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Mirae Asset STWG implements 'zero-knowledge proof' on token securities platform

[출처] 전자신문 2023-07-25

Mirae Asset STWG implements 'zero-knowledge proof' on token securities platform

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Mirae Asset Securities is accelerating the Token Securities (ST) business by utilizing the synergy of the 'ST Working Group (STWG)', an alliance of working-level consultative bodies. It is exploring commercialization of various latest blockchain technologies such as 'Proof of Reserve (PoR)' and 'Anonymous Remittance'.

According to the industry on the 25th, this month Mirae Asset Securities exchanged a memorandum of understanding (MOU) with zkrypto, a zero-knowledge proof (ZKP) solution company, to commercialize token securities based on digital assets.

Mirae Asset is conducting the ST business on a two-track basis. It is divided into 'Next Finance Initiative (NFI)', a token securities consortium in which SK Telecom and Hana Financial Group participate, and 'STWG', a working-level consultative body alliance in which blockchain companies, sculpture investment companies, and law firms participate. zkrypto participates in STWG starting with this MOU, and plans to conduct research for commercialization through consultations on the application of zkrypto's 'ZKP solution'.

Through this cooperation, the two companies plan to combine each company's technology and market capabilities with the token securities business to develop the token securities market. It focuses on providing new value to customers by combining the strengths of traditional financial structures and digital finance.

zkrypto is a PoR solution used to verify reserve holdings using zero-knowledge proof, a solution that supports auditing for anti-money laundering (AML) while anonymously transferring tokens and non-fungible tokens on a public blockchain, and blockchain layer 2 It has 'ZK roll-up' technology that supports fast operation of

In particular, in the case of PoR solutions, the industry is also paying attention to the possibility of commercialization. PoR is usually used to prove whether a virtual asset exchange, etc., is properly preserving the user's deposited assets.

As analysis was raised that the reason for the bankruptcy of FTX, the world's third-largest exchange, was a lack of transparency, the issue of proving the preservation of deposits by financial institutions has emerged as a major topic in the industry. Binance and others are taking the lead in introducing PoR, but they are still showing limitations in processing speed.

zkrypto is a Hanyang University start-up that focuses on zero-knowledge proof research. The company performed the Bank of Korea's CBDC privacy enhancement technology introduction service, and from June 2023, it is carrying out the Central Election Commission's blockchain voting system project, which is KISA's blockchain private sector concentration and expansion project.

An official from the two companies said, “We are confident in the innovative impact that blockchain technology and digital assets can have on the traditional financial industry.” I expect to do it,” he said.

Reporter Hyung-Doo Lee

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