Which process allows two parties to jointly evaluate a publicly known function without revealing their inputs?

The correct answer is the process known as Secure Multi-Party Computation (MPC). This method enables two or more parties to jointly compute a function over their inputs while keeping those inputs private. The key aspect of MPC is that it allows parties to collaborate and obtain the result of the computation without revealing their individual data to one another.

In this scenario, every party contributes their own data, and through cryptographic techniques, they compute the desired outcome based on a publicly known function, ensuring that no party has access to the other parties’ private inputs throughout the process. This is particularly useful in scenarios where privacy is paramount, such as when two companies want to analyze shared data without exposing sensitive information.

Secure Function Evaluation, while similar in purpose, is more specific and typically refers to a particular implementation of such computations rather than the broader category represented by Secure Multi-Party Computation. Cryptographic Exchange and Joint Data Processing do not accurately encapsulate the idea of two parties computing a function while keeping their inputs secret. Therefore, the comprehensive nature of Secure Multi-Party Computation makes it the correct answer in this context.