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We’ve met many blockchain teams, all working hard to deliver “phase one”, an exploration into the blockchain technology. It’s the best way to get a feel and understand the technology trade-offs. Can these consensus machines become the main rails of communication for their industry?

Here is the video of a meetup we hosted recently in our offices in Tel Aviv. Part of the QED-it team (Jon, Kobi & Daniel) presented the applications of cryptographic Zero-Knowledge Proofs on the blockchain. We discussed the theoretical and practical aspects of this powerful tool along with a solution to the “Sudoku purist” incident in the 2013 International Sudoku Championship. 

The exchange of data is intrinsic to business processes, allowing partners to share value, information and assets among many others. Untrusting partners, however, tend to use trusted third parties to manage the data and certify its validity on both ends of the process. In this post we are going to focus on how we can use modern cryptographic techniques to solve this centuries old problem of how to get rid of trusted third parties for business processes.

Blockchain emerged as a new industry in the past 3 years, with bold promises: replace intermediaries with technology solutions, lower the complexity of systems to collaborate among competitors (e.g. banks), enable programmable assets and smart contracts. As veterans and entrepreneurs of the Bitcoin field we were, like many others, very excited by these promises.