The research project is valued at more than $340,000.
Nanyang Technological University (NTU) has reportedly partnered with online payment platform PayPal to advance cryptography research in secure multiparty computation (MPC) in Singapore.
“MPC is a cryptographic technique which enables a group of participants to jointly and securely process data without compromising privacy,” said PayPal, noting that the application of the technology could strengthen the platform’s resiliency and “reduce the risk of adversaries bringing down its cryptographic platform and its availability.”
Valued at over $340,000, the research project would be inclusive of a PayPal financial grant of $140,000.
Meanwhile, the Strategic Centre for Research in Privacy-Preserving Technologies & Systems (SCRIPTS) would be at the helm of NTU for the project.
Moreover, two of NTU’s Intellectual Property developed by Associate Professor Wang Huaxiong, the lead investigator of the research project at SCRIPTS, would be enhanced and prototyped jointly with PayPal use cases.
“SCRIPTS will deliver a highly secured, resilient, and efficient cryptographic protocol that aims to strengthen the cryptographic operation used in PayPal’s data protection and security,” added PayPal. “By the end of the 15-month project, PayPal will have laboratory-based and large-scale prototypes developed based on use cases and requirements given by PayPal, as well as technology publication that can be shared with the industry.”
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