"Zero-Knowledge Tech Moves Beyond Digital Assets to Transform Web2 Markets—Banks & Corporations Embrace It, Says Succinct CEO (KBW 2025)"

2025-10-04 16:05
Blockmedia
Blockmedia
"Zero-Knowledge Tech Moves Beyond Digital Assets to Transform Web2 Markets—Banks & Corporations Embrace It, Says Succinct CEO (KBW 2025)"

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ZK Technology: Bringing Zero-Knowledge Proofs from Web3 to Mainstream Web2

Zero-knowledge (ZK) technology is on the cusp of revolutionizing industries beyond digital assets and blockchain. By breaking traditional barriers, ZK is set to penetrate mainstream Web2 markets, including banking, regulatory compliance, and corporate applications. Where institutions once required in-house cryptographic specialists to harness ZK capabilities, developers today can leverage pre-built codebases to integrate this transformative technology seamlessly.

This shift was highlighted by Uma Roy, CEO of Succinct, during an interview at Korea Blockchain Week (KBW) on September 24. Succinct, a leader in zero-knowledge technology, offers ZK-Proof-as-a-Service, allowing developers to generate and utilize complex proofs without navigating the intricate world of cryptography. Major projects like Polygon, Lido, and Celestia already trust Succinct’s solutions, underscoring the platform's scalability and effectiveness.

Roy outlined Succinct's broader mission: transitioning from a Web3-native focus to solving real-world business challenges through ZK technology, including compliance, secure data sharing, and Know Your Customer (KYC) protocols. With its ambition to reshape traditional sectors, Succinct’s advancements mark a turning point in bridging blockchain innovations with the demands of conventional markets.

Democratizing ZK Tech: Succinct’s Core Mission

Succinct’s primary goal is to make ZK technology accessible to all. As Roy emphasized, zero-knowledge proofs are foundational for scaling Layer 2 (L2) projects and enhancing privacy on Ethereum’s Layer 1 (L1). However, their potential extends far beyond blockchain, addressing challenges like regulatory compliance and other Web3 business needs.

Central to this mission is the Prover Network, a decentralized protocol enabling developers to generate zero-knowledge proofs without requiring deep expertise in cryptography. Succinct's platform simplifies ZK adoption, making it accessible for both blockchain-native and traditional enterprises. Current users of the Prover Network include leading Layer 2 (L2) solutions, such as Polygon and Mantle.

Unlocking ZK’s Potential in Web3 and Beyond

Succinct tackles a critical gap in ZK adoption: the technical complexity often associated with implementing this cryptographic innovation. Historically, institutions like banks had to hire specialized talent to create and manage ZK systems. Succinct eliminates this challenge by offering plug-and-play ZK solutions that general developers can deploy within existing codebase frameworks.

“Our modular architecture removes the need for expertise in cryptography,” Roy explained. “This enables companies to easily integrate ZK technology into their operations, expanding its use cases to Web2 organizations and paving the way for mainstream adoption.”

By lowering the barriers to entry, Succinct positions itself as a driving force in scaling ZK applications for industries outside blockchain, building bridges between decentralized technologies and traditional enterprises.

Partnering with Industry Leaders: The Backbone of Succinct’s Success

Succinct’s credibility in the Web3 space stems from its partnerships with blue-chip protocols such as Polygon, Mantle, Lido, and Celestia. These projects collectively manage billions of dollars in total value locked (TVL), relying on ZK technology to optimize critical functions.

The versatility of ZK technology has been key to these collaborations. For example:

  • Polygon integrates ZK to bolster its security protocols.
  • Celestia uses ZK for advanced bridging solutions.
  • Lido applies the technology for oracle-based accounting processes.

This adaptability to diverse use cases, combined with advanced cryptographic engineering, gives Succinct an edge. Roy attributed the company’s success to its superior speed, cost-efficiency, and ability to address unique challenges across ecosystems.

The Role of PROVE Tokens in Succinct’s Ecosystem

At the heart of Succinct’s architecture lies the PROVE token, which powers the decentralized proof network. PROVE serves as both a utility and staking token, aligning incentives between proof requesters and providers.

Projects leveraging Succinct’s ZK services (such as L2 scaling solutions and privacy protocols) pay fees in PROVE tokens to request proofs. Provers—or those who generate these cryptographic proofs—earn tokens as rewards. To participate, provers must stake PROVE, creating a self-sustaining ecosystem of incentives.

“The staking requirement ensures provers continue reinvesting into the network,” Roy explained. “This virtuous cycle strengthens the ecosystem, with the token’s utility and value growing alongside our expanding impact.”

By anchoring its decentralized economy to PROVE, Succinct aligns technological innovation with economic sustainability, ensuring long-term success for its network and partners.

Expanding ZK Technology into Web2 Markets

While Succinct has achieved significant traction in Web3, its next chapter focuses on demonstrating ZK’s transformative potential for traditional Web2 industries. From regulatory frameworks like the Bank Secrecy Act to secure KYC systems, ZK can provide solutions to long-standing challenges in privacy and data security.

“One of the most exciting applications of ZK is secure, centralized data management,” Roy noted. “For example, users currently need to upload sensitive documents, such as driver’s licenses, to exchanges—leaving them vulnerable to data breaches. ZK ensures users can verify their credentials (e.g., age, residency, or sanctions status) without exposing unnecessary personal details.”

By applying this approach, ZK can safeguard individual privacy while enabling organizations to meet compliance requirements more efficiently. Roy highlighted Coinbase’s recognition of ZK as a key driver for regulatory modernization in the U.S., which further validates its cross-industry potential.

Sustaining Leadership in a Competitive Landscape

The growing interest in ZK technology has intensified competition among providers. Roy views this as a positive development, as it reflects rising recognition of ZK’s transformative applications.

“To remain ahead, we focus on hiring top-tier talent and continuously innovating,” Roy explained. “Agility and expertise are our strongest moats in an industry evolving as rapidly as blockchain and cryptography.”

Succinct’s commitment to delivering fast, cost-effective, and versatile solutions ensures it maintains its competitive edge in the face of increasing industry dynamism.

A Deepening Focus on Korea

Concluding her reflections, Roy expressed enthusiasm for the Korean blockchain market during her visit to KBW. Praising Korea’s vibrant community, she underscored Succinct’s desire to deepen engagement with local developers and businesses.

“The energy here is unmatched,” Roy said. “With such a dynamic environment, we see immense opportunity to bring ZK technology to Korea and unlock further innovation in this market.”

ZK’s Role in Mainstream Innovation

Through companies like Succinct, zero-knowledge technology is evolving from a niche Web3 tool into a mainstream enabler across industries. With its ability to scale blockchain ecosystems, enhance privacy, and streamline compliance, ZK promises a future where decentralized and traditional economies intersect seamlessly.

As Succinct expands its reach and drives adoption in Web2, its advancements signal a critical turning point for blockchain technology—one where zero-knowledge proofs become essential not just for tech scalability but for addressing global industry challenges.

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