Ethereum Foundation spinout EthSystems targets banks with blockchain privacy technology
The spinout comes amid one of the biggest organizational shakeups at the Ethereum Foundation in years.
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Summary
- Former members of the Ethereum Foundation’s Institutional Privacy Task Force have launched EthSystems, a new for-profit startup that will build privacy infrastructure for banks and other institutions using Ethereum, commercializing work previously developed inside the foundation.
- The launch is the latest EF spinout following recent organizational changes, joining newly formed entities EthLabs and Ethereum Institutional as the ecosystem restructures its approach to protocol development and institutional adoption.
