Journal articles on the topic 'Anonymity of transactions in blockchain'
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1
AlTawy, Riham, and Guang Gong. "Mesh: A Supply Chain Solution with Locally Private Blockchain Transactions." Proceedings on Privacy Enhancing Technologies 2019, no. 3 (July 1, 2019): 149–69. http://dx.doi.org/10.2478/popets-2019-0041.
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Abstract A major line of research on blockchains is geared towards enhancing the privacy of transactions through anonymity using generic non-interactive proofs. However, there is a good cluster of application scenarios where complete anonymity is not desirable and accountability is in fact required. In this work, we utilize non-interactive proofs of knowledge of elliptic curve discrete logarithms to present membership and verifiable encryption proof, which offers plausible anonymity when combined with the regular signing process of the blockchain transactions. The proof system requires no trusted setup, both its communication and computation complexities are linear in the number of set members, and its security relies on the discrete logarithm assumption. As a use-case for this scenario, we present Mesh which is a blockchain-based framework for supply chain management using RFIDs. Finally, the confidentiality of the transacted information is realized using a lightweight key chaining mechanism implemented on RFIDs. We formally define and prove the main security features of the protocol, and report on experiments for evaluating the performance of the modified transactions for this system.
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Al-Qerem, Ahmad. "Using raft as consensus algorithm for blockchain application of roaming services for mobile network." International Journal Artificial Intelligent and Informatics 3, no. 1 (April 1, 2022): 42–52. http://dx.doi.org/10.33292/ijarlit.v3i1.46.
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In the past few years blockchain became the new trending technology, it is expected to spread as internet in the 80s, Blockchain technology, using a consensus algorithm, is a cryptographic record that cannot be changed by repetitive sequence hashing and failure tolerance. Decentralization, persistency, anonymity, and audibility is the key characteristics of the blockchain. These characteristics encourage many industries to be interested in blockchain adoption in their IT systems. The consensus is one of the critical problems in the blockchain; these consensus algorithms play a critical role in maintaining the safety and efficiency of the blockchain. Unless transactions are pending, the Raft Consensus will not mint blocks. The raft can lead to significant storage savings, particularly if the transaction load is low because zero transactions are not minted in empty blocks. The performance of a blockchain that implements raft as a consensus algorithm has been evaluated through the simulation of roaming services for mobile network operators (MNOs) application. Performance evaluation to determine how quickly the network accepts blockchain transactions are reported. The result indicated that the proposed mechanism increase the throughput of transaction significantly.
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David, Shibin, Jaspher W. Kathrine, K. Martin Sagayam, and Krit Salahddine. "Augmenting integrity and scalability in mobile payment applications using blockchain." E3S Web of Conferences 297 (2021): 01063. http://dx.doi.org/10.1051/e3sconf/202129701063.
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The transactional information from the mobile wallets is offloaded from the mobile device to the mobile transaction server. The transaction involves various communication standards, confidential transaction information to ensure flawless transaction of data. There exist several encryption techniques to preserve confidentiality, hashing schemes to prove the integrity, signature schemes to prove the identity in the mobile transaction using mobile wallet applications. Even though mobile wallet possesses secure algorithms, the transactions are facing security issues such as double spending, lack of dispute redressal issue, lack of forward secrecy, lack of anonymity in the transaction and security. Therefore, Blockchain based Mobile transaction Scheme is proposed to solve the security issues including integrity, double spending and improve scalability. This paper presents a strategy which implements blockchain framework by using irreversible keys for mobile wallet applications. The proposed scheme proves to be secure against the security attacks and enhances integrity and scalability compared to the existing schemes.
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Recabarren, Ruben, and Bogdan Carbunar. "Toward Uncensorable, Anonymous and Private Access Over Satoshi Blockchains." Proceedings on Privacy Enhancing Technologies 2022, no. 1 (November 20, 2021): 207–26. http://dx.doi.org/10.2478/popets-2022-0011.
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Abstract Providing unrestricted access to sensitive content such as news and software is difficult in the presence of adaptive and resourceful surveillance and censoring adversaries. In this paper we leverage the distributed and resilient nature of commercial Satoshi blockchains to develop the first provably secure, censorship resistant, cost-efficient storage system with anonymous and private access, built on top of commercial cryptocurrency transactions. We introduce max-rate transactions, a practical construct to persist data of arbitrary size entirely in a Satoshi blockchain. We leverage max-rate transactions to develop UWeb, a blockchain-based storage system that charges publishers to self-sustain its decentralized infrastructure. UWeb organizes blockchain-stored content for easy retrieval, and enables clients to store and access content with provable anonymity, privacy and censorship resistance properties. We present results from UWeb experiments with writing 268.21 MB of data into the live Litecoin blockchain, including 4.5 months of live-feed BBC articles, and 41 censorship resistant tools. The max-rate writing throughput (183 KB/s) and blockchain utilization (88%) exceed those of state-of-the-art solutions by 2-3 orders of magnitude and broke Litecoin’s record of the daily average block size. Our simulations with up to 3,000 concurrent UWeb writers confirm that UWeb does not impact the confirmation delays of financial transactions.
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Huang, Shanyun, Wenyin Zhang, Xiaomei Yu, Jiuru Wang, Wanshui Song, and Bei Li. "Covert Communication Scheme Based on Bitcoin Transaction Mechanism." Security and Communication Networks 2021 (December 10, 2021): 1–17. http://dx.doi.org/10.1155/2021/3025774.
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Due to the unique characteristics of blockchain, such as decentralization, anonymity, high credibility, and nontampering, blockchain technologies have become an integral part of public data platforms and public infrastructure. The communication between the stakeholders of a given blockchain can be used as a carrier for covert communication under cover of legal transactions, which has become a promising research direction of blockchain technology. Due to the special mechanism of blockchain, some traditional blockchain covert communication schemes are not mature enough. They suffer from various drawbacks, such as weak concealment of secret information, cumbersome identification and screening of special transactions, poor availability, and low comprehensive performance. Therefore, this paper designs a scheme of covert communication in the Bitcoin blockchain, which takes normal transactions as a mask and leverages the Bitcoin transaction mechanism to embed secret information in the public key hash field. Specifically, we propose a novel key update mechanism combined with the hash algorithm to construct a covert channel. It ensures security and can update the channel to prevent the related problems caused by address reuse. We are taking advantage of the feature of Bitcoin that cannot be double-spent to solve the problem of burning bitcoin when paying bitcoin to a fake public key hash. In our scheme, both parties to the communication are anonymous, and the attacker cannot detect the covert data or track the transaction and address. Our proposed scheme was tested in real Bitcoin blockchain network, and the experimental results were analyzed to verify its security, availability, and efficiency.
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An, Qi, Yanhui Zhang, Chong Guo, Ximing Liu, Junjia Huang, Wenzhan Zhang, Shijun Zhang, Chao Zhan, and Yuxiang Cai. "Anonymous Traceability Protocol Based on Group Signature for Blockchain." Security and Communication Networks 2022 (March 23, 2022): 1–10. http://dx.doi.org/10.1155/2022/4559119.
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In blockchain technology, data are stored on decentralized nodes and public to each node in the blockchain network. Hence, the focus of privacy protection in the blockchain guarantees the anonymity of transactions such that attackers cannot attain the users’ personal information through data analysis. Among the existing privacy protection technologies, the scheme based on group signature has good anonymity, but the existing scheme exists a large number of operations that are difficult to apply to wireless terminals. In this paper, using the powerful offloading capability of edge computing, we propose a blockchain node traceable identity privacy technology scheme based on threshold group signature, and the scheme greatly reduces the computing burden of nodes while achieving node privacy protection.
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Muftic, Sead. "BIX Certificates: Cryptographic Tokens for Anonymous Transactions Based on Certificates Public Ledger." Ledger 1 (December 21, 2016): 19–37. http://dx.doi.org/10.5195/ledger.2016.27.
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With the widespread use of Internet, Web, and mobile technologies, a new category of applications and transactions that requires anonymity is gaining increased interest and importance. Examples of such new applications are innovative payment systems, digital notaries, electronic voting, documents sharing, electronic auctions, medical applications, and many others. In addition to anonymity, these applications and transactions also require standard security services: identification, authentication, and authorization of users and protection of their transactions. Providing those services in combination with anonymity is an especially challenging issue, because all security services require explicit user identification and authentication. To solve this issue and enable applications with security and also anonymity we introduce a new type of cryptographically encapsulated objects called BIX certificates. “BIX” is an abbreviation for “Blockchain Information Exchange.” Their purpose is equivalent to X.509 certificates: to support security services for users and transactions, but also enhanced with anonymity. This paper describes the structure and attributes of BIX certificate objects and all related protocols for their creation, distribution, and use. The BIX Certification Infrastructure (BCI) as a distributed public ledger is also briefly described.
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Son, Ye-Byoul, Jong-Hyuk Im, Hee-Yong Kwon, Seong-Yun Jeon, and Mun-Kyu Lee. "Privacy-Preserving Peer-to-Peer Energy Trading in Blockchain-Enabled Smart Grids Using Functional Encryption." Energies 13, no. 6 (March 12, 2020): 1321. http://dx.doi.org/10.3390/en13061321.
