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Computer Science > Computational Engineering, Finance, and Science

arXiv:2204.13508 (cs)
[Submitted on 28 Apr 2022]

Title:Design of Blockchain-based Travel Rule Compliance System

Authors:Chaehyeon Lee, Changhoon Kang, Wonseok Choi, Jehoon Lee, Myunghun Cha, Jongsoo Woo, James Won-Ki Hong
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Abstract:In accordance with the guidelines of the Financial Action Task Force (FATF), Virtual Asset Service Providers (VASPs) should comply with a `travel rule', which requires them to exchange originator's and beneficiary's personal information when transferring virtual assets. In this paper, we propose a novel blockchain-based travel rule compliance system that supports fully-decentralized data exchange. The proposed system uses a permissioned blockchain, and thereby eliminates the possibility of leakage of personal information to third parties or even to travel rule service providers, and ensures that travel rule data can be managed securely.
Comments: 3 pages, 1 figure, 1 table. Accepted to IEEE ICBC 2022 as a poster paper
Subjects: Computational Engineering, Finance, and Science (cs.CE)
Cite as: arXiv:2204.13508 [cs.CE]
  (or arXiv:2204.13508v1 [cs.CE] for this version)
  https://doi.org/10.48550/arXiv.2204.13508

Submission history

From: Changhoon Kang [view email]
[v1] Thu, 28 Apr 2022 13:57:49 UTC (122 KB)
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