With institutional funds accelerating their entry into on-chain transactions, the "complete transparency" of public blockchains has become a problem that needs to be addressed. Transaction records can be publicly verified, but the size of institutional holdings, fund flows, and trading strategies are not suitable for complete exposure. Truly institutional-facing on-chain financial infrastructure needs to simultaneously satisfy two things: verifiable information must be verifiable, and confidential data must remain encrypted. This is why I continue to follow @primus_labs. The goal isn't simply to "hide transactions," but to ensure that data is verified and usable while being protected by privacy. My understanding is that zkTLS focuses on verifying the authenticity of off-chain data. For example, proving that account or reserve data on a platform meets requirements, giving on-chain applications a basis for judgment while reducing unnecessary information disclosure. FHE, on the other hand, supports performing computations on encrypted data. Data can be used for analysis, pricing, or risk control, but this doesn't mean the original content must be entirely public. This idea becomes clearer when applied to real-world scenarios. Over-collateralization provides security for on-chain lending but also limits capital utilization. If a protocol can only see how much asset is pledged in a wallet, it's difficult to fully assess a borrower's off-chain financial situation. Only when relevant assets and historical records can be reliably verified can more evidence be provided for credit assessment. Similar needs will arise in RWA asset information verification, institutional fund management, and future agent behavior recording and reputation building. As more real-world data and financial activities enter the blockchain, "verifiable + controllable privacy" will become increasingly practical. https://points.primuslabs.xyz/?ref=P9DV6QH PrimusLabs zkTLS @KaitoAI