Digital Platformer and Partisia Partner to build Privacy-Preserving Fintech Applications

By Sofie Krabbe,

Partisia Platform, Confidential Computing, partnership

In a society where interconnected digital procedures can not be overstated, the need for data security solutions and innovative methods to safeguard our data, while maintaining user control - is more important than ever. And the fintech industry, having financial fraud detection and the protection of private data as the focal points, is no exception.

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Digital Platformer and Partisia are entering into a partnership to develop fintech applications focused on financial security and privacy protection. This collaboration centers around Partisias’s platform and includes efforts to develop stablecoins and combat financial fraud.

Digital Platformer, a pioneer in decentralized solutions for the financial sector in Japan, and Partisia, an innovative tech company and a global leader within Multiparty Computation and advanced cryptography are joining forces. This partnership will leverage Partisia’s technology and Digital Plartformer’s expertise to create innovative solutions that ensure transaction data confidentiality while enabling financial fraud detection. This approach balances privacy and transparency, ensuring compliance with data protection and antitrust regulations.

Japan is actively embracing blockchain technologies, aiming to create decentralized solutions for verifiable identity across industries and sectors as well as stablecoins as a more secure and agile e-cash solution. 

At the same time privacy is at the core of the Japanese data protection regulation dubbed APPI and similar to the GDPR regulation in the EU. 

This type of regulation - which is also the primary difficulty - is in direct conflict with the transparency that is at the core of blockchain technologies.

It is the regulatory landscape with GDPR and the accountability that comes with the latest AI and Data act in the EU and the compatibility of Partisia Platform, that makes the product market fit ideal for the Japanese market. The collaboration with Digital Platformer utilizes this to its fullest extent.

Detecting fraud by combining privacy and transparency:

The biggest endeavor in the collaboration is the work on the type of financial fraud detection that tackles traditional bank transactions. Financial fraud is an increasing problem that globally costs trillions for dollars and fuels organized crime from drug dealing to human trafficking. The fraudsters become more and more advanced and money moves around in patterns that become harder and harder to distinguish from normal behavior. 

Fortunately, most financial fraud passes through banks and other financial institutions, which leave digital traces originating from single transactions between a sender and a receiver. Most fraud detection today is conducted within a single bank with too little information to recognize fraud. Information has to be shared across not just the sender and the receiver but the large number of banks involved in the chain of transactions used to disguise fraud. 

The combination of privacy and transparency that comes with the Partisia Platform allows for transaction data to stay confidential while using the very same data to detect financial fraud, by connecting the dots between different banks, in a way that has not yet been possible.

By merging the expertise from both Digital Platformer and Partisia we’re developing a powerful and innovative tool that provides comprehensive insights into the various activities occurring in different banks. This includes analyzing behavioral patterns, transactions, account numbers and much more. In other words we’re providing the ability to not only detect fraud in real-time but we’re also predicting future fraudulent activities. 

The privacy tools ensure compliance with both data and antitrust regulation and transparency ensures accountability around the use of confidential computation. In combination these two sets of tools provide the foundation for a number of new novel ways to combat financial fraud. 

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About Digital Platformer:

Digital Platformer, founded in Tokyo in 2020, a pioneering fintech company with significant track record in blockchain technology in Japan, We provide municipalities and businesses with digital regional promotion vouchers and decentralized ID (DID) insurance platforms, and Japan’s first deposit-based stable coin issuance technology.

Since 2023, we have been developing a new consortium-based blockchain platform designed to meet the diverse needs of local governments and enterprises.

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About Partisia: 

Partisia is a global pioneer in Multiparty Computation (MPC) and privacy-preserving computations. Partisia has sold commercial-grade MPC software solutions since 2008 with an initial focus on secure high-stake auctions used for trading energy and spectrum licenses. Today Partisia’s MPC solutions are sold as infrastructure across a variety of services from key management, data activation, statistics, voting, e-cash etc. The commercial activities include spinouts like Sepior that was recently acquired by Blockdaemon, and Partisia Blockchain Foundation, a Swiss foundation that organizes and launches a public blockchain built by Partisia.

Partisia is a privately owned company registered in Denmark. The ownership combines internationally renowned experts in advanced cryptography, software and business development.




Digital Platformer

Digital Platformer