The Visa international payment network is working on a blockchain system for cooperative
consistent with policy calculation of large personal data sets.
Visa Research, a department of Visa that focuses on research and development, data analysis,
payment security and innovations, has released a policy document describing a blockchain-based
system for compatible operations. The system is called LucidiTEE, where TEE stands for
Trusted Execution Environments.
The system is aimed at creating applications, which process large data sets and are meant to
serve a large number of users. LucidiTEE allows participants to collectively process personal
data, providing clarity and control with guarantees that other parties will not be able to use the
results of calculations.
To ensure that calculations are fair and cleared with policies, the system uses special protocols
between the TEE and the shared registry.
Industry players have long been concerned about the security of personal data processing and
sharing. At BlockShow Asia 2019, a group of crypto industry leaders announced the creation of
a Protocol that maintains confidence and complies with regulatory requirements of the Financial
task force.
The technical document describes a Protocol that would allow virtual asset service providers in
different jurisdictions to conduct transactions among themselves, without necessarily knowing
each other, and without having a registration in any Central authority.