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Advanced smart grid technologies enable energy prosumers to trade surplus energy from their distributed renewable energy sources with other peer prosumers through peer-to-peer (P2P) energy trading. In many previous works, P2P energy trading was facilitated by blockchain technology through blockchain’s distributive nature and capacity to run smart contracts. However, the feature that all the data and transactions on a blockchain are visible to all blockchain nodes may significantly threaten the privacy of the parties participating in P2P energy trading. There are many previous works that have attempted to mitigate this problem. However, all these works focused on the anonymity of participants but did not protect the data and transactions. To address this issue, we propose a P2P energy trading system on a blockchain where all bids are encrypted and peer matching is performed on the encrypted bids by a functional encryption-based smart contract. The system guarantees that the information encoded in the encrypted bids is protected, but the peer matching transactions are performed by the nodes in a publicly verifiable manner through smart contracts. We verify the feasibility of the proposed system by implementing a prototype composed of smart meters, a distribution system operator (DSO) server, and private Ethereum blockchain.
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Dubina, V. V., and R. V. Oliynykov. "Methods and means of deanonymization of transactions in blockchain." Radiotekhnika, no. 207 (December 24, 2021): 52–58. http://dx.doi.org/10.30837/rt.2021.4.207.04.
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This paper presents the results of a study of the properties of transactions formation and processing of in blockchain systems, aimed to identify existing barriers to the secure functioning of the network, processing and transmission of data between users, and to determine possible means of deanonymizing transactions. The anonymity of the network is one of the reasons for cryptocurrencies popularity and widespread use of blockchain technology. However, its presence is the basis for unscrupulous transactions, criminal actions of fraudsters and attacks on the system. Therefore, one of the main issues today is to ensure the reliable storage of information and the ability to track suspicious activity and timely protection of users in blockchain systems. The article examines known methods of increasing anonymity and maintaining confidentiality in modern networks based on the principles of blockchain technology, the threats arising from their use and the possible ways of tracking the actions of system participants. A comparative description of known tracking tools and possible means of de-anonymization of the history of completed transactions is given. As a result of the study, it was proposed to use a separate platform to analyze the network in real time, identify threats and their timely elimination, with the ability to visualize relationships and build address graphs as a result of tracking the entire chain of transactions. The tool makes it possible to implement a search among cryptocurrency addresses, blocks, transactions and tags, as well as to identify clusters associated with a particular address. The system analyzes the network in real time to gain insight into the statistics. Particular attention is paid to detecting so-called anomalies, i.e., the identification of transactions that deviate from standard structures. This allows identifying and tracking potentially malicious activities at an early stage.
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Nyamtiga, Sicato, Rathore, Sung, and Park. "Blockchain-Based Secure Storage Management with Edge Computing for IoT." Electronics 8, no. 8 (July 25, 2019): 828. http://dx.doi.org/10.3390/electronics8080828.
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As a core technology to manage decentralized systems, blockchain is gaining much popularity to deploy such applications as smart grid and healthcare systems. However, its utilization in resource-constrained mobile devices is limited due to high demands of resources and poor scalability with frequent-intensive transactions. Edge computing can be integrated to facilitate mobile devices in offloading their mining tasks to cloud resources. This integration ensures reliable access, distributed computation and untampered storage for scalable and secure transactions. It is imperative therefore that crucial issues of security, scalability and resources management be addressed to achieve successful integration. Studies have been conducted to explore suitable architectural requirements, and some researchers have applied the integration to deploy some specific applications. Despite these efforts, however, issues of anonymity, adaptability and integrity still need to be investigated further to attain a practical, secure decentralized data storage. We based our study on peer-to-peer and blockchain to achieve an Internet of Things (IoT) design supported by edge computing to acquire security and scalability levels needed for the integration. We investigated existing blockchain and associated technologies to discover solutions that address anonymity, integrity and adaptability issues for successful integration of blockchain in IoT systems. The discovered solutions were then incorporated in our conceptual design of the decentralized application prototype presented for secure storage of IoT data and transactions.
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Goldfeder, Steven, Harry Kalodner, Dillon Reisman, and Arvind Narayanan. "When the cookie meets the blockchain: Privacy risks of web payments via cryptocurrencies." Proceedings on Privacy Enhancing Technologies 2018, no. 4 (October 1, 2018): 179–99. http://dx.doi.org/10.1515/popets-2018-0038.
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Abstract We show how third-party web trackers can deanonymize users of cryptocurrencies. We present two distinct but complementary attacks. On most shopping websites, third party trackers receive information about user purchases for purposes of advertising and analytics. We show that, if the user pays using a cryptocurrency, trackers typically possess enough information about the purchase to uniquely identify the transaction on the blockchain, link it to the user’s cookie, and further to the user’s real identity. Our second attack shows that if the tracker is able to link two purchases of the same user to the blockchain in this manner, it can identify the user’s cluster of addresses and transactions on the blockchain, even if the user employs blockchain anonymity techniques such as CoinJoin. The attacks are passive and hence can be retroactively applied to past purchases. We discuss several mitigations, but none are perfect.
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Wang, Qin, Shiping Chen, and Yang Xiang. "Anonymous Blockchain-based System for Consortium." ACM Transactions on Management Information Systems 12, no. 3 (May 31, 2021): 1–25. http://dx.doi.org/10.1145/3459087.
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Blockchain records transactions with various protection techniques against tampering. To meet the requirements on cooperation and anonymity of companies and organizations, researchers have developed a few solutions. Ring signature-based schemes allow multiple participants cooperatively to manage while preserving their individuals’ privacy. However, the solutions cannot work properly due to the increased computing complexity along with the expanded group size. In this article, we propose a Multi-center Anonymous Blockchain-based (MAB) system, with joint management for the consortium and privacy protection for the participants. To achieve that, we formalize the syntax used by the MAB system and present a general construction based on a modular design. By applying cryptographic primitives to each module, we instantiate our scheme with anonymity and decentralization. Furthermore, we carry out a comprehensive formal analysis of our exemplified scheme. A proof of concept simulation is provided to show the feasibility. The results demonstrate security and efficiency from both theoretical perspectives and practical perspectives.
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Daghmehchi Firoozjaei, Mahdi, Ali Ghorbani, Hyoungshick Kim, and JaeSeung Song. "Hy-Bridge: A Hybrid Blockchain for Privacy-Preserving and Trustful Energy Transactions in Internet-of-Things Platforms." Sensors 20, no. 3 (February 10, 2020): 928. http://dx.doi.org/10.3390/s20030928.
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In the current centralized IoT ecosystems, all financial transactions are routed through IoT platform providers. The security and privacy issues are inevitable with an untrusted or compromised IoT platform provider. To address these issues, we propose Hy-Bridge, a hybrid blockchain-based billing and charging framework. In Hy-Bridge, the IoT platform provider plays no proxy role, and IoT users can securely and efficiently share a credit with other users. The trustful end-to-end functionality of blockchain helps us to provide accountability and reliability features in IoT transactions. Furthermore, with the blockchain-distributed consensus, we provide a credit-sharing feature for IoT users in the energy and utility market. To provide this feature, we introduce a local block framework for service management in the credit-sharing group. To preserve the IoT users’ privacy and avoid any information leakage to the main blockchain, an interconnection position, called bridge, is introduced to isolate IoT users’ peer-to-peer transactions and link the main blockchain to its subnetwork blockchain(s) in a hybrid model. To this end, a k-anonymity protection is performed on the bridge. To evaluate the performance of the introduced hybrid blockchain-based billing and charging, we simulated the energy use case scenario using Hy-Bridge. Our simulation results show that Hy-Bridge could protect user privacy with an acceptable level of information loss and CPU and memory usage.
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Junejo, Aisha Zahid, Manzoor Ahmed Hashmani, and Mehak Maqbool Memon. "Empirical Evaluation of Privacy Efficiency in Blockchain Networks: Review and Open Challenges." Applied Sciences 11, no. 15 (July 29, 2021): 7013. http://dx.doi.org/10.3390/app11157013.
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With the widespread of blockchain technology, preserving the anonymity and confidentiality of transactions have become crucial. An enormous portion of blockchain research is dedicated to the design and development of privacy protocols but not much has been achieved for proper assessment of these solutions. To mitigate the gap, we have first comprehensively classified the existing solutions based on blockchain fundamental building blocks (i.e., smart contracts, cryptography, and hashing). Next, we investigated the evaluation criteria used for validating these techniques. The findings depict that the majority of privacy solutions are validated based on computing resources i.e., memory, time, storage, throughput, etc., only, which is not sufficient. Hence, we have additionally identified and presented various other factors that strengthen or weaken blockchain privacy. Based on those factors, we have formulated an evaluation framework to analyze the efficiency of blockchain privacy solutions. Further, we have introduced a concept of privacy precision that is a quantifiable measure to empirically assess privacy efficiency in blockchains. The calculation of privacy precision will be based on the effectiveness and strength of various privacy protecting attributes of a solution and the associated risks. Finally, we conclude the paper with some open research challenges and future directions. Our study can serve as a benchmark for empirical assessment of blockchain privacy.
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Sulaiman Alromaih, Malak, and Mohammed Mahdi Hassan. "COVAC: A Blockchain-based COVID Testing and Vaccination Tracking System." International Journal of Science, Technology & Management 3, no. 3 (May 18, 2022): 703–14. http://dx.doi.org/10.46729/ijstm.v3i3.496.
