/biz/ - Business & Finance

>>53978790
What makes Oasis unique and capable of these feats is the fact that it uses Trusted Execution Environments (TEE's).

Without boring you too much, a TEE is a secure enclave within a CPU that allows for confidential processing of information, where no one has access to the sensitive data, not even the person processing it, because the processing takes place within the TEE. It provides end-to-end encryption. Basically, the point of TEE's is to be able to process sensitive data without the data itself ever being revealed to anyone. It allows for confidential smart-contracts. This is not possible with ZK tech, for example.

There are many situations where you would not want certain data to be public or known by anyone, like personal data, private information, healthcare data, etc. In fact, in many instances, this data is protected by regulations. You're not even allowed to touch this type of data UNLESS you use privacy preserving technology like TEEs.

Pic related explains it quite well. Encrypted data goes in, gets processed, and then gets spit out after being encrypted again, and the beautiful part is you can code into the contract what information you want to keep encrypted or not, this is why it is able to separate personal identifiable information from data, credit score, or whatever else.