Data privacy firm QEDIT expands reach with three new partners
QEDIT is working with three new partners in cloud computing, fintech and insurance to showcase a highly secure privacy protocol for blockchain based on Zero-Knowledge Proof, reports Jane Connolly.
The enterprise solution for preserving data privacy has announced partnerships with cloud infrastructure firm VMware, which explores disruptive technologies such as artificial intelligence and edge computing, and Ant Financial, operator of global payment and lifestyle platform Alipay.
The third partnership is with RGAX, the transformation unit of Reinsurance Group of America, Incorporated (RGA), focusing primarily on life and health-related insurance solutions.
QEDIT helps to ensure confidentiality for banks that transfer assets on decentralised networks and for companies setting up supply chain management systems with their whole ecosystem.
Financial partners can use the technology to calculate accurate credit scores without accessing the private data on which the scores are based.
“Today marks a major step in fulfilling our vision to enable secure collaboration between companies using sensitive data,” says QEDIT CEO and co-founder, Jonathan Rouach. “Working with VMware, Ant Financial and RGAX will help us showcase the value that Zero-Knowledge Proof cryptography can offer on an enterprise level, across different industry verticals.”
The news follows the closure of QEDIT’s $10 million Series A investment round, led by MizMaa Ventures, with participation from Ant Financial, RGAX, Meron Capital, Collider Ventures, Jovono and Target Global.
QEDIT will use the funds to improve the protocol and expand its sales and partnerships team.