Zama is an open-source cryptography company working on Fully Homomorphic Encryption (FHE), a technology that lets you perform calculations on encrypted data without decrypting it first. This is crucial for keeping sensitive information private, especially in blockchain and AI, where data security is a big concern. Imagine doing math on a locked box without ever opening it—that’s FHE in action!  As of July 13, 2025, Zama has raised $57 million in funding, becoming the first FHE unicorn with a valuation over $1 billion, and their public testnet is now live, letting developers build privacy-focused apps.

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Why It MattersThe evidence leans toward FHE being a game-changer for blockchain privacy. Public blockchains are transparent, which can compromise user data, but FHE allows computations without exposing the data. This could make blockchain more secure for financial transactions, identity management, and more, addressing a key barrier to adoption.  However, some in the crypto community debate its scalability and real-world use, so it’s not without challenges.