Casper: a blockchain-based system for efficient and secure customer credential verification

Journal of Banking and Financial Technology - Tập 6 - Trang 43-62 - 2021
Eranga Bandara1, Sachin Shetty1, Ravi Mukkamala1, Xueping Liang2, Peter Foytik1, Nalin Ranasinghe3, Kasun De Zoysa3
1Old Dominion University, Norfolk, USA
2University of North Carolina at Greensboro, Greensboro, USA
3University of Colombo School of Computing, Colombo, Sri Lanka

Tóm tắt

Customer credential verification is an ongoing activity at financial institutions. Know Your Customer is one such periodic verification activity. Often, organizations store the collected customer credentials on centralized storage platforms (e.g., cloud storage and central servers) which could result in major privacy breaches. In addition, when a customer has accounts at multiple institutions, this process is repeated at each of the institutions, resulting in wasted resources and inconvenience to the customer. In this paper, we describe Casper, a blockchain and self-sovereign identity-based digital identity platform, to address these issues. Unlike traditional identity systems, here the actual identity credentials of customers are stored on their own mobile wallet applications. The system only stores the proofs of the credentials on its blockchain-based decentralized storage system. Casper employs Zero-Knowledge Proof mechanisms to verify the identity information from the credential proofs. As a proof of concept, we have employed Casper in a banking environment. Preliminary evaluation studies show the system to be scalable and being capable of yielding high transaction throughput.

Tài liệu tham khảo

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