On the application of zero-knowledge proofs in Finance

At Ortec Finance’s R&D Lab we are working on transformational innovations (Nagji and Tuff, 2012). We explore and experiment with the latest developments in technology and methodology. Our work with blockchain technology let us to our interest in zero-knowledge proofs (ZKPs). We are currently conducting academic research in the domain of decentralized pensions where actuarial computations are off-loaded off-chain to nodes which preserve privacy and supply proofs using zk-snarks.

About this project

In this project we want to extend the application of zero-knowledge proofs to other applications in Finance. The power of such technology is to gain trust between two parties with possible opposing interests and incentives while privacy on the data remains preserved. For example fund managers are often not incentivized to be transparent on real-time positions. Revealing real-time information on their trades would expose their strategy and craftsmanship. While, investors, regulators or risk managers prefer real-time (aggregated) insights. Recent developments in ZKPs make them more applicable for deploying on production systems (Virza. 2017). Hence, ZKPs, might be an interesting piece of technology for the financial sector to gain trust without the intermediation of a third party.

What will you do?

In this thesis the student will review current literature in ZKP and gain insight in when to use what; interactive vs. non-interactive, with or without trusted preprocessing. Subsequently the student will propose, under supervision of financial market experts, several use-cases of which one will be prototyped during the project.

Who are you?

  • Background in cryptography
  • Interest in finance
  • Solid background in mathematics
  • Experience with scientific programming languages such as Python. Experience in more low level languages is a plus
  • References

    Nagji, B., & Tuff, G. (2012).SPOTLIGHT ON INNOVATION FOR THE 21ST CENTURY-Managing Your Innovation Portfolio. Harvard Business Review, 66.

    Virza, M. (2017).On deploying succinct zero-knowledge proofs (Doctoral dissertation, Massachusetts Institute of Technology).

    What we need from you

    To take your application into account, we would like to receive several documents from you:

  • An up to date CV
  • Your motivation for Ortec Finance and this assignment
  • Information about the requirements in terms of start date, period etc.
  • List of marks
  • More information or to apply?

    For more information regarding this position please contact Anne van der Ven (HR Business Partner a.i.) at +31 10 700 50 00. To apply, please use the application button below to send us your cover letter and CV.

    We hope to meet you soon!

    Apply for this vacancy