On-chain privacy-preserving technologies such as zero-knowledge proofs have applications in fields such as financial services and healthcare, according to Google Cloud’s Head Of Web3 Engineering.

Speaking at CCDAS 2023, James Tromans called ZK-proofs “particularly relevant in financial services and Web3 more broadly,” adding that, “the idea that you're going to put option contracts on-chain and have the counterparties and the strike price and the notional so forth, visible to everybody makes no sense.”