ING Bank improves blockchain privacy with zero-knowledge proofs

ING Bank announced the release of its Zero-Knowledge Set Membership (ZKSM) solution at the Sibos banking conference. ZKSM adapts zero-knowledge proofs, the ability to prove possession of a secret without revealing the secret, into a simpler form called zero-knowledge range proofs, the ability to prove that a number is within a specific range. ZKSM allows for other types of data aside from numbers to be used for validation, such as proving dimensions and geographic positioning.

ZKSM could help with processes critical to banking like know-your-customer (KYC). For example, an individual could validate that she's part of the EU without disclosing which country she is from. (Source: CoinDesk)