Conceptually simple but practically complex, FHEenables computations on encrypteddatawithout having to first decrypt it.
As a result, companies can provide services without seeing their customers information.
The users, meanwhile, wont notice any difference in the function.
To visualise the process, imagine the encrypted data as a locked box andthe computations as paint.
By painting over the box, you’re able to also paint over the data inside.
But the changes inside the box will remain hidden from prying eyes.
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Its elusive combination ofsecurityand accessibility has given FHE an almost mythical status.
Hence the frequent holy grail comparisons.
Unlike the realy Holy Grail, however, FHE has already been discovered.
The challenge now is commercialising the tech which is where Zama comes in.
Zamas quest for fully homomorphic encryption
Zama has alreadybuilt asuiteof open-source cryptographic libraries for FHE development.
With the new funding, the startup plans to create a new class of fully homomorphic encryption applications.
According toHindi, those applications could be almost endless.
Cloud computing is another focus area.
By using FHE,businesses could securely offload computing tasks to cloud environments without risking theprivacyof their data.
Search queries, for instance, would remain private, and encrypted data could be securely analysed.
FHE smart contracts are also under development.
Homomorphic encryption can keepthe terms and user data hidden without impeding the execution of the contracts.
These capabilities are already on the market.
Zamas most recent solution,fhEVM, is touted as the first confidential smart contract protocol for EVM blockchains.
For the other applications, there are still hurdles to overcome.
Further work is required on regulatory compliance, efficiency improvements, and standardisation of practices and protocols.
But the holy grail of cryptography is already moving from mythology to reality.
One of the themes of this years TNW Conference is Venture: Show Me The Money.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
