
TL;DR
IdentityChain is a blockchain-based KYC framework that balances user privacy with regulatory accountability, utilizing cryptographic advancements to ensure compliance and prevent misuse.
Contribution
It introduces a novel privacy and accountability integrated framework for blockchain KYC services, addressing regulatory conflicts and enhancing user trust.
Findings
Provides privacy-preserving KYC on public blockchains
Ensures user accountability and regulatory compliance
Utilizes cryptographic techniques for security
Abstract
The first generation of cryptocurrencies introduced revolutionary concepts, yet faced challenges in privacy and regulatory compliance. While subsequent cryptocurrencies aimed to address privacy concerns (like Zcash and Monero), they often conflicted with regulatory frameworks, hindering broader adoption. In response, inspired by recent researches about privacy and accountability and incentive techniques in Blockchain, we propose IdentityChain as a novel framework that integrates privacy and accountability principles, leading to a robust system equipped with adaptable rules. IdentityChain is a KYC (Know Your Customer) service on top of a public Blockchain (e.g., Ethereum, Ton, Polygon). The goal is to maintain privacy while ensuring compliance with existing regulations. Privacy is one of the key characteristics of IdentityChain, it's crucial for preventing conflicts of interests…
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Taxonomy
TopicsData Analysis and Archiving · Sociology and Education Studies
