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On November 13, 2019, Unbound Security proudly launched the MPC Alliance, along with Sepior and ZenGo.
The Alliance defines itself as “an association of parties with a shared interest in accelerating industry awareness and adoption of multiparty computation (MPC) based technologies, products, and services,” noting that “[a]s more aspects of our personal and professional life and work become digitized, the greater the value of digital information, and the greater the impact of digital misuse or theft.”
Unbound’s co-founders stated after the announcement that while the organization is a conglomeration of competitors, working together will advance cybersecurity for the greater good.
Co-founder and current CEO Professor Yehuda Lindell noted Thursday that MPC has moved from the theoretical to the practical – contrary to a common misconception that the technology is still in its infancy.
“Not only is MPC mature and efficient enough to solve many different use cases in practice, there are many companies actually using it to solve those problems,” Lindell said. “Just 5 years ago, almost no one outside of academia knew what MPC was. Now, there is broad awareness of MPC’s potential in industry, and what it can do for customers.”
“The MPC Alliance is a great step forward for MPC in industry,” Unbound’s co-founder, Professor Nigel Smart, added. “It aims to bring together all of the vendors and users of MPC so that they can promote this groundbreaking technology.”
“Everyone in this space, whilst competing with each other, also need to co-operate so as to get the message across that MPC is not a pipe dream but a reality,” he continued. “Hopefully, all the companies with an interest in MPC that missed out on the launch can join with us in the coming weeks.”
Lindell added a historical perspective.
“MPC has taken a long road from the pure theory of the late 80s and 90s,” Lindell reflected. “When I began researching MPC, it was unclear that it would ever be efficient enough to use in practice nor that anyone would actually want to use it. The forming of the MPC alliance shows how far we have come.”