Blockchain enabled consumer lending is currently a small niche market, with most projects being built on transparent protocols or being partially centralized. Ether or other ERC-20 compatible tokens are usually used as collateral by the borrower, with the credit history being linked to the public key of the borrower. A privacy-conscious borrower will be required to use multiple pseudonymous borrowing accounts to maintain confidentiality, as all transactions are freely available on the Ethereum blockchain. This creates friction for a borrower to maintain a long-term credit score.

Compliant lending platforms are technically possible on QURAS, as client confidentiality can be maintained through secret contracts and transactions utilizing zero-knowledge proofs. Borrowers can maintain credit scores privately, only showing the scores to relevant lenders with prior permission.

Decentralized autonomous organizations (DAO) structures can exist within the Quras operating system by defining operating rules within a smart contract. Organizations can provide incentive mechanisms or payroll management through a separate secret contract via encryption to honor the confidentiality of employee salary details.

Traditionally, most organizations that pay employees in cryptocurrencies are required to mix wallets off-chain (usually within an exchange) in order to keep salary data private, or use external services to streamline the process.8 This method incurs many hidden fees such as withdrawal and additional transaction gas fees, creating a barrier for smaller salaries and microtransactions.

With QURAS , both the DAO structure and the secret payroll contract can be completed entirely on-chain, greatly reducing network fees and simplifying the process. DAO participant structures can be obscured and operational using zero-knowledge proofs, and salaries can be paid out using transactional privacy methods, which anonymizes both the transaction value and the receiver. For trustless virtual organizations, enforcing salary confidentiality by code is paramount and could lead to a new paradigm of online interactions.

Second-price sealed auctions rely on bid confidentiality to encourage participants to bid their true value. The bids are submitted privately and at the end of the auction period, the resulting highest bidder wins and pays the price of the second highest bidder.9 With this model, auction periods are reduced, and all bidders can maintain anonymity.

This can be implemented via smart contracts to automatically coordinate the auction process however, interactions with the contract must have the bidding amounts obscured, otherwise the offered bids are visible on public block explorers. In QURAS, secret contracts allow for confidential interactions with smart contracts, creating a possibility for decentralized trustless auctions.

Within the healthcare field, it is possible for smart contracts to interact with wearable IoT devices and allow automatic reporting and data collection between the doctor and patient. Due to privacy being a core concern, this has not yet materialized, as vital data is valuable in black markets and data leaks can be particularly harmful to both companies and individuals involved. With privacy being implemented at the level of transaction initiation and contract interaction, mass medical data harvesting can be conducted securely and ethically.

Smart Grid is like a central control system for power plants and consumers. It serves an important role in maintaining the convenience of utilizing conventional energy and natural energy with minimal waste. This is achieved by using the latest IT technology to supply well- balanced electric power generated by natural energy such as sunlight, wind power generation, solar heat, etc. For this reason, countries in which electric power supply is unstable need Smart Grid. Smart Grid is needed by electricity-deregulated countries for the purpose of introducing renewable energy in large volume. Also, more distributed-type power supplies reduce CO2 emissions. This is expected to resolve the common issues regarding earth ecology by making it possible for each family to be self-sufficient in energy and to eliminate energy instability by selling existing and new energy.

On the other hand, energy usage data includes various information such as consumers, regions, periods, carriers, etc., and it may raise concerns regarding privacy and consumers’ personal habits. Cases of Smart Grid that involve many users such as energy-data sharing, the ID- based ring signature technology can be utilized for maintaining customer privacy such as information on target groups and individual users.

E-voting is used for various groups’ general assemblies and elections such as local elections for local government and political parties, national elections, shareholders’ meetings, unions, academic societies, condominium apartments, small-sized condominium apartments for investment purposes, etc.

There are upsides such as:
• The data origination of voting contents makes it possible to complete vote counts and reduce personnel expenses
• It is hard for invalid votes to occur due to illegible voting contents
• Since there is no need to physically go to a voting location, overseas
residents are able to vote easily and increased voting rate can be expected On the other hand, there are risks such as: • A part of data processing during voting is unclear,
• E-voting may not protect voting secrets
• There is a possibility of data falsification by hackers
In addition to using the blockchain for e-voting to receive the abovementioned benefits, using the ring-signing technology makes it possible to secure the privacy of voting data and prevent data falsification.

IoT is a mechanism for various items that were not originally connected to the internet (sensor devices, engine devices, buildings, automobiles, electrical devices, etc.) to be connected to a server and a cloud service through a network in order to exchange information both ways.

Connecting items to the internet makes it possible for buried data to be processed, converted, analyzed and coordinated on a server. Because of this, it is possible to create high values and services that were never available before.

The infrastructure of “Smart City”- which ranges from smart logistics solutions that improve traffic flow, reduce fuel consumption and prioritize vehicle repair schedules, to a home security system with simplified home appliances and equipment- is having more data-driven type systems being incorporated. This means that the range of the application is widening such that it is comparable to that of a local government, and can efficiently run a wide range of administrative programs such as waste management and police work.

However, since there is a possibility of entities being profiled and traced without the user’s agreement, privacy is an important problem in IoT protection. Users want to provide information without revealing their personal information while user information is acquired automatically.

Supply chain management is essential to an organization’s success and customer satisfaction and involves working with customers that are involved in a process of shipping commercial goods to pursue each other’s benefit.

Supply chain management caught the most attention when the beef industry’s faced serious problems with BSE (Bovine spongiform encephalopathy), production place deception, and bird flu. In the case of these events and others like them, the ability to trace products in an entire supply chain is vitally important.

More companies, mainly major manufacturers and trading companies, started utilizing blockchain to optimize supplies among supply-chain companies due to that security, safety, and product quality-related problems may affect various industries such as food, medical and manufacturing.

It has to be kept in mind that supply chain privacy problem will be larger in a business competition depending on the competitor(s) if confidential data is compromised. To resolve such an issue, zero-knowledge proof can be used for each participant to use output information without revealing input information. Using the ring signature technology, which protects information detailing which supply chain participants are grouped, can also be used for all participants to share only optimal data by maintaining the blockchain network while anonymizing information that should not be disclosed to other companies.

The distributed-type blockchain technology has a worldwide impact on the online game and gambling industry by making a safer and more trustworthy network possible without the existence of third-party interference and a gray market. Due to the popularity of the internet and mobile environment and the versatility of blockchain technologies, developers can build various types of games operated by distributed ledgers such as lotteries, sports betting, online pokers and slots. The online casinos and eSports industries are also impacted by these technologies.

Since Betonline became the first online casino which accepts Bitcoins in 2015, many cryptocurrency online casino have been created. Other major factors include: 1) the distributive nature, which is unique to the cryptocurrencies, makes it possible for individuals to avoid regulation barriers, and 2) the problem with a deposit system by credit card has been resolved.

When using the smart contract to issue tokens as cryptocurrencies within a game, players need tokens and the demand of native crypto coins increases as a result. A large-sized online game needs a token system that is easy to distribute, trade, and make payments within. The smart contract makes it possible to handle the high-level of privacy protection against token transactions and accounts, which are requested by users and operators.