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See detailPrivacy-preserving KYC on Ethereum
Biryukov, Alex UL; Khovratovich, Dmitry; Tikhomirov, Sergei UL

Scientific Conference (2018, May 09)

Identity is a fundamental concept for the financial industry. In order to comply with regulation, financial institutions must verify the identity of their customers. Identities are currently handled in a ... [more ▼]

Identity is a fundamental concept for the financial industry. In order to comply with regulation, financial institutions must verify the identity of their customers. Identities are currently handled in a centralized way, which diminishes users' control over their personal information and threats their privacy. Blockchain systems, especially those with support for smart contracts (e.g.,~Ethereum), are expected to serve as a basis of more decentralized systems for digital identity management. We propose a design of a privacy-preserving KYC scheme on top of Ethereum. It would let providers of financial services leverage the potential of blockchain technology to increase efficiency of customer onboarding while complying with regulation and protecting users' privacy. [less ▲]

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