Odaily Planet Daily reports: The Ethereum Foundation’s privacy team has spun off to form a for-profit company, EthSystems, backed by Ethereum co-founder Joe Lubin, Ethereum treasury company Bitmine, and SharpLink. EthSystems is a for-profit company focused on building “confidential systems on Ethereum” for institutions. Its co-founders—Mo Jalil, Oskar Thorén, and Aaryamann Challani—were previously employees of the Ethereum Foundation and led its Institutional Privacy Working Group.
The team said: “EthSystems’ business model is simple: provide customized consulting services to solve the most challenging problems institutions face when adopting Ethereum. In practice, this means continuing the work we’ve already been doing, but now charging for it.” (The Block)