As a researcher who has witnessed the rise and fall of numerous technological advancements, I must say that my conversation with Dr. Joshua Peng at Token2049 Singapore was nothing short of enlightening. His passion for privacy, data sovereignty, and the implementation of zero-knowledge technology in real-world applications is truly inspiring.
Privacy is fundamentally one of the core principles of decentralization. Unfortunately, private data breaches, identity thefts, access to unsolicited information and misuse of consumer data have become standard practice in today’s business environment. Decentralized infrastructure plays a vital role in enhancing privacy. The National Public Data breach in 2024 caused immense trouble as the private data of 2.3B US citizens was leaked on the Dark Web. Beyond the sensitivity of the data, the unique aspects of the data concerned longevity, creating a significant imprint for a lifetime. Therefore, building Web3 infrastructure that can enhance data privacy is the dire need of the hour.
We recently interviewed Dr. Joshua Peng, Strategy Lead at zkPass, in person during Token2049 Singapore to explore how they’re building at the frontier of identity infrastructure where users can take complete control of their data, uplifting data sovereignty in the space. In this interview, we discussed zkPass’s journey, how the team employs Zk technology, its associated challenges, and its real-world applications.
The Evolution of ZkPass
zkPass is developing a zkTLS oracle which serves as a link for confidential data across the entire Web3 ecosystem, such as identities and financial details. In essence, they are designing a zkTLS system that effortlessly integrates sensitive information into blockchain verifications.
With an engineering background and a Ph.D. in Structural Engineering and Computing from University of Missouri, Peng spent three years at Gilsanz Murray Steficek LLP, involved in the technical exploration with Hyperledger Fabric blockchain consortium. He started working on tokenizing real-world assets in 2017 before following his passion for zkPass. He shared that his inspiration for zkPass primarily came from his co-founder, who was keen to improve the real-world application of zero-knowledge technology. The team conducted several research studies to explore the implementations of Zk technology in this journey.
The zkPass system encompasses zero-knowledge proofs, 3P-TLS, and Multiparty Computation (MPC) tech to offer secure and verified data sharing solutions while maintaining privacy. This infrastructure transcends identity confirmation; it can be utilized across diverse data types such as financial records, on-chain actions, social interchanges, and professional competency verifications within applications. Unlike conventional verification methods demanding document submission, zkPass allows you to bypass these processes without disclosing sensitive information to external parties, thanks to the privacy-focused zero-knowledge feature. Furthermore, Peng emphasized practical applications of zkPass in multiple life aspects, contrasting it with technology adoption from a regulatory perspective, where some oversight may be necessary or decryption mechanisms for AML or illicit activities might be relevant.
Peng additionally emphasized various business scenarios for zkPass, explaining its potential application in multiple industries. He also pointed out from a legal standpoint that certain supervision might be essential, involving a decoding process when it comes to matters concerning anti-money laundering regulations and illicit activities.
Real-World Applications: Where Will Technology Gain the Most Consumer Interest
In the course of our discussion, Peng emphasized that zkPass could gain substantial popularity from an application standpoint. One practical example is its use in identity solutions, particularly for confirming authentic humans during airdrop distributions or monitoring on-chain activities. Notably, Peng refers to this as “light KYC,” which means supplying minimal personal details to platforms without fully revealing one’s identity. The Proof of Humanity system is designed to distinguish real individuals from fake accounts or automated bots. It operates by validating online identities without relying on a centralized authority.
As an analyst, I’d express this as follows:
At present, zkPass provides a Web3 extension to its users, and they are actively building a mobile application to further improve the user interaction. The development team is focusing on streamlining the proof creation procedure as well.
Benefits and Challenges with Zk Technology
As the discussion neared its close, Peng discussed the difficulties he encountered when working with Zk technology, given that it was novel at the time of launching its mainnet. Initially, they relied on Zk prime circuits, but since these weren’t fully functional, his team wrote new code to make the required adjustments from the ground up.
This method has additionally boosted their capacity to expedite the creation of proofs, making them a prominent figure in the realm of Zero-Knowledge (Zk) technology.
What’s Next?
As a dedicated analyst, I’m eagerly anticipating the upcoming product announcements and partnerships for zkPass. Our goal is to position zkPass as a leader in the realm of private data, serving as a beacon of trust and security. We’re passionately working towards connecting the bulk of private data from Web2 to Web3, encouraging businesses to innovate and find novel applications for this data.
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2024-10-11 13:16