Controllable privacy preserving blockchain: Fiatchain: Distributed privacy preserving cryptocurrency with law enforcement capabilities

Rami Puzis; Guy Barshap; Polina Zilberman; Oded Leiba

doi:10.1007/978-3-030-20951-3_16

Controllable privacy preserving blockchain: Fiatchain: Distributed privacy preserving cryptocurrency with law enforcement capabilities

Rami Puzis, Guy Barshap, Polina Zilberman, Oded Leiba

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

Central banks are reluctant to accept cryptocurrency, because current implementations of decentralized privacy preserving transactions make it impossible to apply know your customer (KYC) and anti-money laundering (AML) procedures. In this paper, we augment a distributed privacy preserving cyptocurrency known as Monero with KYC and AML procedures. The proposed solution relies on secretly sharing of the clients’ private view keys and private transaction keys among a large number of permissioned signers (PSs). The resulting cryptocurrency maintains the notion of distributed trust while allowing a group of PSs to cooperate, collectively applying KYC and AML procedures.

Original language	English
Title of host publication	Cyber Security Cryptography and Machine Learning - 3rd International Symposium, CSCML 2019, Proceedings
Editors	Shlomi Dolev, Danny Hendler, Sachin Lodha, Moti Yung
Publisher	Springer Verlag
Pages	178-197
Number of pages	20
ISBN (Print)	9783030209506
DOIs	https://doi.org/10.1007/978-3-030-20951-3_16
State	Published - 1 Jan 2019
Event	3rd International Symposium on Cyber Security Cryptography and Machine Learning, CSCML 2019 - Beer Sheva, Israel Duration: 27 Jun 2019 → 28 Jun 2019

Publication series

Name	Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume	11527 LNCS
ISSN (Print)	0302-9743
ISSN (Electronic)	1611-3349

Conference

Conference	3rd International Symposium on Cyber Security Cryptography and Machine Learning, CSCML 2019
Country/Territory	Israel
City	Beer Sheva
Period	27/06/19 → 28/06/19

Keywords

Anonymity
Anti-money laundering
Blockchain
Cryptocurrency
Privacy

ASJC Scopus subject areas

Theoretical Computer Science
General Computer Science

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1007/978-3-030-20951-3_16

Cite this

Puzis, R., Barshap, G., Zilberman, P., & Leiba, O. (2019). Controllable privacy preserving blockchain: Fiatchain: Distributed privacy preserving cryptocurrency with law enforcement capabilities. In S. Dolev, D. Hendler, S. Lodha, & M. Yung (Eds.), Cyber Security Cryptography and Machine Learning - 3rd International Symposium, CSCML 2019, Proceedings (pp. 178-197). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 11527 LNCS). Springer Verlag. https://doi.org/10.1007/978-3-030-20951-3_16

Puzis, Rami ; Barshap, Guy ; Zilberman, Polina et al. / Controllable privacy preserving blockchain : Fiatchain: Distributed privacy preserving cryptocurrency with law enforcement capabilities. Cyber Security Cryptography and Machine Learning - 3rd International Symposium, CSCML 2019, Proceedings. editor / Shlomi Dolev ; Danny Hendler ; Sachin Lodha ; Moti Yung. Springer Verlag, 2019. pp. 178-197 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)).

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title = "Controllable privacy preserving blockchain: Fiatchain: Distributed privacy preserving cryptocurrency with law enforcement capabilities",

abstract = "Central banks are reluctant to accept cryptocurrency, because current implementations of decentralized privacy preserving transactions make it impossible to apply know your customer (KYC) and anti-money laundering (AML) procedures. In this paper, we augment a distributed privacy preserving cyptocurrency known as Monero with KYC and AML procedures. The proposed solution relies on secretly sharing of the clients{\textquoteright} private view keys and private transaction keys among a large number of permissioned signers (PSs). The resulting cryptocurrency maintains the notion of distributed trust while allowing a group of PSs to cooperate, collectively applying KYC and AML procedures.",

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Puzis, R, Barshap, G, Zilberman, P & Leiba, O 2019, Controllable privacy preserving blockchain: Fiatchain: Distributed privacy preserving cryptocurrency with law enforcement capabilities. in S Dolev, D Hendler, S Lodha & M Yung (eds), Cyber Security Cryptography and Machine Learning - 3rd International Symposium, CSCML 2019, Proceedings. Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics), vol. 11527 LNCS, Springer Verlag, pp. 178-197, 3rd International Symposium on Cyber Security Cryptography and Machine Learning, CSCML 2019, Beer Sheva, Israel, 27/06/19. https://doi.org/10.1007/978-3-030-20951-3_16

Controllable privacy preserving blockchain: Fiatchain: Distributed privacy preserving cryptocurrency with law enforcement capabilities. / Puzis, Rami; Barshap, Guy; Zilberman, Polina et al.
Cyber Security Cryptography and Machine Learning - 3rd International Symposium, CSCML 2019, Proceedings. ed. / Shlomi Dolev; Danny Hendler; Sachin Lodha; Moti Yung. Springer Verlag, 2019. p. 178-197 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 11527 LNCS).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AB - Central banks are reluctant to accept cryptocurrency, because current implementations of decentralized privacy preserving transactions make it impossible to apply know your customer (KYC) and anti-money laundering (AML) procedures. In this paper, we augment a distributed privacy preserving cyptocurrency known as Monero with KYC and AML procedures. The proposed solution relies on secretly sharing of the clients’ private view keys and private transaction keys among a large number of permissioned signers (PSs). The resulting cryptocurrency maintains the notion of distributed trust while allowing a group of PSs to cooperate, collectively applying KYC and AML procedures.

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Puzis R, Barshap G, Zilberman P, Leiba O. Controllable privacy preserving blockchain: Fiatchain: Distributed privacy preserving cryptocurrency with law enforcement capabilities. In Dolev S, Hendler D, Lodha S, Yung M, editors, Cyber Security Cryptography and Machine Learning - 3rd International Symposium, CSCML 2019, Proceedings. Springer Verlag. 2019. p. 178-197. (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)). doi: 10.1007/978-3-030-20951-3_16

Controllable privacy preserving blockchain: Fiatchain: Distributed privacy preserving cryptocurrency with law enforcement capabilities

Abstract

Publication series

Conference

Keywords

ASJC Scopus subject areas

UN SDGs

Access to Document

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