'As we get more direct experience and comfort operating with privacy-based solutions, the pace at which solutions are developed will start to accelerate,' EYnews' PBrody writes. Opinion.
Paul Brody is Global Blockchain Leader for EY . Under his leadership, EY is established a global presence in the blockchain space with a particular focus on public blockchains, assurance, and business application development in the Ethereum ecosystem.
Despite this enormous progress, it’s important to temper expectations because enterprise systems behave very differently from consumer products. Buyers operate with different reasoning and have different metrics and standards for success. There are five challenges I see in the industrializing and scaling process ahead.The most important one is simply that enterprise sales and adoption cycles are relatively slow.
Sometimes suppliers have their own proprietary relationships with suppliers that they don’t want to disclose. The more complicated the rules that buyers and suppliers want to impose, the tougher it will be to design information infrastructure to handle these complexities. Nightfall just covers moving tokens. It unlocks several business cases like inventory management but it doesn’t support complex business logic. For that, new tools are under development that will allow us to compile standard solidity contracts into zero knowledge circuits.
Do this enough times or in the absence of other parties doing similar transactions and it starts to become possible to make educated guesses about who is doing what on-chain.
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