Cross-Chain Transactions
Enhancing Financial Data Privacy with Chainlink's New Technology
Tuesday. October 22 at 4:30 PM
1 min. readChainlink, a decentralized blockchain oracle network built on Ethereum, has unveiled innovative technology to safeguard data privacy for financial institutions during blockchain transactions. The new privacy features, introduced on Oct. 22, cater to financial entities seeking to leverage blockchain applications while ensuring end-to-end privacy. The offerings include the Blockchain Privacy Manager, facilitating private chain integration with the public Chainlink Platform, and CCIP Private Transactions encryption protocol. ANZ Bank is set to pilot these capabilities for cross-chain settlement of tokenized real-world assets under Singapore's Project Guardian. With the Blockchain Privacy Manager, institutions like ANZ Bank can seamlessly connect private chains to various public and private blockchains via the Chainlink CCIP network. The CCIP Private Transactions protocol enables secure encryption and decryption of sensitive data during transactions across multiple private chains. Chainlink's privacy enhancements address the pressing need for secure cross-chain privacy in compliance with regulations like GDPR, paving the way for increased institutional adoption of blockchain technology.