Although ZEC has dropped significantly, this doesn’t mean the privacy sector has been completely disproven. There are still some new projects in the privacy space. Considering high-value data scenarios like healthcare, finance, or enterprise-level applications, no one would dare entrust core assets, trade secrets, or sensitive private keys to a completely exposed external model. Arcium is working on confidential computing infrastructure for next-generation AI systems. Recently, they acquired the veteran privacy computing team Inpher (previously backed by JPMorgan and Amazon), whose vertical expertise is clearly more focused on enterprise-level implementation.