“Data in X”: X=Finance（2）

— How to perform asset rating more safely and efficiently

“Without big data analytics, companies are blind and deaf, wandering out onto the Web like deer on a freeway.”

— Geoffrey Moore, Author of Crossing the Chasm & Inside the Tornado

Data+Privacy Computing

Adding blockchain into the underlying infrastructure of financial data processing does bring many benefits, but there is also the risk of data leakage.

Once the data is leaked, the enterprise will face great uncontrollable risks.

Therefore, many companies are unwilling to disclose their specific assets on the blockchain, and the bottom-level optimization of financial activities is still hindered. If we don’t need to make asset information transparent, and can also prove that the company truly and legally owns a certain level of assets and easily make an accurate credit rating, it must be the best solution to the existing problems.

Auth3 makes a breakthrough. We leverage privacy computing technologies such as TEE to effectively guarantee the security and integrity of data during data verification

Taking ABS as an example, enterprise a packs its own assets to issue ABS products, and enterprise b intends to purchase it, but it needs to evaluate the basic asset information of enterprise a. Therefore, enterprise b will provide a set of verification functions (provided by itself or entrusted to a third-party agency such as a specialized audit agency).

The asset data of enterprise a and the function that can verify the specific asset information will be uploaded to the auth engine together for computation in the TEE (Trusted Execution Environment). TEE can ensure that the code and data loaded in TEE are protected in terms of confidentiality and integrity. Finally, the auth engine will generate a data report signed with the private key and return it to enterprise b.

1. The signature can verify that the report has not been tampered with. The public key is uploaded to the blockchain by the auth engine, and enterprise b can verify the signature of the data report after downloading the public key from the blockchain.

2. Data report contains information of the data owner, the authenticity of the data, the attributes of the data after verification, and the information of the auth engine. As a result, the enterprise can accurately assess the assets of the enterprise to decide whether to purchase its ABS products.

The whole process realizes the perfect complementarity of private computing and blockchain: private computing can guarantee the confidentiality of data and computing process, and the computing can be verified, but it lacks the ability of cross-domain collaboration and distributed methods of audit supervision; The blockchain has the characteristics of decentralization, traceability of histories, and automatic execution of smart contracts, but it lacks data privacy guarantees.

Conclusion

Through the core technology of blockchain and privacy computing, Auth3 breaks financial information barriers, reduces complex intermediate links, conducts credible and secure data analysis, effectively promotes enterprises to carry out precise marketing, provides reliable credit ratings, and accelerates economic activities such as financing support.

Contact

Website: https://auth3.network/

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