SINGAPORE / ACCESSWIRE / May 3, 2022 / EMURGO Ptd. Ltd. - EMURGO Ventures announced today a partnership with Partisia Blockchain, a Layer 1 public blockchain protocol built for privacy, trust, and scalability, to allow for the exchange of resources to enhance Cardano's decentralized privacy features on-chain.
EMURGO Ventures is a wholly-owned investment subsidiary of EMURGO Ptd. Ltd. - the official commercial arm and a founding entity of the Cardano blockchain - that was launched in 2021 as part of EMURGO's $100 million Cardano ecosystem investment vehicle to support decentralized applications (dApp) and middleware solutions development on Cardano.
The objective of the strategic partnership is for Cardano decentralized application (dApp) developers and its users to be able to leverage Partisia blockchain's privacy-preserving zero-knowledge (ZK), multi-party computation (MPC) for Cardano dApps. Partisia's development team will develop customized smart contracts for Cardano developers to utilize when applicable to their dApp's use case, which will still use Cardano ADA or Cardano-based tokens. Ultimately, this optionality provides both Cardano developers and their dApp users with more robust privacy.
Partisia is scheduled to deliver the first full version of its smart contract programming language designed for privacy-preserving ZK and MPC computations by the middle of this year.
"EMURGO Ventures is excited to partner with Partisia and its stellar team to bring more privacy tools for Cardano developers to utilize and add value to the Cardano ecosystem. Cardano's Web3 development is advanced by the efforts of Cardano's dApp developers, and this partnership serves to add more elements to their toolbox to provide services that users will demand such as privacy features," said EMURGO founder and CEO Ken Kodama.
"Partisia Blockchain couldn't be more thrilled to partner with EMURGO Ventures to deliver our first cross-chain, zero-knowledge privacy smart contracts to the Cardano ecosystem. The Cardano ecosystem is one of the biggest in the industry and we look forward to providing as much value as possible to the developers. We built Partisia Blockchain with a collaborative approach to make our privacy contracts available across all other networks and this partnership is a strong indication that we're finding product market fit in this industry and that privacy is in demand," said Partisia Blockchain Co-Founder Brian Gallagher.
According to venture capital firm a16z, "the next phase, this next decade, will be about the ability to interact with anyone, anywhere, at any time - privately, without revealing one's data, and with more control in the user's hands" and that "new web standards built with zero-knowledge proofs and blockchains will therefore offer users choice by introducing a new privacy layer for the web."
EMURGO is the official commercial arm of Cardano and provides socially impactful solutions to solve some of the most intricate problems of organizations. As a founding entity of the Cardano protocol, EMURGO is able to leverage its abilities for large-scale blockchain development and rapid solutions deployment to benefit its global clients.
EMURGO has offices in Singapore, India, and Indonesia, and a roster of global clients & partners. To connect and learn more, visit https://emurgo.io.
About EMURGO Ventures
EMURGO Ventures is a wholly owned investment subsidiary of parent company EMURGO Ptd. Ltd. and invests into a variety of Cardano-focused startups and middleware solutions companies. To connect and learn more, visit https://emurgo.vc.
About Partisia Blockchain
Partisia Blockchain is a Web 3.0 public blockchain built for trust, transparency, privacy, and speed of light finalization. The cutting-edge solution to decentralization's confidentiality and privacy challenges, Partisia Blockchain represents the first successful complete integration of blockchain technology with another commercial grade type of distributed cryptography known as Secure Multi-Party Computation (MPC). This combination of Distributed Ledger Technology (DLT) with privacy-enhancing software allows enterprises to experience the advantages of decentralized technologies while still guaranteeing that data remains private and secure.
A pioneer in the space, Partisia Blockchain was founded by Partisia, the world-leader in commercial applications of Secure Multi-Party Computation, who have been bringing cutting-edge commercial-grade MPC software solutions to global enterprises since 2008. The team counts a number of well-known industry luminaries among its ranks, including world leading cryptographers, developers, and entrepreneurs. For more, visit https://www.partisiablockchain.com
SOURCE: Partisia Blockchain
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