New Blog post: Smart Contracts at Sea ⚓️
Traditional Letters of Credit cost 2% in fees. Smart contract escrows cost 90% less, and earn DeFi yield while locked.
https://t.co/J7cItCQVzS
Traditional finance isn't being replaced - it's being programmed.
New post on how programmable cryptography is quietly automating the $7 trillion cost of global financial intermediation from within existing systems ->
https://t.co/xvOCskMFSK
We'll be at @zeroknowledgefm's zkSummit 13 presenting https://t.co/7f3RHEPgQJ, the primitive behind Bank Originated Ledger Transactions (BOLT).
Catch the session to learn about how to leverage first-party bank signatures to enable trustless bank <> smart contract interactions!
At the upcoming zkSummit, @m38mah presents a library that bridges traditional banking and ZK. Through his talk, you'll learn about how bank signatures can unlock onchain escrows and RWA assets, with a live demo on Revolut using Aztec testnet.
May 12th in Toronto: https://t.co/5LAI0oIfLF
Without privacy, everything from personal file storage to banking to medical records can't be stored online.
TLS pushed the envelope in 1999, and today the design space grows ever larger with ZK.
We're at the frontier of attested data today...
We're soon deploying our sandbox escrow at https://t.co/tKdOukgR1F, where you can swap crypto <-> fiat through a private, non-custodial escrow powered by the new Aztec Testnet.
There's much to build on top of all sorts of attestations - follow along as we explore this frontier!
Our first effort is Bank Originated Ledger Transactions (BOLT) - using OpenBanking API's, we can create proofs of bank-to-bank transfers.
Signatures from OpenBanking carry legal guarantees of receipt, making them much stronger than email or TLS based solutions.
Commerce is built on confidentiality - when TLS was released, internet banking suddenly became a reasonably safe prospect!
We've recreated much of centralized compute onchain, but transacting confidentially has lagged behind...
You wanted number go up, you got memecoins and yield ponzis.
You wanted institutional adoption, you got custodied t-bills.
Today is different - you wanted privacy, you got privacy. Today, Aztec debuts general-purpose compute with general purpose privacy.
Why is this important?