Beijing National Financial Technology Certification Center Announces First Batch of Certified Financial Applications Using Multi-Party Secure Computing (MPC) Technology

According to reports, the Beijing National Financial Technology Certification Center recently announced the first batch of products and version information that have passed multi-party secure computing (MPC) technology financial application certification, including Ant Blockchain Technology (Shanghai) Co., Ltd., Lanxiang Zhilian (Hangzhou) Technology Co., Ltd., Ant Zhixin (Hangzhou) Information Technology Co., Ltd., WeBank, and platforms under Huakong Qingjiao Information Technology (Beijing) Co., Ltd., which have been certified.

Ant blockchain and other enterprises selected for MPC certification by the National Financial Technology Certification Center

The Beijing National Financial Technology Certification Center has recently announced that the first batch of products and versions that passed certification using multi-party secure computing (MPC) technology for financial applications include Ant Blockchain Technology (Shanghai) Co., Ltd., Lanxiang Zhilian (Hangzhou) Technology Co., Ltd., Ant Zhixin (Hangzhou) Information Technology Co., Ltd., WeBank, and platforms under Huakong Qingjiao Information Technology (Beijing) Co., Ltd.

What is Multi-Party Secure Computing (MPC) Technology?

Multi-Party Secure Computing (MPC) technology is an advanced technology that guarantees trust and security in computation between two or more parties. It allows several participating entities to perform computations on their datasets in a secure and confidential manner without sharing the data itself. It provides the basis for secure, privacy-preserving computation on sensitive data and has the ability to protect sensitive data from being compromised.

The Advantages of MPC for Financial Applications

MPC technology can provide many advantages for financial applications, especially in data privacy and risk control. Some of the advantages of MPC for financial applications include:

Privacy Preservation

Given that MPC allows for secure and confidential computation across multiple parties, sensitive financial data can be computed in a way that guarantees privacy preservation.

Reducing Data Security Risks

Financial applications are susceptible to having data leaks or breaches, which can cause significant damage to the data owners. MPC can minimize the risk of data breaches because no one party has access to the entire dataset.

Improved Security across Financial Data Systems

MPC technology can be used across multiple financial systems, which helps improve the security for the financial data ecosystem.

Enhancing Efficiency While Protecting Data Security

MPC technology can help organizations achieve their goals while improving the security of sensitive data.

Certified Financial Applications Using MPC Technology

The Beijing National Financial Technology Certification Center has announced that the first batch of certified products and versions using MPC technology include Ant Blockchain Technology, Lanxiang Zhilian Technology, Ant Zhixin Information Technology, WeBank, and platforms under Huakong Qingjiao Information Technology.
Ant Blockchain Technology is the blockchain arm of Ant Group Co., Ltd., which provides innovative blockchain solutions for enterprises and developers. Lanxiang Zhilian Technology is committed to using big data and artificial intelligence technology to help government agencies and enterprises improve their decision-making, risk control, and compliance operations. Ant Zhixin Information Technology is an AI-focused technology company dedicated to providing industry-leading intelligent solutions. They offer risk management, customer relationship management (CRM), and intelligent decision-making services to financial institutions. WeBank is a private digital bank in China that leverages the latest technologies like Artificial Intelligence, cloud computing, and blockchain to provide innovative financial services to customers.

Conclusion

Multi-party secure computing (MPC) technology is rapidly gaining acceptance in the financial world due to its ability to guarantee secure computation and data privacy. The announcement of the first batch of certified products and versions using MPC technology by the Beijing National Financial Technology Certification Center represents a significant step in the adoption of MPC technology in the financial world. Using MPC can help organizations enhance security while achieving their goals, and we can expect to see more organizations utilizing this technology in the foreseeable future.

FAQ

Q1. What is multi-party secure computing (MPC) technology?

A1. Multi-party secure computing (MPC) technology is an advanced technology that allows several participating entities to perform computations on their datasets in a secure and confidential manner without sharing the data itself.

Q2. How can MPC help in financial applications?

A2. MPC can help in financial applications by preserving privacy, reducing data security risks, improving security across financial data systems, and enhancing efficiency while protecting data security.

Q3. Which financial institutions have been certified by the Beijing National Financial Technology Certification Center using MPC technology?

A3. The first batch of certified financial applications using MPC technology includes Ant Blockchain Technology, Lanxiang Zhilian Technology, Ant Zhixin Information Technology, WeBank, and platforms under Huakong Qingjiao Information Technology.