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Blockchain is an emerging technology based on a distributed digital ledger system. Decentralized trust is one of the key factors behind the blockchain-based system. The transparency of such a system is better than a conventional centralized ledger system. By using a blockchain-based transaction system, any business organization can harness key benefits like data integrity, confidentiality, and anonymity without involving any third party in control of the transactions. Since the blockchain is used in numerous applications, the horizon is expanding at an unprecedented pace. It was found that tracking COVID vaccination in a transparent and accountable way is an emerging need, especially after the pandemic outbreak around the world. The blockchain platform is a good match for such applications. In this study, a blockchain-based COVID-19 testing and vaccination tracking system, called COVAC, has been designed to manage the COVID testing and vaccination process for local organizations. The “Prototype Software Development" approach was used to determine the system requirements according to the practical knowledge obtained through the vaccine monitoring and screening tests process and then communicated with local healthcare facilities to determine whether these requirements were satisfied. The blockchain-based implementation ensured the system transparency, integrity, and security of data on COVID-19 testing and vaccination
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Bhatelia, Jeet, Sagar Pandita, Abhishek Ajmera, Narendra Shekokar, and Neha Katre. "Supply Chain of Relief Materials using Blockchain." ITM Web of Conferences 32 (2020): 03036. http://dx.doi.org/10.1051/itmconf/20203203036.
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Blockchain serves as an immutable ledger which allows transactions to take place in a decentralized manner. The proposed solution incorporates the use of Blockchain for Supply Chain Management of Relief Materials after a Disaster. The proposed solution also provides many additional features when compared to the current system like being tamper-proof, providing anonymity and accountability to the users. Our solution incorporates a box-in-box approach whilst keeping tabs via tamper-proof barcodes. Barcodes will be frequently scanned at designated locations. Users also have the facility to track the donated items online through a dedicated website. For blockchain infrastructure, we have used Hyperledger Fabric.
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Reynolds, Perri, and Angela S. M. Irwin. "Tracking digital footprints: anonymity within the bitcoin system." Journal of Money Laundering Control 20, no. 2 (May 2, 2017): 172–89. http://dx.doi.org/10.1108/jmlc-07-2016-0027.
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Purpose The purpose of this paper is to critically analyse research surrounding the anonymity of online transactions using Bitcoin and report on the feasibility of law enforcement bodies tracing illicit transactions back to a user’s real-life identity. Design/methodology/approach The design of this paper follows on from the approach taken by Reid and Harrigan (2013) in determining whether identifying information may be collated with external sources of data to identify individual users. In addition to conducting a detailed literature review surrounding the anonymity of users, and the potential ability to track transactions through the blockchain, four Bitcoin exchange services are examined to ascertain whether information provided at the sign-up stage is sufficiently verified and reliable. By doing so, this research tests the ability for law enforcement to reasonably rely upon this information when attempting to prosecute individuals. Additionally, by submitting fake information for verification, the plausibility of these services accepting fraudulent or illegitimate information is also tested. Findings It may be possible to identify and prosecute bad actors through the analysis of transaction histories by tracing them back to an interaction with a Bitcoin exchange. However, the compliance and implementation of anti-money laundering legislation and customer identification security standards are insufficiently used within some exchange services, resulting in more technologically adept, or well-funded, criminals being able to circumvent identification controls and continue to transact without revealing their identities. The introduction of and compliance with know-your customer and customer due diligence legislation is required before law enforcement bodies may be able to accurately rely on information provided to a Bitcoin exchange. This paper highlights the need for research to be undertaken to examine the ways in which criminals are circumventing identity controls and, consequently, financing their illicit activities. Originality/value By ascertaining the types of information submitted by users when exchanging real currency for virtual currency, and seeing whether this information may be accepted despite being fraudulent in nature, this paper elucidates the reliability of information that law enforcement bodies may be able to access when tracing transactions back to an individual actor.
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Kadhim, Amal Abbas, and Azal Minshed Abid. "A Survey of Blockchain From the Perspectives of Architecture and Applications." International Journal of Engineering Research and Advanced Technology 08, no. 03 (2022): 07–15. http://dx.doi.org/10.31695/ijerat.2022.8.3.2.
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The increasing need for organizations to keep a high level of synchronization around the world and the coming of new advancements are pushing increasingly more to move decision-making and operational power from the focus of associations to their edges. The blockchain could be the critical innovation to roll out this improvement conceivable. A blockchain is essentially a distributed database of records or public ledger of all transactions or digital events that have been executed and shared among participating parties. Blockchain is pleased with the fact that it provides high satisfaction and a trust bond to its users. Data immutability, decentralization, anonymity, auditability, and transparency are the main features that make blockchain an attractive technology. This paper presents a study of blockchain technology to provide a comprehensive analysis that includes types, architecture, components, characteristics, and applications of blockchain.
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Qin, Yanlin, Xueguang Zhou, and Guoheng Wei. "A Crowdsourcing Information Obtaining Scheme Aiming at Senior Netizens Based on Blockchain." Journal of Sensors 2022 (February 8, 2022): 1–12. http://dx.doi.org/10.1155/2022/6182502.
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Senior netizens play a unique role in crowdsourcing information obtaining, but the traditional crowdsourcing information obtaining scheme based on intermediary platform cannot satisfy the senior netizens’ strong reliability on anonymity. Malicious intermediary platform may leak out the privacy information of both parties. Data stored in intermediary platform may be intercepted, tampered, and fraudulently used by attackers, so smooth crowdsourcing information transactions cannot be ensured. In order to achieve secure and reliable crowdsourcing information obtaining, blockchain technology with decentralization and nontampering was used to propose a crowdsourcing information obtaining scheme, which is independent on intermediary platform. During processes of requirements releasing, information submitting, and rewarding, privacy protection techniques were used to preserve the anonymity of participants and confidentiality of data. Compared with the existing protocols, the proposed scheme has obvious advantages in privacy protection.
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Tribis, Youness, Abdelali El Bouchti, and Houssine Bouayad. "Blockchain Technology-based Supply Chain: State-of-the-art and Future Prospects." International Journal of Innovative Technology and Exploring Engineering 10, no. 2 (January 10, 2021): 125–36. http://dx.doi.org/10.35940/ijitee.c8384.0110321.
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Initially developed for Bitcoin cryptocurrency, Blockchain Technology (BCT) is a decentralized transaction managing technology that provides security, anonymity and data integrity in transactions without the need of any trusted third party. The interest in BCT has been grown, as research topic for many fields, such as finance, health, government, agriculture and many particular Supply Chain (SC) industries. However, there is a lack of systematic literature reviews (SLR) on existing research concerning how BCT is well relevant in SC. This paper conducts a systematic review in order to examine all pertinent research on SC based on BCT. The main inspiration for this work was to synthesize existing evidence, classify research tendencies available in the literature, and identify open themes and gaps for development in this discipline. However, 45 primary papers have been extracted from scientific databases. This systematic review provides direction for future research regarding the applications of BCT for SC
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Kim, Semin, Hyung-Jin Mun, and Sunghyuck Hong. "Multi-Factor Authentication with Randomly Selected Authentication Methods with DID on a Random Terminal." Applied Sciences 12, no. 5 (February 22, 2022): 2301. http://dx.doi.org/10.3390/app12052301.
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Background: Information and communication technology development provides services to various fields. In particular, the development of mobile technology has made ubiquitous services possible. However, as technology advances, security is being emphasized more and more. The existing method of user authentication by entering an ID and password is likely to leak sensitive information if the server is attacked or keylogged. Therefore, multi-level authentication is needed to prevent server attacks or keylogging. Methods: Biometric authentication technology has been utilized by smartphones, but it is challenging to apply in the case of a lost device because the central server does not manage biometric data. Encrypting transactions through blockchain technology makes data management more secure because blockchain technology is distributed, and there is no primary target for hackers. Results: The method proposed in this study can become a basis for an authentication method that guarantees both security and integrity due to the synergetic use of biometric and blockchain technologies. Conclusions: The information stored in the service provider does not include sensitive information such as the user’s biometric data but is only a means of verifying the user’s information in the blockchain transaction with guaranteed anonymity. Therefore, users can receive services with confidence and safety.
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Kuo, Chu-Chi, and Joseph Z. Shyu. "A Cross-National Comparative Policy Analysis of the Blockchain Technology between the USA and China." Sustainability 13, no. 12 (June 18, 2021): 6893. http://dx.doi.org/10.3390/su13126893.
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Blockchain technology can achieve decentralization, multi-party verification, anti-tampering, anonymity, traceability of transactions and distributed ledger applications. Countries around the world continue to seek blockchain business models, technologies and applications and have different visions and policies for the development of blockchain. This study provides a comparative policy framework for the theoretical analysis of blockchain technology between the USA and China. Using the innovative policy tools proposed by Rothwell and Zegveld, these two countries are analyzed from the viewpoint of twelve policy tools. The results show that the USA and China both prefer to use “Environmental-side” policies. The USA has focused more on “Legal and regulatory”, “Public services” and “Procurement”. China has the highest proportion of policies in “Political tools”, followed by “Legal and regulatory”, while “Scientific and technical”, “Education” and “Overseas agent” come in third. Blockchain technology has developed vigorously among industries and its applications have gradually diversified. The results can provide a reference for policy planning for various stakeholders.
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Kuleto, Valentin, Rocsana Bucea-Manea-Țoniş, Radu Bucea-Manea-Țoniş, Milena P. Ilić, Oliva M. D. Martins, Marko Ranković, and Ana Sofia Coelho. "The Potential of Blockchain Technology in Higher Education as Perceived by Students in Serbia, Romania, and Portugal." Sustainability 14, no. 2 (January 11, 2022): 749. http://dx.doi.org/10.3390/su14020749.
