Fabric Cryptography: Revolutionizing Privacy and Trust in the Digital Age
Fabric Cryptography, a groundbreaking hardware startup founded by MIT and Stanford dropouts Michael Gao and Tina Ju, is on a mission to make advanced cryptographic techniques like zero-knowledge proof and fully homomorphic encryption mainstream. Their innovative approach aims to address the growing tension between trust and privacy as companies collect vast amounts of consumer data while struggling to protect it.
The team has developed a custom RISC-V-based chip, known as the "verifiable processing unit" (VPU), optimized for running algorithms necessary for zero-knowledge proofs and fully homomorphic encryption. This custom chip is essential as existing hardware is too slow to make these encryption techniques ubiquitous.
With backing from prominent VCs like Blockchain Capital and 1kx, Fabric recently secured a $33 million Series A funding round. The interest from crypto investors underscores the significance of cryptography in today's digital landscape.
While Fabric targets enterprises, the immediate market demand lies within the blockchain space, where zero-knowledge proofs are crucial. Fabric's co-founder, Michael Gao, envisions a future where fully homomorphic encryption becomes as pervasive as AI in the 2010s, driving exponential compute demand.
Enterprises see the value in keeping user data encrypted, minimizing liabilities associated with data breaches. Fabric's solution, leveraging zero-knowledge proofs and fully homomorphic encryption, offers a secure and efficient way to handle sensitive information.
Gao's previous ventures, including photonic AI startup Luminous Computing and Bitcoin mining chip startup Katana (now Fabric Systems), laid the groundwork for Fabric Cryptography. The couple's shared vision for a more impactful use of technology led them to establish Fabric, focusing on hardware solutions that empower cryptographers to realize their ambitions.
Fabric is set to tape out its first chips, with plans to use the recent funding to advance chip development and expand their cryptography teams. The long-term goal is to integrate Fabric's chips into enterprise data centers and potentially partner with hyperscale cloud providers.
In conclusion, Fabric Cryptography's innovative approach to encryption has the potential to reshape how data is handled in the digital age. By prioritizing privacy and trust through cutting-edge hardware solutions, Fabric is paving the way for a more secure and efficient digital ecosystem.