How Silence Laboratories Plans To Quiet The Privacy Storm
Summary
Target customers include banks and other involved in credit scoring work, where acquiring insight from a broad range of data sources can build much more accurate pictures of potential borrowers. Money laundering checks are another potential use case in the finance sector.So far, Silence has signed up around 20 customers and is bringing in revenues at an annual equivalent rate of $500,000. Our partnership has led to the creation of a decentralized authorization network that is going to drive use cases like session keys, private key management, and off-chain computing to power smart accounts on top of inherent economic guarantees.Other customers include digital wallet provider MetaMask, custody specialist BitGo, and the Ethereum specialist Eigen Labs.The companys early commercial success and rapid growth appears to have impressed investors, with the company now having raised more than $6 million since its launch. This latest $4.1 million fundraising is led by Pi Ventures and Anurag Arjun, a former co-founder of blockchain specialist Polygon and now at incubator Kira Studio, with participation from several angel investors.Secure data collaboration to enable privacy preserving compute is an ever-growing problem, especially in highly regulated domains such as finance and healthcare; this requires solutions based on zero-trust cryptographic guarantees instead of relying on third-party data vendors who are prone to security breaches, argues Shubham Sandeep, managing director Pi Ventures. The MPC infrastructure developed by the team at Silence Laboratories is the fastest in the world, easily configurable, application agnostic and provides full control to the user.Anurag Arjun is also enthusiastic.