# Business Privacy, Harder & More Valuable Than You Think | Paul Brody at Pragma Prague 2025

- Speakers: [Paul Brody](https://streameth.org/speakers/paul-brody)
- Channel: [ETHGlobal](https://streameth.org/ethglobal)
- Date: 2025-10-09
- Duration: 19:47
- Topics: Paul Brody, EY, business privacy, enterprise blockchain, zero-knowledge proofs, ZKPs, Nightfall, Starlight, Ethereum, supply chain, smart contracts, regulatory compliance, confidentiality, tokenization, coordination, DeFi, privacy tech, multi-party computation, homomorphic encryption, trusted execution environments, quantum resistance, financial services, DEX, enterprise adoption, Big Four, audit, scalability, programmability, composability, permanence, GitHub, open-source, DevCon, Aztec
- Watch: https://streameth.org/watch/yt-g8mMdzc3z6U
- YouTube: https://www.youtube.com/watch?v=g8mMdzc3z6U

## Description

In this talk at Pragma Prague 2025, Paul Brody from EY dives into the critical role of privacy in enterprise blockchain adoption. He explains why business privacy is more complex than consumer privacy, covering regulatory challenges, zero-knowledge proofs (ZKPs), and scalable solutions like EY’s Nightfall and Starlight.

Brody also discusses the future of privacy tech, compliance strategies, and why Ethereum is the backbone for enterprise blockchain. A must-watch for anyone interested in crypto, supply chain, DeFi, and enterprise blockchain solutions.

00:00 Introduction to Paul Brody and business privacy
00:49 Why business privacy is harder than consumer privacy
01:15 The value of privacy in enterprise coordination
02:12 How modern supply chains complicate coordination
03:12 Tokenization and smart contracts for business processes
04:17 Two types of privacy: Money vs. agreement terms
05:14 EY’s Nightfall (ZK rollup) and Starlight (private smart contracts)
06:18 Five challenges in enterprise privacy solutions
07:56 Regulatory compliance and confidentiality in privacy tech
09:25 Key requirements for enterprise privacy solutions
10:33 Privacy challenges in supply chain traceability
11:06 Four major privacy tech choices (ZKPs, MPC, HE, TEEs)
12:10 Why EY chose zero-knowledge proofs (ZKPs)
13:25 Evolution of Nightfall from prototype to production
14:03 Early high-value use cases for private transactions
14:33 Smart contracts for enforcing business agreements
15:31 Future of scalable, general-purpose privacy solutions
16:11 Performance improvements in ZKP technology
17:15 Why EY is an Ethereum maxi firm
18:25 Q&A: Other Big Four firms entering blockchain

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🇨🇿 *Pragma Prague*
Pragma Prague 2025 was held on May 29th at Holešovice Market in Prague, Czech Republic and was an in-person summit for builders and leaders in the web3 ecosystem. This event was in collaboration with ETH Prague. Watch the full Pragma Prague YouTube Playlist here: 

ETHGlobal's Pragma series takes place in cities around the world, and is designed to be a different kind of event. Pragma is a one-stage conference with founders-only on stage, bringing together a small group of curated attendees and speakers to discuss the future of web3 and reflect on the past. 

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✅ Follow Paul Brody
X: https://x.com/pbrody

✅ Follow Kartik Talwar
X: https://x.com/TheRealKartik

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