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Lifelong learning approaches that include digital, transversal, and practical skills (i.e., critical thinking, communication, collaboration, information literacy, analytical, metacognitive, reflection, and other research skills) are required in order to be equitable and inclusive and stimulate personal development. Realtime interaction between teachers and students and the ability for students to choose courses from curricula are guaranteed by decentralized online learning. Moreover, through blockchain, it is possible to acquire skills regarding the structure and content while also implementing learning tools. Additionally, documentation validation should be equally crucial to speeding up the process and reducing costs and paperwork. Finally, blockchains are open and inclusive processes that include people and cultures from all walks of life. Learning in Higher Education Institutions (HEI) is facilitated by new technologies, connecting blockchain to sustainability, which helps understand the relationship between technologies and sustainability. Besides serving as a secure transaction system, blockchain technology can help decentralize, provide security and integrity, and offer anonymity and encryption, therefore, promoting a transaction rate increase. This study investigates an alternative in which HEI include a blockchain network to provide the best sustainable education system. Students’ opinions were analyzed, and they considered that blockchain technology had a very positive influence on learning performance.
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Yavari, Mostafa, Masoumeh Safkhani, Saru Kumari, Sachin Kumar, and Chien-Ming Chen. "An Improved Blockchain-Based Authentication Protocol for IoT Network Management." Security and Communication Networks 2020 (October 26, 2020): 1–16. http://dx.doi.org/10.1155/2020/8836214.
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Communication security between IoT devices is a major concern in this area, and the blockchain has raised hopes that this concern will be addressed. In the blockchain concept, the majority or even all network nodes check the validity and accuracy of exchanged data before accepting and recording them, whether this data is related to financial transactions or measurements of a sensor or an authentication message. In evaluating the validity of an exchanged data, nodes must reach a consensus in order to perform a special action, in which case the opportunity to enter and record transactions and unreliable interactions with the system is significantly reduced. Recently, in order to share and access management of IoT devices information with distributed attitude a new authentication protocol based on blockchain is proposed and it is claimed that this protocol satisfies user privacy preserving and security. However, in this paper, we show that this protocol has security vulnerabilities against secret disclosure, replay, traceability, and Token reuse attacks with the success probability of 1 and constant complexity of also 1. We also proposed an improved blockchain-based authentication protocol (IBCbAP) that has security properties such as secure access management and anonymity. We implemented IBCbAP using JavaScript programming language and Ethereum local blockchain. We also proved IBCbAP’s security both informally and formally through the Scyther tool. Our comparisons showed that IBCbAP could provide suitable security along with reasonable cost.
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Barański, Stanisław, Julian Szymański, Andrzej Sobecki, David Gil, and Higinio Mora. "Practical I-Voting on Stellar Blockchain." Applied Sciences 10, no. 21 (October 28, 2020): 7606. http://dx.doi.org/10.3390/app10217606.
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In this paper, we propose a privacy-preserving i-voting system based on the public Stellar Blockchain network. We argue that the proposed system satisfies all requirements stated for a robust i-voting system including transparency, verifiability, and voter anonymity. The practical architecture of the system abstracts a voter from blockchain technology used underneath. To keep user privacy, we propose a privacy-first protocol that protects voter anonymity. Additionally, high throughput and low transaction fees allow handling large scale voting at low costs. As a result we built an open-source, cheap, and secure system for i-voting that uses public blockchain, where everyone can participate and verify the election process without the need to trust a central authority. The main contribution to the field is a method based on a blind signature used to construct reliable voting protocol. The proposed method fulfills all requirements defined for i-voting systems, which is challenging to achieve altogether.
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Носов, В. В., and І. А. Манжай. "Certain Aspects of the Analysis of Cryptocurrency Transactions during the Prevention and Investigation of Crimes." Law and Safety 80, no. 1 (March 19, 2021): 93–100. http://dx.doi.org/10.32631/pb.2021.1.13.
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The analysis of separate tools for the visualization of movement of cryptocurrency values, and also identification of users who carried out the corresponding transactions has been carried out. The advantages and disadvantages of cryptocurrency from the point of view of offenders and law enforcement agencies have been studied. The main directions of using cryptocurrency in a criminal environment have been determined. The current state and perspectives of normative and legal regulation of cryptocurrency in Ukraine have been analyzed. Theoretical principles of cryptocurrency functioning have been studied. The basic concepts used in this area have been revealed. The properties of cryptocurrency have been described. The mechanism of its issuance of guaranteeing pseudo-anonymity while working with cryptocurrency has been outlined. Some features of blockchain technology and formation of cryptocurrency addresses have been revealed. It has been noted that one of the first and most well-known cryptocurrency is bitcoin. The format of bitcoin address presentation has been described. It has been emphasized that bitcoin wallet software can operate with any number of addresses or each address can be served by a separate wallet. The technology of mixing transactions and the method of increasing the anonymity of CoinJoin have been described. The authors have revealed the possibilities of separate services intended for the analysis of cryptocurrency transactions (Maltego, Bitconeview, Bitiodine, OpReturnTool, Blockchain.info, Anyblockanalytics.com, Chainalysis, Elliptic, Ciphertrace, Blockchain Inspector). The process of risk assessment and construction of visual chains of cryptocurrency transactions has been demonstrated on the example of the “Crystal Expert” service. Different types of bitcoin addresses’ holders and risk levels have been described. The main and additional investigation tools used on the “Crystal Expert” platform have been revealed. Based on the conducted analysis, the authors have defined the main tasks for law enforcement agencies at the current stage of development of cryptocurrency. The basic requirements for tools designed for cryptocurrency analysis have been outlined. The authors have suggested some measures of law enforcement agencies’ respond to threats related to cryptocurrency.
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Pascari, V., L. G. Gagarina, and V. V. Sliusar. "Methods and Software Complex Development for Remote Electronic Voting Based on Ethereum Blockchain Platform." Proceedings of Universities. Electronics 26, no. 6 (December 2021): 565–79. http://dx.doi.org/10.24151/1561-5405-2021-26-6-565-579.
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The most promising way to increase voters’ confidence in the remote electronic voting (REV) procedure is a voting method based on Ethereum blockchain platform. However, the existing solutions using this method faced a range of problems: ensuring the secrecy of the vote and openness of the procedure for society, pressure on the voter and a guarantee of the reliability of the whole system. In this work, a method for constructing a REV is proposed that solves these problems. It is similar in structure to the traditional voting method, using the same principle and processes. The Ethereum blockchain based REV process is described in detail. It was shown that received votes are securely stored in the Ethereum blockchain network, and the correctness of the vote addressing to the selected candidate can always be checked in real time. The description of smart contract algorithm that implements the transfer of vote from voter to candidate using transactions and determines the winner who received the highest number of votes was provided. It was demonstrated that keccak256 hashing algorithm and secp256k1 elliptic curve signatures ensure transactions’ maximum protection, reliability, and non-rollability. The developed REV technique based on Ethereum blockchain platform increases the efficiency of data security and confidentiality, transparency and anonymity of the voting procedure, and solves the problem of coercion. The results of the work have been implemented programmatically and can be used not only in the electoral system, but also wherever there is need of remote voting.
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Afzal, Ayesha. "Cryptocurrencies, Blockchain and Regulation: A Review." LAHORE JOURNAL OF ECONOMICS 24, no. 1 (January 1, 2019): 103–30. http://dx.doi.org/10.35536/lje.2019.v24.i1.a5.
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The evolution of money has accompanied the development of civilizations and technological innovations, leading to today’s cryptocurrencies. Cryptocurrencies have become a popular mode of payment globally because of their low cost, high-speed transferability and a decentralized tracking network that provides secure transactions and a high degree of anonymity. However, the decentralized system of cryptocurrencies has made global monetary systems more dynamic and therefore more prone to misuse as well as posing a threat to financial stability. Cryptocurrencies are also gaining popularity in Pakistan: its first cryptocurrency, named ‘Pakcoin’, was launched in 2015. The State Bank of Pakistan does not recognize any digital currency, and the Federal Board of Revenue and Federal Investigation Agency have taken legal action against local and internationally traded cryptocurrencies. This article reviews these risks and provides various regulatory solutions so that methods can be developed to improve the management of financial innovations and create a safer environment in which financial innovation can continue. Furthermore, developing countries such as Pakistan can take advantage of distributed ledger technology (used in cryptocurrencies) in applications including: microfinance to help the unbanked, in data identification systems and in land registries to help enforce property rights.
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Qiu, Ying, Yi Liu, Xuan Li, and Jiahui Chen. "A Novel Location Privacy-Preserving Approach Based on Blockchain." Sensors 20, no. 12 (June 21, 2020): 3519. http://dx.doi.org/10.3390/s20123519.
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Location-based services (LBS) bring convenience to people’s lives but are also accompanied with privacy leakages. To protect the privacy of LBS users, many location privacy protection algorithms were proposed. However, these algorithms often have difficulty to maintain a balance between service quality and user privacy. In this paper, we first overview the shortcomings of the existing two privacy protection architectures and privacy protection technologies, then we propose a location privacy protection method based on blockchain. Our method satisfies the principle of k-anonymity privacy protection and does not need the help of trusted third-party anonymizing servers. The combination of multiple private blockchains can disperse the user’s transaction records, which can provide users with stronger location privacy protection and will not reduce the quality of service. We also propose a reward mechanism to encourage user participation. Finally, we implement our approach in the Remix blockchain to show the efficiency, which further indicates the potential application prospect for the distributed network environment.
