A privacy-preserving verification methodology for SoC computing systems is described. The verification methodology utilizes the principles of Multi-Party Computation (“MPC”), and enables meaningful manipulation of encrypted data in the encrypted domain through the use of a fully homomorphic encryption (“FHE”) scheme. In the described verification methodology, IP logic is transformed and test vectors utilized to verify the IP logic are encrypted. The parties involved in the verification (e.g., the designer, the manufacturer, a third-party verification service, etc.) can functionally verify the IP core via the encrypted test vectors while the encrypted test vectors remain in the encrypted domain. Accordingly, the IP core is verified without revealing unwarranted information, such as the underlying IP behind the SoC.