SERO Privacy — Use Cases
Privacy protection is a key business element strongly demanded by individuals, organizations, and regulators in the real world. SERO supports Turing complete smart contract, which relies on various built-in privacy components on the underlying network to support the expansion of different ecosystems. The issuance of anonymous assets is no longer the exclusive privilege of those few with extensive knowledge of cryptography. Generic system developers can issue anonymous certificates (tokens) with arbitrary complexity on SERO network when business so demands, in order to establish their own privacy protected ecosystems. Based on anonymity, heterogeneous data structure, and smart contracts, SERO greatly expands its applicability for businesses on blockchain system. Here are some application clusters and typical usage scenarios.
A. Supply Chain Management
Blockchain can solve the transaction verification and traceability problems of upstream and downstream in a scattered supply chain system, simplifying or even eliminating centralized supply chain information integration system, and provide corresponding cost efficient solutions for related enterprise upstream and downstream counter parties to conduct financial activities. However, trade secrets, such as related to pricing, has the problem of being leaked on a distributed storage system. SERO can solve the problem of distributed information integration AND protection of trade secrets at the same time, making all participants along the supply chain benefit from the efficiency of the blockchain system.
B. Private Data Management
In this area, the financial services and medical & healthcare industries have strong demands. Take various aspect of medical & healthcare industry as example, privacy protection of personal digital information is a necessary infrastructure for the industry. The multi-functional privacy protection schemes and authorization mechanisms require patients, hospitals, insurance companies, and pharmaceutical companies, etc. have highly flexible and secure privacy protection related capabilities. The SERO system solves such key problems as storage rights and the usage authorization, that underlies between individuals and institutions, institutions and institutions, in the process of information transmission and sharing.
C．Trade Intermediary Platforms
The existing e-commerce conglomerates have in fact already formed new monopolies in the Internet era, whose advantage is their credit worthiness of centralized operations. But the new type of e-merchants can use the public governance mechanism offered by decentralized networks to achieve de-trusting in the critical guarantee and payment operations, relying on smart contracts to enforce and guarantee payment related middle & back end facilities, to support the breakthrough and development of the new e-commerce models. Online auction is another typical transaction matching process: while all parties involved in an auction demand fairness, the privacy of those submitting and bidding is another important aspect, which is often difficult to achieve due to conflict of interests. In these scenarios SERO can provide a secure, independent, and fair trading and paying environment.
D. Digital Asset Management
In the real world, the demand for personalized asset management is strong, but the trusted channels users must go through to complete these services are expensive and inefficient, which makes the two sides of assets and funds unable to meet efficiently. Asset managers can take full advantage of SERO’s complete privacy protection and smart contracts to implement on-chain core elements such as asset digitization, pledging, and rights transfer, where by fully personalizing the financing and investing, bypassing the operational difficulties brought by the trust obstacles, and make digital asset management an important component in the DeFi domain.
E. Gaming and Games
The development of online gaming industry has been constrained by the centralized mechanism. The applications of online gaming often need a high degree of privacy protection for the operators strategy in their competition. In such applications that involve large quantity of cash flow, decentralized smart contract system is needed to support multiple business aspects, and SERO network can support these links while fully protecting the privacy of all parties involved. The large-scale online game is another application scenario. It usually needs a point/pass system that is easy to circulate, trade, and settle points among accounts. SERO can completely implement the issuance and the clearing of such token like points, based on the SERO smart contract, while providing privacy protection for their circulation and trading.
Numerous large industries are involved in the digitization of business operation, user behaviors, and assets, and thus rises the privacy sensitivity that’s associated with them. They include commodity or products trading, supply chain management, payment and settlement, sensitive data management, digital assets circulation, etc. In these large scale real business fields, SERO blockchain system has a broad and deep application prospect.
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