Private On Chain Line of Credit using ZKP

Private On Chain Line of Credit using ZKP

Ethereum will become the main settlement layer for digital value. Once ZKP become standard, Enterprise Blockchain will move to public networks. This project is a first step towards this direction.

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Last updated: 12 November 2022 11:56 PM

Created project

The problem Private On Chain Line of Credit using ZKP solves

Allow financial institutions to start providing their services in public blockchain networks.
At present they are wasting resources in private/permissioned blockchain solutions.
Once privacy is added to public blockchains through ZKPs, enterprises can start providing their services directly on-chain while mantain some information private.

This project is a first step with a simple financial product towards this direction.

It is a Line of Credit where:

  • the terms and conditions remain private between the client and the financial institution.
  • the client can submit a proof on-chain and withdraw (24/7) any stablecoin directly on-chain and use it instantly
  • without human intervention

Challenges I ran into

The main problem has been using Aztec Noir. Because it is still a technology under development. To mention some of the difficulties:

  • Lack of documentation
  • Complex debugging and testing
  • It is not possible to use the tool directly in a browser

As a workaround for the last problem, part is a command line tool and the other is a web app

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