The world’s first blockchain-based trust platform delivers transformative privacy, identity and compliance capabilities for cryptocurrency transactions

MIAMI, October 24, 2022 /PRNewswire/ — Sealance, the world’s first blockchain-based trust platform for cryptocurrencies powered by advanced math, cryptography and zero-knowledge proofs, emerged stealthily today. Sealance is backed by funding from leading global investors, including Galaxy and Ribbit Capital, as well as several of the biggest crypto Exchanges. Coinbase Ventures, Gemini Frontier Fund, Luno Expeditions, and Jump Capital also participated in the round.

Sealance is the brainchild of Shlomit Azgad-Tromer, Matthew Greenand Eran Tromer. Matthew and Eran, founding scientists of Zcash, the first privacy-preserving currency, are pioneers in privacy and blockchain research, and are considered among the world’s top applied cryptographers, having co-authored hundreds of peer-reviewed papers by peers.

Created to protect privacy, prove identities, and enforce policies based on advanced problem solving, Sealance Proofs extends the zk-SNARK proof technology that formed the backbone of Zcash. Introduced in 2013 in research papers by Eran and colleagues, these zk-SNARKs are a powerful cryptographic tool that can prove to others that they have certain information or assets, without revealing the underlying data. In light of recent developments and the conflict between privacy and law enforcement, scientists are coming together again to create a compliant privacy platform that could build trust in crypto and allow it to replace main street financing.

According to Shlomit Azgad-Tromer, CEO of Sealance, “Sealance is changing the privacy game for crypto. In traditional finance, banks are responsible for ensuring the financial privacy of their customers, subject to controls that enable compliance and oversight for law enforcement purposes. Banks use compliance services to perform this function. Instead, Sealance embeds financial privacy and compliance mechanisms into the transaction itself. crypto can benefit from the same advantages as the big banks, but in a decentralized ecosystem.”

The company’s technology augments transactions with additional information about the individual’s identity, while maintaining the confidentiality of that information and the underlying transaction. It then reasons on this information, using zx-SNARK, to automatically enforce regulatory compliance, risk management policies, transaction reporting obligations, and record keeping processes on the blockchain in real time.

“The Sealance Trust Platform is more than a policy enforcement and compliance engine. Using Sealance Proofs, players across the ecosystem can prove their identity while protecting user privacy,” said Matthew Green, founding scientist. “Our trusted platform removes huge barriers to entry by making it easy to introduce new currencies, controlling who uses them, and making transactions compliant in their applicable jurisdictions.”

The Sealance Trust platform works across all currencies, exchanges, jurisdictions, businesses, individuals and banks, and includes not only a transaction and compliance engine for policy enforcement, but also evidence of compliance. ‘identify.

It is one of the first inclusive policy platforms to develop a sealed market for crypto transactions that can effectively protect confidential information, except as required by law.

“Sealance has built a solution that works with traditional financial instruments to ensure privacy and security, but also compliance with applicable regulatory rules,” said Noah Perlman, Director of Operations at Gemini. “That’s the genius of Sealance. They come up with a solution that can preserve these two important pillars of the financial system.”

To learn more about Sealance, please visit: https://www.sealance.io/.

About Sealance

Sealance is the world’s first decentralized system cryptocurrency trusted platform for privacy, identity and compliance. Based on advanced math, cryptography and zero-knowledge proofs that prove identities, Sealance was designed to lock onto existing cryptocurrencies and make regulatory compliance a given by enforcing laws and policies on crypto transactions as they occur. Learn more about https://www.sealance.io/.

Contact:
Kevin Sajdak
[email protected]

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SOURCE Sealant