Visa will develop a blockchain system for secure personal data processing

The international payment network VISA is working on a system on a mart-free blockchain, which will allow participants to jointly process personal data and exchange them without the risk of confidentiality violation.

The research division of the company engaged in data analysis, security and payment innovation published a document describing its new blockchain system.

The project called Luciditee will provide an environment of trusted execution for applications that process huge amounts of data and intended for servicing a large number of users, not knowing what of them will take part.

The description says that the system will allow the participants to jointly process personal data, transparent and controlled, guaranteeing that third parties will not be able to access them.

To ensure the equity of calculations and their compliance with the requirements, the LuCiditee will use special protocols connecting the distributed registry and a trusted environment. At the same time, the blockchain will be responsible for compliance with all conditions.

Not only private, but also state structures are actively improving the mechanisms of transboundary calculations using the blockchain. For example, the monetary control of Singapore has developed

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