Taurus, the tokenization and digital asset custody technology firm, has unveiled a new open source standard for private token transactions on permissionless blockchains. It developed the open source standard for smart contracts in association with the Aztec Foundation that oversees the Layer 2 blockchain protocol, which uses zero knowledge proofs (ZKP) for privacy. Key to the token standard is the balance between privacy and compliance.
Taurus works with numerous institutions, including Deutsche Bank and State Street, so privacy is an important issue.
Apart from asset managers, many institutional blockchain activities have remained on permissioned blockchains. Privacy is one of the reasons, because enterprise blockchains are built with privacy as a core feature, whereas permissionless blockchains were developed to be transparent. Hence, privacy is an add on.
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