Conclave allows firms to securely aggregate their datasets to solve shared business problems for their customers and across markets, without revealing the actual data to anyone. It paves the way for a new generation of trusted services that can detect fraud, reduce cost, build high-value multi-party analytics, and more — where the owners of the data control how it is processed.
Conclave solves critical business challenges where data needs to be shared, but without any one person or firm seeing another’s information. For example, a bank that operates an electronic market, but wants to assure its customers that it does not see their data; or an insurer that needs to share information about fraudulent claims without breaching confidentiality rules. Traditionally, data is only encrypted at rest and in transit, but Conclave also protects it while it is being processed.
The Conclave platform, which harnesses the combined power of confidential computing with Intel Software Guard Extensions (Intel SGX), was built to be developer and business-friendly. It has a high-level, intuitive API allowing users to easily write applications on any operating system, as well as code in their language of choice.
Conclave is currently available as a stand-alone platform and is compatible with R3’s flagship blockchain platform Corda Enterprise. Full integration between Corda Enterprise and Conclave is forthcoming.
David E. Rutter, chief executive offcer at R3, said: “Proprietary data—if shared and pooled effectively—holds the key to greater analytics, insight, and commercial opportunity. Yet, many firms resist sending it because of an inherent mistrust in how it will be used. R3’s Conclave is uniquely designed to solve this problem of trust through the promise of technologies such as confidential computing and Intel SGX. Conclave offers best-in-class technology, backed by the rich experience of our developers and business team, to empower customers to bring about a new era of privacy in data sharing, processing, and analysis.”
Image Credit: iStockphoto/marchmeena29