Know Your Customer Verification using Blockchain and CPABE Algorithm
Suman Mandava -, Joseph Savio Pereira, S. Janagiraman · 2023
In the rapidly evolving e-KYC landscape, the study tackles challenges in data security, interoperability, and efficiency. Proposed solution, “e-KYC TrustBlock,” a blockchain-based scheme using CP-ABE, ensures tamper-resistant KYC verification and promotes cross-institutional collaboration. Introducing a one-time access key and a consent-based mechanism, the proposed model empowers users. Through rigorous testing, we demonstrate superior security, efficiency, and user-centric features compared to recent works. Proposed approach addresses previous limitations, paving the way for a more secure and user-friendly e-KYC ecosystem.