We kicked off the first day in Davos during the World Economic Forum (WEF) with the first day of the inaugural Crypto2030! It is an honor to be a 2024 Edition Sponsor and unite with many important organizations from all over the world to advance the Web3 space. Especially during the WEF. A gathering attended by thousands from governments, non-governmental organizations (NGOs), and leading businesses and technology firms with more than 200 sessions and countless meetings.
Let’s dive into the first day’s blockchain-related themes.
Regulations everywhere are on the rise. Panelists today covered the landscape and what the future has in store. Discussions touched on Europe’s recent Markets in Crypto-Assets Regulation (MiCA), and actions by supervisory and governing bodies like Singapore’s Monetary Authority (MAS), Switzerland’s Financial Market Supervisory Authority (FINMA), and the Financial Action Task Force (FATF). In short, key infrastructure, such ours, will be key in increasing security, privacy and transparency for all market participants alike.
Taking in the decentralized finance (DeFi) ecosystem in its entirety was also prominent. This developing ecosystem can increase trust and reliability, something close to our hearts at Partisia Blockchain and, coincidentally, a key theme of the WEF – “Rebuilding trust”. Participants discussed everything from liquidity and risk management, lending protocols, derivatives, and how DeFi is disrupting traditional finance. The feeling was that trustless technology might be one of the solutions to regain trust.
The third theme was tokenization, which has the potential to transform the financial landscape as it can be applied to a range of assets. At the center of this is blockchain technology, which drastically simplifies the process of issuing securities. Participants demystified tokenization, telling how tangible assets can be tokenized, ownership proved and the benefits of immutable records.
We also had a very productive day speaking to leaders and we attended an engaging WEF session on the role of openness in science while taking on questions of trustworthiness and bias. From the discussions, we were further convinced the key role blockchain infrastructure can not only play in boosting trust, but in supporting science’s core tenants of reproducibility and collaboration.
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The need for a decentralized exchange (DEX) with a sealed bidding inspired the first practical application of the multiparty computation (MPC) technology, which was theorized some 20 years earlier. Partisia addressed the urgent need to reallocate production rights among sugar beet producers in Denmark in 2008. Fifteen years ago, Danisco, the sole Danish sugar producer, recognized the value of the MPC-based DEX solution and created a stepping stone leading to the creation of Partisia. Over the years, Partisia and, later, Partisia Blockchain expanded their offerings based on the MPC technology, developing secure auctions for the telecom and energy sectors, key management for general use and data analytics that forms a new beginning for the data economy.
A broad vision of MPC’s potential to improve resource allocation across various sectors, Partisia Blockchain’s focus on data, encompassing encryption keys, crypto assets, online identities, health records and more remain central to its appeal. In a world of large data, Partisia Blockchain champions decentralizing transparency, confidentiality and preserving privacy. Thus, transforming the data economy and to empower individuals to control their data and foster a new era of data ownership.
Looking further ahead, Partisia Blockchain envisions further advancements based on the MPC technology, including exploration into quantum computing, where the combination of MPC and blockchain may be instrumental for secure outsourcing to quantum computers. In 2024, MPC technology will transcend its niche status and become a fundamental technology that underpins the secure and collaborative digital future. The below list highlights the diverse and transformative impact MPC will have across various industries in 2024 and beyond, safeguarding privacy and revolutionizing the way we handle sensitive data.
Mainstream integration: MPC technology will become a mainstream term as more industries and businesses adopt this technology to secure sensitive data. From finance to healthcare, MPC will be a pivotal player in safeguarding digital assets and privacy as privacy protection becomes central in legislative, corporate and user environments.
More secure decentralized identity solutions: MPC will play a pivotal role in shaping decentralized identity solutions. In 2024, individuals will have greater control over their digital identities, reducing the risk of identity theft and enhancing overall online security.
MPC in blockchain networks: More blockchain networks will integrate MPC protocols to enhance privacy and security. This integration will not only bolster the confidentiality of transactions but also contribute to the overall scalability and efficiency of blockchain platforms.
Quantum-ready MPC: Acknowledging the future potential of quantum computing, the right type of MPC solutions are already quantum-resistant. Partisia Blockchain’s exploration into quantum computing will pave the way for an integration of MPC with quantum technologies, future-proofing the security of data transactions.
Growth in financial sector adoption: Financial institutions will lead the charge in implementing MPC solutions to protect sensitive financial transactions and customer data. Expect to see a surge in MPC-powered secure enclaves for financial data processing.
Faster and more ethical healthcare research: The healthcare industry will witness a paradigm shift with MPC, as medical researchers and institutions leverage its capabilities for secure collaborative research without compromising patient privacy. This will expedite the development of breakthrough treatments and therapies.
Expansion of scalable DeFi beyond blockchain and crypto: DeFi will continue evolving beyond the blockchain industry. MPC based solutions will help address financial inclusion challenges, as well as scalability and front-running, leveraging advanced encrypted computation and collaborative solutions, with an emphasis on financial inclusion, regulatory compliance, and interoperability.
