Flare Launches Confidential Compute for Institutional Use

Flare, a company founded by Hugo Philion, aims to provide a secure and private platform for large financial institutions to engage with the XRP Ledger. The company has developed Confidential Compute, a system that enables institutions to trade and lend using XRP-backed assets without exposing their activity publicly.

The system uses Trusted Execution Environments (TEE) to create sealed private rooms for computation. This allows computers to run code in complete isolation, even without the knowledge of the computer's operator. Institutions will be able to trade real-world assets issued on the XRPL, borrow against them, or run a compliant decentralized exchange without publicizing any of the activity.

Flare's FXRP token, which lives on the Flare blockchain instead of the XRP Ledger, is set to play a key role in this system. The company has already launched FAssets on its mainnet and spent years testing the system.