ING Bank is continuing further down the path of advanced blockchain privacy with the release of its Zero-Knowledge Set Membership (ZKSM) solution, announced this week at the Sibos banking conference.
The Netherlands-based lender had already received plaudits for adapting classical zero-knowledge proofs (a way of proving possession of a secret without revealing the secret itself) into a simpler form for use within the bank called zero-knowledge range proofs.
Zero knowledge range proofs can prove a number is within a specific range. For example, a mortgage applicant could prove that their salary sits within a certain range without revealing the exact figure. As such range proofs are computationally lighter than regular zero-knowledge proofs and run faster on a blockchain.