Today we will start reviewing the techniques and methods that blockchains can use to achieve privacy from operators. We begin with state minimization, including edge blockchains like @0xMiden or state routing based networks such as @CantonNetwork.

Lido Core 2026 Upgrade The biggest evolution of Lido Core brings improvements across the staking modules to keep the protocol aligned with Ethereum’s roadmap and ensure long-term protocol sustainability. No action is required from stakers - the upgrade is protocol-level. ↓

For much of the cloud era, infrastructure location was treated as an implementation detail. That assumption is becoming harder to sustain in financial services. Regulators are extending their scrutiny beyond banks and financial-market operators to the technology providers beneath them. Concentration risk, jurisdictional exposure, operational autonomy and the ability to recover from disruption are now being examined as financial-stability questions. This has a direct consequence for onchain finance. As distributed networks begin supporting payments, tokenised assets and settlement workflows, institutions will need considerably more certainty about the environments beneath those systems: where the infrastructure operates, which laws govern the data, who controls administrative access, how upgrades are managed and what happens when a provider becomes unavailable. Financial infrastructure has always been shaped by jurisdiction. Its digital form will be no different. The market is therefore likely to develop through a combination of regional infrastructure, institution-controlled environments and shared financial networks. These systems will serve different regulatory and commercial purposes, and many will need to operate alongside public infrastructure rather than replace it. Location, governance and operational control are moving into the architecture itself. For the next generation of financial systems, where infrastructure runs will be inseparable from what the infrastructure is permitted to do.

Today we're launching EthSystems. We build confidential systems for institutional Ethereum. Institutions want to use Ethereum, but one of the biggest problems is the lack of built-in, modular privacy tools. We were the Ethereum Foundation's Institutional Privacy Task Force (IPTF) for the past year. We had hundreds of conversations with central banks, regulators, tier-one banks, and asset managers, shipping open source work the whole time. Wall Street has found crypto as an asset class, but not yet as commercial infrastructure. Institutions want to run real flows on Ethereum: stablecoins, tokenized assets, settlement. These are businesses with billions of dollars on the line, and no bank will operate in full public view. On a public ledger, confidentiality is the hard part: each party to a transaction should see what it has a right to see, and nothing more. We have a year of proof of work: private bonds, confidential stablecoin transfers, private settlement across chains, the Ethereum Privacy Map, and more. All with protocol specs and security properties, at our website. We've spent a decade working on privacy in crypto. We know there's no silver bullet. Different use cases need different systems, each designed, specified, and hardened properly, and someone has to do that work. That's why EthSystems exists. We're an independent, for-profit company, backed by long-term Ethereum-aligned investors. This is a decade-long transition, and we aren't going anywhere. If you're an institution that wants to build on Ethereum, talk to us. We're hiring: BD in New York, protocol engineers, ops: join@ethsystems.org

“If we want autonomous finance to become real (and I think we have months, not years, to get this right) we need to stop treating agents like human users with wallets. They are financial actors. Financial actors require verified agency,” says @provenauthority Billions Cofounder & CEO Evin McMullen