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INNOPAY: A paradigm shift towards Near-Zero-Knowledge e-commerce

Near-Zero-Knowledge e-commerce could allow e-commerce businesses to structurally reduce their cybersecurity costs, minimise reputational damage caused by data breaches and increase digital trust while offering the same user experience and revenue potential as today.

E-commerce businesses of all sizes gather personal information for various reasons, including to execute the broad range of e-commerce functions, improve the user experience and boost their revenue potential. The benefits of collecting and distributing personal information are obvious, but protecting that same personal information is becoming increasingly costly for e-commerce companies from an information security perspective.

Despite this, e-commerce businesses do not appear to be challenging the status quo by actively searching for alternatives that allow them to maintain the same level of functionality without collecting personal information; there is a notable lack of development – and use – of such alternatives. This is all the more surprising because a suitable alternative already exists: Near-Zero-Knowledge (NZK) e-commerce.

At INNOPAY, we believe that NZK e-commerce could allow e-commerce businesses to structurally reduce their information security costs, minimise reputational damage caused by data breaches and increase digital trust while offering the same user experience and revenue potential.

Read the full article here.

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