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Pospiech, Piotr, Aleksander Marianski, and Michal Kedziora. "Secure Blockchain Decentralized Voting for Verified Users." International Journal of Network Security & Its Applications 13, no. 5 (September 30, 2021): 17–26. http://dx.doi.org/10.5121/ijnsa.2021.13502.
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The paper focuses onintroducing a decentralized e-voting scheme that uses blockchain to achieve security and anonymity. A blockchain network based on Ethereum was applied, to provide a decentralized and distributed database based on the Peer-to-Peer architecture. During the implementation, smart contractswere used. Thanks to this, it is possible to code the terms of the contract required to perform the transaction. The proof-of-conceptimplementation uses the blind signature protocol and encryption with the RSA algorithm. Presented in this paper scheme for blockchain decentralized voting is fully implemented and potential issues are analyzed and discussed.
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Fell, Michael J., Alexandra Schneiders, and David Shipworth. "Consumer Demand for Blockchain-Enabled Peer-to-Peer Electricity Trading in the United Kingdom: An Online Survey Experiment." Energies 12, no. 20 (October 16, 2019): 3913. http://dx.doi.org/10.3390/en12203913.
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Peer-to-peer (P2P) energy trading could help address grid management challenges in a decentralizing electricity system, as well as provide other social and environmental benefits. Many existing and proposed trading schemes are enabled by blockchain, a distributed ledger technology (DLT) relying on cryptographic proof of ownership rather than human intermediaries to establish energy transactions. This study used an online survey experiment (n = 2064) to investigate how consumer demand for blockchain-enabled peer-to-peer energy trading schemes in the United Kingdom varies depending on how the consumer proposition is designed and communicated. The analysis provides some evidence of a preference for schemes offering to meet a higher proportion of participants’ energy needs and for those operating at the city/region (as compared to national or neighbourhood) level. People were more likely to say they would participate when the scheme was framed as being run by their local council, followed by an energy supplier, community energy organization, and social media company. Anonymity was the most valued DLT characteristic and mentioning blockchain’s association with Bitcoin led to a substantial decrease in intended uptake. We highlight a range of important questions and implications suggested by these findings for the introduction and operation of P2P trading schemes.
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He, Xuezhi, Tan Yang, and Liping Chen. "CTRF: Ethereum-Based Ponzi Contract Identification." Security and Communication Networks 2022 (March 29, 2022): 1–10. http://dx.doi.org/10.1155/2022/1554752.
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In recent years, blockchain technology has been developing rapidly. More and more traditional industries are using blockchain as a platform for information storage and financial transactions, mainly because of its new characteristics of non-tamperability and decentralization compared with the traditional systems. As a representative of blockchain 2.0, Ethereum has gained popularity upon its introduction. However, because of the anonymity of blockchain, Ethereum has also attracted the attention of some unscrupulous people. Currently, millions of contracts are deployed on Ethereum, many of which are fraudulent contracts deployed by unscrupulous people for profit, and these contracts are causing huge losses to investors worldwide. Ponzi contracts are typical of these contracts, which mainly reward the funds invested by later investors to early investors, and later investors will have no gain. However, although there are some studies for identifying Ponzi contracts on Ethereum, there is some room for progress in the research. Therefore, we propose a method to detect Ponzi scheme contracts on Ethereum-CTRF. This method forms a dataset by extracting the word features and sequence features of the smart contract’s code and the features of transactions. The dataset is divided into a training set and a test set. Oversampling is performed on the training set to deal with the problem of positive and negative sample imbalance. Finally, the model is trained on the training set and tested on the test set. The experimental results show that the model has significantly improved recall compared with existing Ponzi contract detection methods.
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Hilmand, Khan, Khan Hajra, Shauqat Ayesha, Tahir Sibgha, Hanif Sarmad, and Hamza Hafiz. "A Blockchain-based privacy preserving mechanism for mobile crowdsensing." Trends in Computer Science and Information Technology 7, no. 1 (February 11, 2022): 001–6. http://dx.doi.org/10.17352/tcsit.000044.
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In blockchain-based mobile crowdsensing, reporting of real-time data is stored on a public blockchain in which the address of every user/node is public. Now, the problem lies in the fact that if their addresses get shown to adversaries, all their transactions history is also going to be revealed. Therefore, crowdsensing demands a little privacy preservation strategy in which the identity of a user is unable to be revealed to an adversary or we can say that crowd sensors while reporting the real-time data must provide some level of anonymity to crowdsensing users/nodes [1]. The current crowdsensing architecture is not secure because of its centralized nature and the reason is a single point of failure also numerous kinds of attacks are possible by adversaries such as linkage attacks, Sybil attacks, and DDOS attacks to get the identity or any other valuable information about the nodes. The location of crowd sensors is also a threat that could lead to adversarial attacks. Consequently, some blockchain-based models must be proposed to attain privacy on the blockchain ledger. The solution can either be made up crowdsensing environment on a private blockchain or smart contracts may be the answer to this problem by which we can make the users secure from several attacks conducted by adversaries on the blockchain.
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R, Savitha, Ashwini K B, and Prashanth K. "Blockchain-Based Online Voting System." ECS Transactions 107, no. 1 (April 24, 2022): 13195–203. http://dx.doi.org/10.1149/10701.13195ecst.
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Digital voting is the use of electronic device, such as voting machines or an internet browser to cast vote. It has disadvantages like security of data and potential attacks such as DoS and DDoS attack. One way to solve these security credentials problems is through the blockchain technology. Blockchain technology embraces a decentralized system and the entire database is owned by many users that overcome the disadvantage of centralized system. The existing system has many security, confidentiality, and anonymity issues. These issues can be resolved by using blockchain technology. Here in the proposed system Ethereum blockchain is used, which enables smart contracts. Smart contracts can be written with solidity, which is object oriented programming language. The outcome of the project is it provides privacy by keeping individual’s vote secret by providing a unique transaction id to each voter. Eligibility is made once to vote and the transaction will be highly secure and encrypted.
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Zhang, Xitong, He Zhu, and Jiayu Zhou. "Shoreline: Data-Driven Threshold Estimation of Online Reserves of Cryptocurrency Trading Platforms (Student Abstract)." Proceedings of the AAAI Conference on Artificial Intelligence 34, no. 10 (April 3, 2020): 13985–86. http://dx.doi.org/10.1609/aaai.v34i10.7265.
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With the proliferation of blockchain projects and applications, cryptocurrency exchanges, which provides exchange services among different types of cryptocurrencies, become pivotal platforms that allow customers to trade digital assets on different blockchains. Because of the anonymity and trustlessness nature of cryptocurrency, one major challenge of crypto-exchanges is asset safety, and all-time amount hacked from crypto-exchanges until 2018 is over $1.5 billion even with carefully maintained secure trading systems. The most critical vulnerability of crypto-exchanges is from the so-called hot wallet, which is used to store a certain portion of the total asset online of an exchange and programmatically sign transactions when a withdraw happens. It is important to develop network security mechanisms. However, the fact is that there is no guarantee that the system can defend all attacks. Thus, accurately controlling the available assets in the hot wallets becomes the key to minimize the risk of running an exchange. In this paper, we propose Shoreline, a deep learning-based threshold estimation framework that estimates the optimal threshold of hot wallets from historical wallet activities and dynamic trading networks.
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Simaiya, Sarita, Umesh Kumar Lilhore, Sanjeev Kumar Sharma, Kamali Gupta, and Vidhu Baggan. "Blockchain: A New Technology to Enhance Data Security and Privacy in Internet of Things." Journal of Computational and Theoretical Nanoscience 17, no. 6 (June 1, 2020): 2552–56. http://dx.doi.org/10.1166/jctn.2020.8929.
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A revolutionary technology well into the world of technology has been in the modern world of technology the Internet of Things. Due to continuing increases as nothing more than a consequence of either the rapid development of computing Internet of things-based applications implementations. Many technologies become increasingly embraced throughout compatible devices such as home automation and also smart cities. These IoT applications become operated on both the Internet, whereby information becomes transported publicly between a network to the next, therefore flowing information requires a great deal of further privacy consideration to guarantee IoT applications become reliable Internet of things technologies have been using various techniques of data protection of security and privacy. However, all such modern security systems have always been sufficient to ensure the Internet of things perceived safety. A Blockchain has become a revolutionary authoritative digital technology that really transforms commercial transactions absolutely. This is also a collaborative service that facilitates it uses a variety of features of cybersecurity. Blockchain technology seems to be the missing piece of the puzzle throughout the IoT to address problems of usability, anonymity, including security. Block chain’s crypto algorithms must enable transparency from customers very confidential. Throughout this research article, we introduce an analysis of IoT security concerns; blockchain gets addressed briefly as well as later addresses the security of IoT applications dependent on blockchain technologies.
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Kurdi, Heba, Shada Alsalamah, Asma Alatawi, Sara Alfaraj, Lina Altoaimy, and Syed Hassan Ahmed. "HealthyBroker: A Trustworthy Blockchain-Based Multi-Cloud Broker for Patient-Centered eHealth Services." Electronics 8, no. 6 (May 29, 2019): 602. http://dx.doi.org/10.3390/electronics8060602.
