Privacy Preserving Computation in Home Loans using the FRESCO Framework

Abstract

Secure Multiparty Computation (SMC) is a subfield of cryptography that allows multiple parties to compute jointly on a function without revealing their inputs to others. The technology is able to solve potential privacy issues that arises when a trusted third party is involved, like a server. This paper aims to evaluate implementations of Secure Multiparty Computation and its viability for practical use. The paper also seeks to understand and state the challenges and concepts of Secure Multiparty Computation through the construction of a home loan calculation application. Encryption over MPC is done within 2 to 2.5 Seconds. Up to 10K addition operations, MPC system performs very well and most applications will be sufficient within 10K additions