source avatarSophie

Share

Paying employees through a public blockchain sounds convenient until you consider what happens to their salary information. Every transaction can expose financial details that should remain personal. For businesses handling multiple employees, this creates a privacy concern that cannot simply be ignored. This is an interesting problem @primus_labs is exploring with @allscaleio on BNB Chain. Their collaboration has brought confidential payroll into focus, with a technical validation of a system where salary amounts remain encrypted while payments can still be settled and verified. The idea is important. Employees should be able to receive their salaries without making their earnings visible to everyone monitoring the blockchain. Businesses also need a way to maintain financial records and allow the necessary verification without exposing every payment detail publicly. Primus uses Fully Homomorphic Encryption (FHE) to make this possible. It allows computations to happen on encrypted information without first revealing the underlying data. What interests me about this development is its practical application. Payroll is just one example of how businesses could use blockchain without making sensitive financial information public. The same privacy requirements extend to invoices, business payments, institutional transfers and other financial operations. For blockchain adoption to move beyond individual users and crypto-native applications, everyday business activities need to be supported too. Primus is exploring that part of the infrastructure, and its collaboration with AllScale is an interesting step in that direction. Onchain finance should make business operations easier without turning private financial records into public information.

No.0 picture
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.