As you may already know, JPMorgan partnered with ZCash earlier this year, in a move which drove the ZEC price insanely high. Recently, the company announced that it integrated ZCash zk-snarks technology into its private, Ethereum-based blockchain, called Quorum.
Why is this important?
Well, apart from proving once again that fiat economy can benefit a lot from the blockchain technology, as we recently saw with IBM and Stellar Lumens, for instance, this actual milestone is even more exciting.
The privacy technology integrated by JPMorgan obfuscates a transaction in such a way that nothing - and I mean nothing - can be revealed about it, not even the public keys of the actors. But, and here is where it gets interesting, if one of the actors handles the public key to a third party authority, that authority can look at the transaction and even audit it for, let's say regulatory purposes. And the actors will go through this process without revealing their private key.
So an asset created on this blockchain can remain private, while only relevant authorities can audit, if need will be.
Why is this huge?
Because some of the institutions regulating the market may disappear, if the audit can be done directly, between the asset holder and a higher instance.
Less regulation is good. And as long as traditional institutions can coexist amicably with newer technology - which I think will happen, eventually, I don't see a world in which there will be only crypto - I think everybody is happy.
Or at least that's the way it should be.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me 
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