Cryptocurrency

22/10/18 03:30 UTC-4

New blockchain platform and token from ING: ZKSM

ING Corporation has confirmed the release of blockchain-platform
ING Corporation has confirmed the release of blockchain-platform

ING has confirmed the release of an open source blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
platform called Zero-Knowledge Set Membership (ZKSM).

According to a press release on October 21st, the Dutch multinational financial corporation ING, officially confirmed the release of the tokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
and the opening of the Zero-Knowledge Set Membership (ZKSM) blockchain platform.

The main function of ZKSM is to "improve" privacy for a distributed book (DLT). According to the creators, such as a blockchain, will be able to verify certain alphanumeric data without compromising overall security.

According to the ING report, the functions of the blockchain technology are able to confirm that part of the data belongs to a specific set but does not reveal the full characteristics. For example, as specified in a press release, an EU citizen can prove that he or she is from the EU without specifying his exact country of residence.

"The main reason for the introduction of a new DLT is the protection of private information in a public book, where changes should be checked by each member of the network", – from the message of ING.

From the statement of CEO ING Ralph Hamers: "The banking system ING wants to help its customers transform business models."

Recall that this is not the first ING blockchain-project. At the beginning of 2017, the corporation presented the Zero-Knowledge Range Proof (ZKRP).

Editor: Yuliya Soroka

See also: "0x (ZRX) now on Coinbase"

#ING #ZKSM #blockchain-platform

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