Chainlink has launched new technology to keep data confidential

Chainlink has introduced two new features to provide end-to-end privacy for financial institutions that want to use blockchain applications.

These tools allow banks and other organizations to enhance security and maintain data privacy when working with blockchains.

New privacy features

One of the key tools is the Blockchain Privacy Manager, which allows the integration of private blockchains with Chainlink's public network. The second innovation is CCIP Private Transactions—a cryptographic protocol that protects private transactions by encrypting token amounts and counterparties' data.

Pilot project with ANZ Bank

One of the first financial institutions to test these capabilities will be ANZ Bank. The Australia and New Zealand Banking Group will integrate cross-network settlement technology for tokenized real-world assets (RWA) as part of the Monetary Authority of Singapore’s initiative.

Thanks to the Blockchain Privacy Manager, institutions like ANZ Bank can connect private chains to public and private blockchains through the Chainlink CCIP network.

This also opens up the possibility of connecting existing corporate and financial systems to blockchains, significantly expanding the capabilities of traditional institutions in the field of digital assets.

Private transactions across multiple chains

By using CCIP Private Transactions, financial institutions will be able to conduct transactions across multiple private chains while maintaining full data privacy.

This technology allows them to encrypt and decrypt information, such as token amounts and counterparties, during transactions.