Svmuu News: The Ethereum Foundation’s privacy team has spun off to form a for-profit company, EthSystems, and has secured support from Joe Lubin, co-founder of Ethereum, as well as Bitmine—a treasury company associated with Ethereum—and SharpLink.EthSystems is a for-profit company aiming to build “confidential systems on Ethereum” for institutions. Its co-founders—Mo Jalil, Oskar Thorén, and Aaryamann Challani—were previously employees of the EF and led the EF’s Institutional Privacy Working Group.
The team stated: “EthSystems’ business model is simple: to provide customized consulting services that address the most challenging issues institutions face when adopting Ethereum. In practice, this means continuing our previous work, only now we’re charging for it.” (The Block)