Blockchain International Certification Layer
Saeed Ali Faris Alketbi, Massudi Mahmuddin · 2023
Blockchain was developed as a decentralized public ledger that stores data among computer nodes. Online transactions and digital money systems were designed to ensure that people could interact freely and without bias. Due to ongoing fraud and the system’s shortcomings in protecting users from fraud and money laundering, this has recently been proven to be the contrary. This study examines the effects of the international certification layer (ICL) on the blockchain system. It also sheds light on the new ICL innovation, which adds a new layer to the blockchain system and its obligations toward users and the government. Additionally, this study will examine blockchain technology, including its functions and the benefits that the ICL offers to the overall system. All users’ safety is a major concern in this context, as is the user experience. the blockchain system also encourages government involvement and intervention in online transactions and access to consumer data. Insecurity and fraud are the key problems associated with digital money; this study aims to demonstrate the importance of the ICL in addressing these problems. It guarantees the functionality of the ICL and its roles through various technical tests and by adding additional layers to the blockchain system.