Has Ernst & Young Done What Ethereum Could Not?

Multinational auditing and consulting firm, Ernst & Young (EY), announced on October 30 the launch of their EY Ops Chain Public Edition (PE) prototype, the world’s first implementation of zero-knowledge proof (ZKP) technology on the public Ethereum blockchain. This system aims to overcome three main barriers of current transactions and asset transfers on a public blockchain: The ability for companies to conduct secure transactions on a public network; Lower some of the barriers to more widespread blockchain adoption; and Enable a full traceability trail of private transactions. Although still only…