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Delivering electronic health care (eHealth) services across multi-cloud providers to implement patient-centric care demands a trustworthy brokering architecture. Specifically, such an architecture should aggregate relevant medical information to allow informed decision-making. It should also ensure that this information is complete and authentic and that no one has tampered with it. Brokers deployed in eHealth services may fall short of meeting such criteria due to two key behaviors. The first involves violating international health-data protection laws by allowing user anonymity and limiting user access rights. Second, brokers claiming to provide trustworthy transactions between interested parties usually rely on user feedback, an approach vulnerable to manipulation by malicious users. This paper addresses these data security and trust challenges by proposing HealthyBroker, a novel, trust-building brokering architecture for multiple cloud environments. This architecture is designed specifically for patient-centric cloud eHealth services. It enables care-team members to complete eHealth transactions securely and access relevant patient data on a “need-to-know” basis in compliance with data-protection laws. HealthyBroker also protects against potential malicious behavior by assessing the trust relationship and tracking it using a neutral, tamper-proof, distributed blockchain ledger. Trust is assessed based on two strategies. First, all transactions and user feedback are tracked and audited in a distributed ledger for transparency. Second, only feedback coming from trustworthy parties is taken into consideration. HealthyBroker was tested in a simulated eHealth multi-cloud environment. The test produced better results than a benchmark algorithm in terms of data accuracy, service time, and the reliability of feedback received as measured by three malicious behavior models (naïve, feedback isolated, and feedback collective). These results demonstrate that HealthyBroker can provide care teams with a trustworthy, transparent ecosystem that can facilitate information sharing and well-informed decisions for patient-centric care.
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Duan, Li, Yangyang Sun, Kejia Zhang, and Yong Ding. "Multiple-Layer Security Threats on the Ethereum Blockchain and Their Countermeasures." Security and Communication Networks 2022 (February 14, 2022): 1–11. http://dx.doi.org/10.1155/2022/5307697.
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Blockchain technology has been widely used in digital currency, Internet of Things, and other important fields because of its decentralization, nontampering, and anonymity. The vigorous development of blockchain cannot be separated from the security guarantee. However, there are various security threats within the blockchain that have shown in the past to cause huge financial losses. This paper aims at studying the multi-level security threats existing in the Ethereum blockchain, and exploring the security protection schemes under multiple attack scenarios. There are ten attack scenarios studied in this paper, which are replay attack, short url attack, false top-up attack, transaction order dependence attack, integer overflow attack, re-entrancy attack, honeypot attack, airdrop hunting attack, writing of arbitrary storage address attack, and gas exhaustion denial of service attack. This paper also proposes protection schemes. Finally, these schemes are evaluated by experiments. Experimental results show that our approach is efficient and does not bring too much extra cost and that the time cost has doubled at most.
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Grigoriev, V. V. "National Digital Currency as a Factor of the Russia’s Economic Revival." Economics, taxes & law 12, no. 1 (March 12, 2019): 30–36. http://dx.doi.org/10.26794/1999-849x-2019-12-1-30-36.
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The past decade has highlighted the increasing role of virtual electronic digital currency in the financial sphere. This currency is now performing the functions of investment, storage and accumulation rather than solely the function of measuring the value of goods and services. Thus, the virtual digital currency has come to implement all basic functions of paper money.The purpose of the paperwas to put forward the thesis of the feasibility of introduction in Russia of a new virtual national digital currency operating on the basis of the blockchain technology, which will significantly revitalize the domestic economy. The paper provides the definition of the virtual digital currency and its types, discusses its advantages and disadvantages, gives a brief overview of the experience of using this currency in Russia and abroad, shows the current state of cost capitalization of the virtual digital currency and describes the legal framework for the virtual digital currency application. The paperconcludesthat rather than forbidding the crypto currency, there are all the reasons to arrange the issue and circulation of an officially accepted type of a virtual national digital currency that would give a powerful impetus to the development of all spheres of the country’s economy. Special attention is paid to the mechanism of the national digital currency operation with the government participation. Every citizen will be able to get a salary in a few seconds, buy everything he wants, invest in any project. Records of transactions in the user’s personal digital electronic purse will completely relieve him of paperwork. It is important to note that blockchain protocols do not allow transaction canceling or compulsory change of ledger entries. This means that all transactions will become safe and anonymous, and anonymity cannot be violated if only by illegal operations. This will suit all law-abiding citizens of the country. The advantages of the national digital currency will ensure its wide circulation in the country and lead to significant shrinking of the “gray” and “dark” cryptocurrency markets and revival of the domestic economy.
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Zhu, Yong, Chao Huang, Zhihui Hu, Abdullah Al-Dhelaan, and Mohammed Al-Dhelaan. "Blockchain-Enabled Access Management System for Edge Computing." Electronics 10, no. 9 (April 22, 2021): 1000. http://dx.doi.org/10.3390/electronics10091000.
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In the post-cloud era, edge computing is a new computing paradigm with data processed at the edge of the network, which can process the data close to the end-user in real time and offload the cloud task intelligently. Meanwhile, the decentralization, tamper-proof and anonymity of blockchain technology can provide a new trusted computing environment for edge computing. However, it does raise considerable concerns of security, privacy, fault-tolerance and so on. For example, identity authentication and access control rely on third parties, heterogeneous devices and different vendors in IoT, leading to security and privacy risks, etc. How to combine the advantages of the two has become the highlight of academic research, especially the issue of secure resource management. Comprehensive security and privacy involve all aspects of platform, data, application and access control. In. this paper, the architecture and behavior of an Access Management System (AMS) in a proof of concept (PoC) prototype are proposed with a Color Petri Net (CPN) model. The two domains of blockchain and edge computing are organically connected by interfaces and interactions. The simulation of operation, activity and role association proves the feasibility and effectiveness of the AMS. The instances of platform business access control, data access control, database services, IOT hub service are run on Advantech WISE-PaaS through User Account and Authentication (UAA). Finally, fine-grained and distributed access control can be realized with the help of a blockchain attribute. Namely, smart contracts are used to register, broadcast, and revoke access authorization, as well as to create specific transactions to define access control policies.
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Albrecht, Chad, Kristopher McKay Duffin, Steven Hawkins, and Victor Manuel Morales Rocha. "The use of cryptocurrencies in the money laundering process." Journal of Money Laundering Control 22, no. 2 (May 7, 2019): 210–16. http://dx.doi.org/10.1108/jmlc-12-2017-0074.
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Purpose This paper aims to analyze the money laundering process itself, how cryptocurrencies have been integrated into this process, and how regulatory and government bodies are responding to this new form of currency. Design/methodology/approach This paper is a theoretical paper that discusses cryptocurrencies and their role in the money laundering process. Findings Cryptocurrencies eliminate the need for intermediary financial institutions and allow direct peer-to-peer financial transactions. Because of the anonymity introduced through blockchain, cryptocurrencies have been favored by the darknet and other criminal networks. Originality/value Cryptocurrencies are a nascent form of money that first arose with the creation of bitcoin in 2009. This form of purely digital currency was meant as a direct competitor to government-backed fiat currency that are controlled by the central banking system. The paper adds to the recent discussions and debate on cryptocurrencies by suggesting additional regulation to prevent their use in money laundering and corruption schemes.
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Krylov, G. O., and V. M. Seleznev. "Current State and Development Trends of blockchain Technology in the Financial Sector." Finance: Theory and Practice 23, no. 6 (December 24, 2019): 26–35. http://dx.doi.org/10.26794/2587-5671-2019-23-6-26-35.
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The article analyzes the main reasons for the slow adoption of blockchain technology, in particular, in the financial sector. The authors critically analyzed the main declared properties of blockchain technologies: trust, security, decentralization, immutable data storage, lack of intermediaries, hardware protection against attacks, and openness. The aim of the study are to show that these blockchain properties are overestimated, the expectations of its adoption are inflated, and the delays in its adaptation outside of cryptocurrencies, in particular, in the financial sector, are natural. The article is based on a methodology for the qualitative and quantitative analysis of scientific publications and statistical sources on the blockchain adaptation from the perspective of the theory of diffusion of innovations, the conditions and the specifics of economic and sociological approaches for consensus-building. The study resulted in the following new systemic findings. Blockchain and distributed ledgers are not fundamentally new technologies. In general, they do not have the properties of the immutable data storage, trust, anonymity, low transaction and adoption costs. All current consensus technologies have fundamental faults. Cryptocurrency technology is original, but it was a private experimental solution to a specific ideological problem of the libertarian political agenda. Consensus does not provide trust. Delayed blockchain adoption, in particular in traditional financial institutions, is natural, since the technology does not show better results than current digital solutions, and traditional economic institutions have greater public trust. The practical implications of the findings are that they may be used by investors.
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Zhang, Xitong, He Zhu, and Jiayu Zhou. "Shoreline: Data-Driven Threshold Estimation of Online Reserves of Cryptocurrency Trading Platforms." Proceedings of the AAAI Conference on Artificial Intelligence 34, no. 01 (April 3, 2020): 1194–201. http://dx.doi.org/10.1609/aaai.v34i01.5472.
