Privacy’s proposal is to let businesses plug into the public , pay for the use of the infrastructure (rather than invest in it), yet transact with each other via standard smart contracts and using their standard technology (public key infrastructure) to identify their partners.
Typically, two or more compagnies will discuss terms of their transaction and upon agreement all parties should sign a contract. A private smart contract can be exactly this, collecting the signatures by recording a private key signed transaction into the but it needs to be exchanged in full confidentiality.
All they need is to install a simple standalone program that interacts with the public encrypting and decrypting all data. Developers can then create on top of it standard DApps (distributed apps) as the program is web3 compatible.
If they need to prove their actions to a court or third party, the public would have an encrypted record of all activities that combined with the one-off usage key could decrypt that particular action.
This technology is intended to be open sourced and is currently in alpha version deployed for testing onto the public test network.
A functional demonstrator is deployed and contains instructions on how to proceed (see the screenshots below). Gitlab repository is given at the end to get started.
Published at Tue, 02 Apr 2019 18:15:04 +0000
