JPMorgan has developed an extension for Ethereum-based blockchains that allows to hide the identities of senders in transactions.
So far, users using Quorum, the bank's own blockchain, could hide the amount of money sent in transactions, however, the information of the sender and the recipient was public.
From now on, thanks to this new functionality, which has been built on the Zether protocol, a confidential payment mechanism compatible with Ethereum and other smart contract platforms that allows to add further layer of anonymity to transactions, users will also be able to hide their identities.
The Zether protocol uses zero-knowledge proofs (ZKPs), a branch of Maths thats allows one party to prove knowledge of a particular secret value or information without the need to share any detail about the secret.
JPMorgan has been pretty active in the crypto/blockchain sphere recently. For example, it has announced it is working in the development of its own stablecoin, the JPM Coin.
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