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With the proliferation of blockchain projects and applications, cryptocurrency exchanges, which provides exchange services among different types of cryptocurrencies, become pivotal platforms that allow customers to trade digital assets on different blockchains. Because of the anonymity and trustlessness nature of cryptocurrency, one major challenge of crypto-exchanges is asset safety, and all-time amount hacked from crypto-exchanges until 2018 is over $1.5 billion even with carefully maintained secure trading systems. The most critical vulnerability of crypto-exchanges is from the so-called hot wallet, which is used to store a certain portion of the total asset of an exchange and programmatically sign transactions when a withdraw happens. Whenever hackers managed to gain control over the computing infrastructure of the exchange, they usually immediately obtain all the assets in the hot wallet. It is important to develop network security mechanisms. However, the fact is that there is no guarantee that the system can defend all attacks. Thus, accurately controlling the available assets in the hot wallets becomes the key to minimize the risk of running an exchange. However, determining such optimal threshold remains a challenging task because of the complicated dynamics inside exchanges. In this paper, we propose Shoreline, a deep learning-based threshold estimation framework that estimates the optimal threshold of hot wallets from historical wallet activities and dynamic trading networks. We conduct extensive empirical studies on the real trading data from a trading platform and demonstrate the effectiveness of the proposed approach.
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Mohammed Wahab, Yousif, Alaan Ghazi, Aras Al-Dawoodi, Muthana Alisawi, Sirwan Saber Abdullah, Layth Hammood, and Asmaa Yaseen Nawaf. "A Framework for Blockchain Based E-Voting System for Iraq." International Journal of Interactive Mobile Technologies (iJIM) 16, no. 10 (May 24, 2022): 210–22. http://dx.doi.org/10.3991/ijim.v16i10.30045.
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Election is a basic democratic tool that offers an official mechanism for the people to express their opinions in order to form a government by democratic means. Electronic voting has evolved into the most significant application of e-governance and e-democracy. Few countries have recently taken the opportunity to test and use electronic voting systems. Also, many countries expect that internet voting will become a reality during the next decade. In the conventional voting system, the electors authenticate themselves by displaying credentials; this move is open to the public and is validated by poll workers. During this authentication, they are manually checked before being eligible to vote. The standard system of voting is more costly and needs more human capital. Because of these factors, the whole world is heading toward the trend of e-voting. Electronic voting devices are supposed to be the answer to the shortages. A secure e-voting system must meet many criteria, including uniqueness, performance, fairness, stability, safety, authentication, and anonymity. Blockchain is a modern security solution, which is capable of securing e-voting system. Blockchain is distributed ledger. Each block contains only one transaction. Block chain provides security using cryptography and hashing. Blockchain provides a perfect infrastructure to provide secure e-voting netwms.ork. Blockchain along with smart contracts need hour to improvise an e-voting system. This paper presents a secure blockchain based framework for an e-electronic voting in Iraq.
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Irwin, Angela S. M., and Adam B. Turner. "Illicit Bitcoin transactions: challenges in getting to the who, what, when and where." Journal of Money Laundering Control 21, no. 3 (July 2, 2018): 297–313. http://dx.doi.org/10.1108/jmlc-07-2017-0031.
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Purpose The purpose of this paper is to highlight the intelligence and investigatory challenges experienced by law enforcement agencies in discovering the identity of illicit Bitcoin users and the transactions that they perform. This paper proposes solutions to assist law enforcement agencies in piecing together the disparate and complex technical, behavioural and criminological elements that make up cybercriminal offending. Design/methodology/approach A literature review was conducted to highlight the main law enforcement challenges and discussions and examine current discourse in the areas of anonymity and attribution. The paper also looked at other research and projects that aim to identify illicit transactions involving cryptocurrencies and the darknet. Findings An optimal solution would be one which has a predictive capability and a machine learning architecture which automatically collects and analyses data from the Bitcoin blockchain and other external data sources and applies search criteria matching, indexing and clustering to identify suspicious behaviours. The implementation of a machine learning architecture would help improve results over time and would be less manpower intensive. Cyber investigators would also receive intelligence in a format and language that they understand and it would allow for intelligence-led and predictive policing rather than reactive policing. The optimal solution would be one which allows for intelligence-led, predictive policing and enables and encourages information sharing between multiple stakeholders from the law enforcement, financial intelligence units, cyber security organisations and fintech industry. This would enable the creation of red flags and behaviour models and the provision of up-to-date intelligence on the threat landscape to form a viable intelligence product for law enforcement agencies so that they can more easily get to the who, what, when and where. Originality/value The development of a functional software architecture that, in theory, could be used to detected suspicious illicit transactions on the Bitcoin network.
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Mkrtchian, Sona. "Property Crimes in the Blockchain Sphere: New Criminal Schemes and Their Criminal Law Assessment." Russian Journal of Criminology 14, no. 6 (December 30, 2020): 845–54. http://dx.doi.org/10.17150/2500-4255.2020.14(6).845-854.
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The sphere of blockchain and circulation of cryptocurrency should be recognized as one of the most dynamically developing branches of economy, and this claim is further supported by its unique features, such as the de-centralized character of the net, the anonymity of users and their actions, the inability to recall or reverse the transaction, and a high volatility of virtual currencies. These characteristics made the blockchain technology attractive not only for law-abiding individuals, but also for criminals. For a long time most legal scholars in Russia and abroad viewed the sphere of blockchain as the sphere of criminal actions connected with illegal trade in goods, services or materials, whose circulation is limited or forbidden (narcotic substances, arms, pornography, etc.), and with laundering of illegal gains or financing terrorism. Current global trends in combating cybercrime leave no doubt that the ideas of the invulnerability of the blockchain net to unsanctioned access through the modifications of codes, the use of malware, the invulnerability to thefts or other property crimes against users or the third party are rather utopian. The legislative practice of recent years shows that these trends have not yet been recognized in our country. The research presented in this article consisted in the analysis of property crimes in the sphere of blockchain that are most common in the global virtual space, including in its Russian segment. The author describes the options for the qualification of such criminal actions provided by the current legislation and used in Russian court practice. The author also identifies the cases when the texts of some Articles of the Criminal Code of the Russian Federation do not match the level of public danger and the essence of criminal infringements against property committed with the use of information technologies, including the sphere of blockchain. A number of suggestions on improving the texts of Art. 158, 159.6, 165, 272 and 273 of the CC of the RF are presented.
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Boiko, Viktor. "CENTRAL BANKS DIGITAL CURRENCIES AND PROSPECTS FOR THE UKRAINIAN ECONOMY." Economics & Education 6, no. 2 (August 27, 2021): 73–78. http://dx.doi.org/10.30525/2500-946x/2021-2-13.
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The article is devoted to the study of the main directions of research on the introduction of digital money of the world's leading central banks. The paper analyze the experience of the central banks of Saudi Arabia and the United Arab Emirates in implementing a single digital dual-issue currency and cross-border payment system (Aber project). Also we found the Helvetia project, a joint experiment of the BIS Innovation Hub, SIX Group AG and the Swiss National Bank. The project provided issuance of a new wholesale digital currency by the central bank and can be classified as a private permissioned peer-to-peer network with hierarchical access to the ledger. Interesting for our study was the experience of creating a CBDC in Uruguay (E-Peso), where CBDC have been issued in form of unique digital banknotes of several denominations. The article considers the main prospects for the implementation of CBDC in Ukraine. The paper studies the use and legal status of electronic digital signatures in Ukraine. Today, only reporting to regulatory authorities and document flow between users is carried out using electronic digital signatures. CBDC and blockchain network can provide secure storage of information by data centers of regulatory authorities and a common operational space in the financial information channels. The blockchain network should be token-based, and service providers could use an account-based retail payment system. The article defines the main characteristics of token-based and account-based distributed ledgers. Attention is also paid to the anonymity of transactions in payment systems, protection of personal data and the cultural component of cash circulation. Most likely the introduction of CBDC will reduce the total amount of bank financing and banks need to consider how to respond to potential loss of deposit funding. The most likely changes associated with CBDC is the redistribution of profits that banks receive from cheap liabilities in favor of customers. This applies to the owners of operating accounts, on which banks usually charge symbolic interest and which users keep in a liquid form for making payments.
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Perepelytsya, Maria. "Financial security of the state in the field of circulation and use of virtual currencies." Law and innovations, no. 3 (35) (September 21, 2021): 69–77. http://dx.doi.org/10.37772/2518-1718-2021-3(35)-10.
