Innovators with a shared interest of increasing data privacy and security find common ground with secure Multiparty Computation (MPC)
San Francisco, 18 October 2022 – Meta, Bosch and nearly three dozen other companies have recently joined the MPC Alliance. The influx of new members elevates the organization’s membership to 59 as the cryptographic privacy and security technology gains more support across a range of industries.
The MPC Alliance is a non-profit established to increase awareness and promote adoption of the privacy-enhancing technology.
The announcement follows its recent MPC Data Privacy Summit, now available on-demand, which explored the use cases for and future of MPC technology for privacy and collaboration.
“Multiparty computation or MPC has unquestionably emerged as a critical and trusted data security technology over recent years, and adoption of the technology is rapidly expanding in a wide variety of data privacy applications,” said Frank Wiener, President of the MPC Alliance and Marketing Director at Blockdaemon. “We’re adding multiple new members each month – which gives us more resources to take on new initiatives. Having major institutions like Meta join the organization strengthens the alliance and provides even greater market validation.”
“Last year, we shared our longer-term vision on privacy-enhancing technologies and how we believe they will become foundational to the future of personalized advertising experiences. MPC is a critical part of this technology stack, and we believe industry collaboration is essential for the development of interoperable solutions and a shared set of standards to support a free and open internet. The MPC Alliance is already leading the industry in increasing the understanding and adoption of MPC for various applications, and we are proud to be part of the effort,” said Sanjay Saravanan, who leads the Applied Cryptography Research group at Meta.
MPC Alliance now has 59 members. Among the 34 new companies joining the body are Alexandra Labs, Algemetric, Anjuna, Atato, Bosch, Cape Privacy, ChainSafe, Ciphermode Labs, Cryptosat, Custonomy, Desilo, Dfns, DuoKey, Finema, HyberBC, IO FinNet, Matrix Labs, Meta, Metaco, Nillion, Parfin, Partisia Blockchain, Parfin, Protego Trust, Provable Markets, Roseman Labs, Safeheron, Safematrix, Silence Laboratories, Spatium, Taurus, TNO, Triangle, and Tune Insight. For the full list of current members, visit: www.mpcalliance.org.
The MPC Data Privacy Summit brought together technology providers and users, academic and commercial organizations, regulators and legal experts to discuss MPC and privacy.
Keynote presentations from Meta, Google, the European Commission and Partisia Blockchain showed how the technology is being applied to solve real-world problems and why MPC has emerged as the privacy technology of choice for crypto-native service providers and traditional finance service providers alike.
For more information and to register, visit: https://mpcalliance.brighttalk.live/
MPC is a cryptographic security technique that can help achieve the right balance between data privacy and data utility by building important privacy features into the data journey. It allows for multiple parties to compute a function using each other’s inputs while keeping the data of each contribution truly private. It also ensures collaborative information-sharing while mitigating the risk for privacy and security.
MPC has emerged as the security technology of choice in the massive cryptocurrency and digital asset markets. An estimated 1,500 to 2,000 different institutional investors, banks, exchanges, custodians, and enterprises now use MPC to protect the private keys which control digital assets valued in the billions of dollars. Major enterprises have also deployed MPC-based key management solutions to protect keys used to provide secure communications, signing and verifying the authenticity of code, as well as encrypting critical data and more.
MPC is gaining momentum in data privacy applications where it is providing game changing opportunities to enhance advertising to collaboration on a variety of applications ranging from machine learning to healthcare, to fraud detection and more. In some applications, MPC is a replacement or alternative technology, but in others it is applied in combination with other privacy enhancing technologies (PETs) to materially improve overall security, privacy, and efficiency.
About MPC Alliance
The MPC Alliance is a non-profit industry alliance with a charter to increase market awareness, acceptance, and adoption of Multi-Party Computation (MPC) based technologies, products and services. Companies developing or applying MPC to solve real world problems are invited to join, contribute, and participate in accelerating market awareness and adoption of MPC. Visit www.mpcalliance.org for more information. You can also follow us on LinkedIn, Facebook, and Twitter.
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