🧩 Challenge

Building a bridge between traditional financial systems (Web2) and decentralized blockchain ecosystems (Web3) presents unique challenges. While JackRamp aims to create a seamless and decentralized on-ramp and off-ramp solution, certain design considerations are necessary to maintain privacy, security, and compliance.

Challenges

• Partial Web2 Dependency For the verification of real-world assets, a full Web3 solution isn’t feasible. Revealing the bank name and account information requires the use of Web2 applications, as these details are critical to ensuring accurate backing for jackUSD. This means relying on traditional APIs for some data, balancing decentralization with real-world asset verification.

• Verification Time The verification process is not instant due to the early-stage development of zk technology, which requires time to securely validate transactions and ensure data integrity.

• Preventing Money Laundering To ensure compliance and prevent money laundering, JackRamp plans to implement KYC (Know Your Customer) processes in the future. This will help verify user identities while maintaining the platform’s security and regulatory standards.

Design Considerations

To address these challenges, JackRamp leverages innovative design principles:

• zkVM for Privacy Preservation The use of zkVM technology allows JackRamp to handle sensitive data privately. Bank account information and user details, such as IP addresses, do not need to be stored on-chain, ensuring data privacy. This setup enables verification without exposing sensitive information, providing both security and user anonymity.

• zkTLS for Verified HTTP Requests By integrating zkTLS, JackRamp can create secure HTTP requests that are cryptographically verified. This allows the protocol to authenticate the bank’s response, ensuring that the data received is legitimate and trustworthy. zkTLS provides a decentralized solution that aligns with JackRamp’s transparency goals.