Shiba Inu has made a reputation for itself over time, and with each latest partnership, the meme coin moves further away from the realm of being a ‘joke’ to being a mainstream investment option. Once more, the team behind the popular crypto project have made a serious move after announcing a brand-new partnership. This partnership with Zama, “an open source cryptography company that builds state-of-the-art Fully Homomorphic Encryption (FHE) solutions for blockchain and AI.”

A Latest Frontier For Shiba Inu

Shiba Inu marketing lead and exec, Lucie, took to the X (formerly Twitter) platform to inform the SHIB community of an exciting latest partnership. This partnership with Zama is in keeping with the team’s vision to create a Fully Homomorphic Encryption (FHE) system.

Based on the post, leveraging the Zama system creates for safer environments for interacting with datasets by not requiring decryption of the data for evaluation. This fashion, corporations are in a position to avoid security issues while carrying out their analytics without fear or threat of exploit. Lucie uses the analogy of “a locked box that permits operations without being opened.”

Moreover, the Shiba Inu team member outlined how the FHE technology could have significant impacts for crypto. One example of that is the creation of confidential smart contracts which might be in a position to perform their functions without making any sensitive data or information public.

One other application comes into play for non-fungible token (NFT) auctions. FHE makes it possible for investors to make private bids on an NFT without revealing it to the general public. Eventually, only the winning bid is made public, ensuring the privacy of bidders long after the auction is over.

Other applications include securing data evaluation by allowing for pooled data evaluation, encrypted key signing which helps to boost security when carrying out cross-chain transactions, and facilitating investments in assets without disclosing the data of the investors, a serious concern within the Real-World Asset industry.

Major Applications For SHIB

In the case of Shiba Inu itself, Lucie also outlined how the partnership with Zama will profit the project. For one, the marketing lead explains that the partnership will help to open the door for brand new use cases for the ecosystem’s projects. This ranges from BONE to TREAT, in addition to the upcoming Metaverse game and the Shidentity program.

“Although FHE continues to be evolving and improving in efficiency, its potential is substantial, and the research community is actively working to beat the challenges related to it,” Lucie told the community.

Featured image created with Dall.E, chart from Tradingview.com