Designing a framework for digital KYC processes built on blockchain-based self-sovereign identity

Reference : Designing a framework for digital KYC processes built on blockchain-based self-sovere...


	Document type :	Scientific journals : Article
	Discipline(s) :	Engineering, computing & technology : Computer science Business & economic sciences : Management information systems
	Focus Areas :	Security, Reliability and Trust
	To cite this reference:	http://hdl.handle.net/10993/53718

Title :	Designing a framework for digital KYC processes built on blockchain-based self-sovereign identity
Language :	English
Author, co-author :	Schlatt, Vincent [> >]
	Sedlmeir, Johannes [University of Luxembourg > >]
	Feulner, Simon [> >]
	Urbach, Nils [> >]
Publication date :	Nov-2022
Journal title :	Information and Management
Publisher :	Elsevier
Volume :	59
Issue/season :	7
Special issue title :	Blockchain innovations: Business opportunities and management challenges
Peer reviewed :	Yes
Audience :	International
ISSN :	0378-7206
e-ISSN :	1872-7530
City :	Amsterdam
Country :	Netherlands
Keywords :	[en] Banking ; Digital certificate ; Digital wallet ; Decentralized identity ; Distributed ledger technology ; Verifiable credential
Abstract :	[en] Know your customer (KYC) processes place a great burden on banks, because they are costly, inefficient, and inconvenient for customers. While blockchain technology is often mentioned as a potential solution, it is not clear how to use the technology’s advantages without violating data protection regulations and customer privacy. We demonstrate how blockchain-based self-sovereign identity (SSI) can solve the challenges of KYC. We follow a rigorous design science research approach to create a framework that utilizes SSI in the KYC process, deriving nascent design principles that theorize on blockchain’s role for SSI.
Permalink :	http://hdl.handle.net/10993/53718
DOI :	10.1016/j.im.2021.103553

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Limited access	1-s2.0-S0378720621001270-main.pdf		Publisher postprint	1.39 MB	Request a copy
Open access	2112.01237.pdf		Author preprint	1.77 MB	View/Open

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