Any interested person can now view the code behind Ernst & Young’s experimental private-transaction project on the Ethereum blockchain.
EY, one of the largest accounting and consulting firms in the world, released the code for its project “Nightfall” – now on Github.
“Nightfall integrates a set of smart contracts and microservices, and the ZoKrates zk-snark toolkit, to enable standard ERC-20 and ERC-721 tokens to be transacted on the Ethereum blockchain with complete privacy. It is an experimental solution and still being actively developed. We decided to share our research work in the belief that this will speed adoption of public blockchains.”
The development team warns against using the open source code for actual assets.
“This is not intended to be a production-ready application and we do not recommend that you use it as such. If it accelerates your own work, then we are pleased to have helped. We hope that people will feel motivated to contribute their own ideas and improvements.
Note that this code has not yet completed a security review and therefore we strongly recommend that you do not use it in production or to transfer items of material value. We take no responsibility for any loss you may incur through the use of this code.”
Nightfall is intended to help developers build solutions that will make clients more comfortable with blockchain transactions. EY’s corporate clients span a number of industries that are using blockchain to streamline procedures, from supply chain management to food tracking to data flow between corporate branches.
EY includes among its clients some of the biggest companies and tech giants in the world.
- Hewlett Packard
- State Street
- Coca Cola
- General Motors
- Lockheed Martin
- 21st Century Fox
- Intel Corp
- Time Warner
- Coca Cola European Partners
- Alphabet Inc.
- News Corp
- Texas Instruments
Source: Big 4 Accounting Firms
Paul Brody, EY global innovation leader, tells Coindesk,
“We’re trying to put together an entire suite of capabilities that would include audit and security [and] would allow an enterprise to say yes we are comfortable that we can do secure, private, reliable and regulatory compliant business transactions on a public blockchain network.”