6 ms·

The advertising case seems to be solved by local models as well, then the data doesn't even need to be sent to the server. The Swift one is interesting, but I

The advertising case seems to be solved by local models as well, then the data doesn't even need to be sent to the server. The Swift one is interesting, but I don't understand why the transaction needs to be encrypted, or more specifically why the model can only run in the encrypted part of the pipeline. Super cool tech, but I guess I just don't see the application yet. And wow, I worked with Marc a decade ago, small world.

furkanturan 1mo ago
Regarding the SWIFT example, transactions between banks across countries go through SWIFT’s infrastructure and are encrypted for regulatory and security reasons. Banks and financial institutions operating at this scale are also required to use HSMs (Hardware Security Modules) to meet security and compliance standards, ensuring that sensitive data is processed securely. Suggesting alternative approaches to such large corporations is not straightforward. Their IT and security teams cannot afford to risk handling sensitive financial data in plaintext. No manager would readily approve a solution that offers additional functionality at the cost of deviating, even slightly, from well-established compliance practices. Encryption is therefore fundamental to how these systems operate. The challenge arises when these institutions need to perform computations or checks on such encrypted data. Decrypting the data, even under controlled conditions and with trained personnel, is operationally complex, introduces additional risk, and can create a significant compliance burden. This is where FHE offers a compelling solution. We demonstrate how a check can be performed directly on encrypted transactions against a known blacklist, without requiring the underlying transaction data to be decrypted. P.S. It is great to work with Marc :)

6 ms·

The advertising case seems to be solved by local models as well, then the data doesn't even need to be sent to the server. The Swift one is interesting, but I

by snovv_crash 1mo ago

furkanturan 1mo ago
Regarding the SWIFT example, transactions between banks across countries go through SWIFT’s infrastructure and are encrypted for regulatory and security reasons. Banks and financial institutions operating at this scale are also required to use HSMs (Hardware Security Modules) to meet security and compliance standards, ensuring that sensitive data is processed securely. Suggesting alternative approaches to such large corporations is not straightforward. Their IT and security teams cannot afford to risk handling sensitive financial data in plaintext. No manager would readily approve a solution that offers additional functionality at the cost of deviating, even slightly, from well-established compliance practices. Encryption is therefore fundamental to how these systems operate. The challenge arises when these institutions need to perform computations or checks on such encrypted data. Decrypting the data, even under controlled conditions and with trained personnel, is operationally complex, introduces additional risk, and can create a significant compliance burden. This is where FHE offers a compelling solution. We demonstrate how a check can be performed directly on encrypted transactions against a known blacklist, without requiring the underlying transaction data to be decrypted. P.S. It is great to work with Marc :)