Edge computing security: As edge computing becomes more prevalent, MPC will be at the forefront of ensuring secure computations at the edge. This will be particularly crucial in industries such as IoT, where data are secured and processed locally.
Standardization initiatives: International standardization bodies will actively work on establishing industry-wide standards for MPC implementations. This will lead to interoperability among different MPC solutions and foster a more cohesive and secure digital ecosystem.
AI and machine learning acceleration: The marriage of MPC and artificial intelligence/machine learning will see unprecedented growth. Privacy-preserving machine learning models, trained collaboratively across different parties without revealing individual datasets, will become the new norm, fostering innovation in AI research and applications.
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The year 2023 marked an extraordinary chapter, with Partisia Blockchain achieving significant milestones and goals, particularly in the realm of multiparty computation (MPC) and privacy preservation. In 2024, our focus shifts to a broader outreach – connecting with those who are integral not just to our growth but to its very architecture, relying on our infrastructure. Watch our year-end review featuring various team members.
The introduction of the Bring Your Own Coin (BYOC) framework, allowed the community to propose and vote on diverse tokens for transaction fees, with ETH, Polygon USDC, and BNB as initial additions with more to come in 2024. Jurisdiction management 1.0 has been launched, enabling developers to stay compliant with data regulations, such as the GDPR. We have also introduced the Partisia Blockchain “Browser” for enhanced MPC20 and BYOC token management, along with more flexible staking rulesets for easier node provider staking. Additionally, our MPC technology is revolutionizing elections with the unified public and private voting system, showcased at the Paris Blockchain Week Awards through Parti.com, ensuring accurate, private, and transparent elections on the Partisia Blockchain.
In 2023, Partisia Blockchain forged groundbreaking partnerships and achieved notable milestones. The integration with MetaMask Snaps in September marked a pivotal moment, enhancing user experiences for over 100 million individuals and enabling seamless transaction signing. This milestone supports the development of innovative cross-blockchain solutions such as BYOC and MPC-as-a-service, with plans to onboard USDT and MATIC through the Hermes bridge.
In collaboration with HES-SO Valais-Wallis, Partisia is pioneering a decentralized e-ID system in Switzerland, aligning with Swiss values of privacy and addressing concerns over the e-ID Act. The launch of the first dApp, Blockchain-Ads, on the Partisia mainnet signifies a commitment to user empowerment and privacy, utilizing multiparty computation (MPC) for data monetization aligned with privacy preservation. Additionally, Partisia Blockchain introduced Parti.com, a groundbreaking platform for content creators, leveraging Web3 and cryptocurrency for monetization and eliminating third parties from the monetization process, fostering a direct peer-to-peer network for creators and consumers.
In the second half of 2023, Partisia Blockchain launched a Grants Program, distributing over 2 million $MPC tokens (valued at US$1 million) to innovative figures in the blockchain sector. Setting itself apart from other privacy blockchains, Partisia’s secure MPC technology enables regulatory compliance, auditability, and diverse use cases, addressing challenges such as MEV attacks and safeguarding DAO voting integrity. Amid unpredictable market conditions, the Partisia Blockchain ecosystem thrived, attracting over 100 new leads and onboarding more than a dozen robust projects in 2023.
In 2023, Partisia Blockchain made significant strides in the blockchain industry, featuring prominently at key events. Notable highlights included a private voting demo at Paris Blockchain Week, emphasizing innovation and privacy. At Token2049, vital discussions with potential collaborations, while sponsoring the IoTex event showcased an interoperability model. Participation in CV Summit facilitated networking with established organizations, and D3 Bahamas saw insights from Shirly Valge on institutional hurdles in Web3 adoption. Additionally, engagements with Blockchain Association Singapore, Cardano Summit 2023, Google Web3 Is Happening, and Next Block Expo in Berlin further solidified Partisia Blockchain’s presence and partnerships in the blockchain landscape.
In a November rebranding, Partisia Blockchain revealed a new visual identity, reflecting our commitment to transforming enterprise blockchain and individual privacy. The updated website features dedicated sections for privacy-focused projects, and the new logo emphasizes people-centric innovation. This refreshed brand identity aligns with our mission for real-world adoption across various sectors, inviting exploration of the expanding ecosystem and the transformative potential of MPC technology for privacy-driven blockchain solutions on our website.
In 2023, Partisia Blockchain witnessed substantial team growth, strategically expanding its leadership to drive innovation and community engagement. In spring, Bakyt Azimkanov assumed the role of Head of Communications, contributing extensive experience from the Cardano Foundation in strategic communications. Simultaneously, Tiago Serôdio joined as the Head of Community, leveraging over a decade of experience, notably from his role at the Cardano Foundation. In October, Shirly Valge became our Chief of Growth, bringing a decade of disruptive technologies and business development expertise. Mathias Glintborg was appointed as Head of Product, overseeing MPC and blockchain solutions for DeFi, data sharing, and digital identity. Finally, Maria Cocu and Alexander Pombo joined as Community Growth and Engagement Associate and Adoption Officer, respectively, enhancing outreach and fostering connections within diverse sectors, demonstrating Partisia Blockchain’s commitment to leadership excellence and top-tier talent acquisition.
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