Full textAbstract:
Problem setting. An important condition for the financial security of any state is full control over the monetary system, which allows not only to perform tasks in the field of regulation of social processes, but also to predict their further development, to determine priorities. Legislation regulated such types of financial security as budget, tax, banking, monetary, currency, investment, debt and others. Legal relations within these areas of financial activity of the state are clear to its participants, they function in the material "physical" world and the state only corrects them by making changes and additions to existing legal norms and laws. The rapid development of information technology (digital revolution) has penetrated and continues to affect all spheres of society. In IT, there is a direction that works to improve financial technologies. The creation of a virtual currency or cryptocurrency, i.e. virtual money, can be considered a revolutionary discovery in the field of financial technologies. Money is the main component of the state's financial sovereignty, the basis of its existence. The monopoly on the issuance of money and control over its circulation has always belonged to the state represented by central banks and other financial regulators (Ministry of Finance). In essence, the state has an objective need to issue, control and supervise its currency (one of the features of the state in general is the collection of taxes, i.e. money in the form of taxes). Therefore, the issue of protecting financial security in the circulation of virtual currencies is important for any state. The purpose of the research is to analyze the legal regulation of virtual currency in the areas of banking, tax, budget activities of the state and activities related to combating and preventing money laundering. Analysis of resent researches and publications. The essence of such a new financial phenomenon as virtual currency, its functionality, types and principles of operation were studied in the works of domestic scientists M. Kucheryavenko, A. Kud, E. Smychok, A. Ovcharenko, O. Glushchenko, S. Khvalinsky and foreign - Fredrik Schneider, E. Gots. At the same time, there is a separate aspect of this problem – these are the challenges and threats that arise and tend to increase in the financial security of any state, namely - in the banking system, tax and budgetary relations, in the field of money laundering by criminal means. Articles main body. The emergence of a new virtual currency, money that is emerging, existing and disappearing forever in cyberspace - this is in the full sense of the word a new challenge to financial security. Legislatively regulating the circulation of virtual currency in detail is a difficult task, because the very algorithm of its operation, originally laid down by the founders - provides for the purpose of avoiding such regulation. The circulation and operation of virtual currency is based on mathematical schemes and formulas, which gives it stability to any state and centralized regulation. The main advantage of virtual currency is its anonymity. The personal data of the e-wallet owner is kept secret. Sometimes the transactions themselves contain such a complex and confusing pattern of movement, which generally disappears in cyberspace. The circulation of virtual currency is not controlled by the state. Does this pose a threat to the financial security of the state? Really, and serious. After all, an alternative currency and a payment system operating in cyberspace have been created, improved and are gaining momentum. Cryptocurrency becomes a competitor to the national currency of any state. Therefore, it should be noted that the state has grounds to interfere in the regulation of cryptocurrency circulation. What are the direct threats and risks from the existence of a virtual decentralized cryptocurrency system? These threats can be divided into areas of financial activity of the state and identify the most important of them. These are the banking sector, the monetary sphere, the tax and related budget sphere, the legal relations in the field of financial monitoring, the debt sphere. The introduction of digital currencies and blockchain technologies threatens to destroy the banking system in its traditional form. The fact is that virtual currencies and the blockchain allow any entity (physical and legal, etc.) to communicate economically directly, bypassing any intermediaries. And modern banks are such classic intermediaries, in addition to the monopoly type. Problems also arise in the field of tax evasion with the help of virtual currency. Such activity can be taxed only if one condition is met - if users of this network (real taxpayers) will be willing to declare and keep records of their transactions with virtual currencies. And will there be many such people? It is clear that the risks of tax evasion in the circulation of virtual currencies pose threats first in the tax sphere, destroying the state's ability to protect its economic interests, the ability to realize and develop the country's tax potential, and then create threats to budget security. Virtual currencies that can be exchanged for real money pose a threat of their illegal use for money laundering and terrorist financing. They may allow for anonymous transfers if the sender's and recipient's identities are not properly established. In this situation, there is no control body with which to track and detect suspicious transactions. Today, we can give examples of services designed to hide sources of virtual currency, transactions with them and complete anonymity. Yes, anonymizer means "dark networks" and "mixers", which are designed for these types of operations. Their types are the Tor network (anonymous network), Dark Wallet (anonymous network service), Bitcoin Laundry (mixer), Cold Storage, Hot Storage. Conclusions. The emergence of Fintech in information and telecommunication technologies, on the basis of which a system of virtual currencies and decentralized payment systems was developed and implemented, has created a number of serious threats and risks for the world. The main principle of the virtual currency is anonymity, which allows users to completely prevent government and financial control by the authorities, which is a very attractive prospect for many of them. Unregulated cryptocurrency market threatens the financial security of the state in the banking, tax, budgetary spheres and legal relations in the field of money laundering. The only way to counter these threats is to take full control and supervision of the decentralized system of virtual currency circulation. Unfortunately, the creation of an alternative centralized system of virtual currencies, which is subordinated to state and financial institutions, is not able to completely solve this problem.
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Perepelytsya, Maria. "Financial security of the state in the field of circulation and use of virtual currencies." Law and innovations, no. 3 (35) (September 21, 2021): 69–77. http://dx.doi.org/10.37772/2518-1718-2021-3(35)-10.
Full textAbstract:
Problem setting. An important condition for the financial security of any state is full control over the monetary system, which allows not only to perform tasks in the field of regulation of social processes, but also to predict their further development, to determine priorities. Legislation regulated such types of financial security as budget, tax, banking, monetary, currency, investment, debt and others. Legal relations within these areas of financial activity of the state are clear to its participants, they function in the material "physical" world and the state only corrects them by making changes and additions to existing legal norms and laws. The rapid development of information technology (digital revolution) has penetrated and continues to affect all spheres of society. In IT, there is a direction that works to improve financial technologies. The creation of a virtual currency or cryptocurrency, i.e. virtual money, can be considered a revolutionary discovery in the field of financial technologies. Money is the main component of the state's financial sovereignty, the basis of its existence. The monopoly on the issuance of money and control over its circulation has always belonged to the state represented by central banks and other financial regulators (Ministry of Finance). In essence, the state has an objective need to issue, control and supervise its currency (one of the features of the state in general is the collection of taxes, i.e. money in the form of taxes). Therefore, the issue of protecting financial security in the circulation of virtual currencies is important for any state. The purpose of the research is to analyze the legal regulation of virtual currency in the areas of banking, tax, budget activities of the state and activities related to combating and preventing money laundering. Analysis of resent researches and publications. The essence of such a new financial phenomenon as virtual currency, its functionality, types and principles of operation were studied in the works of domestic scientists M. Kucheryavenko, A. Kud, E. Smychok, A. Ovcharenko, O. Glushchenko, S. Khvalinsky and foreign - Fredrik Schneider, E. Gots. At the same time, there is a separate aspect of this problem – these are the challenges and threats that arise and tend to increase in the financial security of any state, namely - in the banking system, tax and budgetary relations, in the field of money laundering by criminal means. Articles main body. The emergence of a new virtual currency, money that is emerging, existing and disappearing forever in cyberspace - this is in the full sense of the word a new challenge to financial security. Legislatively regulating the circulation of virtual currency in detail is a difficult task, because the very algorithm of its operation, originally laid down by the founders - provides for the purpose of avoiding such regulation. The circulation and operation of virtual currency is based on mathematical schemes and formulas, which gives it stability to any state and centralized regulation. The main advantage of virtual currency is its anonymity. The personal data of the e-wallet owner is kept secret. Sometimes the transactions themselves contain such a complex and confusing pattern of movement, which generally disappears in cyberspace. The circulation of virtual currency is not controlled by the state. Does this pose a threat to the financial security of the state? Really, and serious. After all, an alternative currency and a payment system operating in cyberspace have been created, improved and are gaining momentum. Cryptocurrency becomes a competitor to the national currency of any state. Therefore, it should be noted that the state has grounds to interfere in the regulation of cryptocurrency circulation. What are the direct threats and risks from the existence of a virtual decentralized cryptocurrency system? These threats can be divided into areas of financial activity of the state and identify the most important of them. These are the banking sector, the monetary sphere, the tax and related budget sphere, the legal relations in the field of financial monitoring, the debt sphere. The introduction of digital currencies and blockchain technologies threatens to destroy the banking system in its traditional form. The fact is that virtual currencies and the blockchain allow any entity (physical and legal, etc.) to communicate economically directly, bypassing any intermediaries. And modern banks are such classic intermediaries, in addition to the monopoly type. Problems also arise in the field of tax evasion with the help of virtual currency. Such activity can be taxed only if one condition is met - if users of this network (real taxpayers) will be willing to declare and keep records of their transactions with virtual currencies. And will there be many such people? It is clear that the risks of tax evasion in the circulation of virtual currencies pose threats first in the tax sphere, destroying the state's ability to protect its economic interests, the ability to realize and develop the country's tax potential, and then create threats to budget security. Virtual currencies that can be exchanged for real money pose a threat of their illegal use for money laundering and terrorist financing. They may allow for anonymous transfers if the sender's and recipient's identities are not properly established. In this situation, there is no control body with which to track and detect suspicious transactions. Today, we can give examples of services designed to hide sources of virtual currency, transactions with them and complete anonymity. Yes, anonymizer means "dark networks" and "mixers", which are designed for these types of operations. Their types are the Tor network (anonymous network), Dark Wallet (anonymous network service), Bitcoin Laundry (mixer), Cold Storage, Hot Storage. Conclusions. The emergence of Fintech in information and telecommunication technologies, on the basis of which a system of virtual currencies and decentralized payment systems was developed and implemented, has created a number of serious threats and risks for the world. The main principle of the virtual currency is anonymity, which allows users to completely prevent government and financial control by the authorities, which is a very attractive prospect for many of them. Unregulated cryptocurrency market threatens the financial security of the state in the banking, tax, budgetary spheres and legal relations in the field of money laundering. The only way to counter these threats is to take full control and supervision of the decentralized system of virtual currency circulation. Unfortunately, the creation of an alternative centralized system of virtual currencies, which is subordinated to state and financial institutions, is not able to completely solve this problem.
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Huang, Ke, Xiaosong Zhang, Yi Mu, Fatemeh Rezaeibagha, and Xiaojiang Du. "Scalable and redactable blockchain with update and anonymity." Information Sciences 546 (February 2021): 25–41. http://dx.doi.org/10.1016/j.ins.2020.07.016.
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