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

Deutsche Telekom Innovation Laboratories

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

1 Scopus citations

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

UN SDGs

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

SDG 10 Reduced Inequalities
SDG 17 Partnerships for the Goals

Keywords

Anonymity
Anti-money laundering
Blockchain
Cryptocurrency
Privacy

ASJC Scopus subject areas

Theoretical Computer Science
General Computer Science

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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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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N2 - 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.

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

UN SDGs

Keywords

ASJC Scopus subject areas

Access to Document

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Cite this