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Efficient KYC for DAO Using Blockchain
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DOI：10.1007/978-981-96-7502-9_20.png)
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Abstract
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An Electronic Know Your Customer (e-KYC) system is essential for banking and identity providers to verify customer identities efficiently. With the widespread adoption of cloud computing, due to its resource efficiency and high accessibility, many sectors have implemented their e-KYC systems on the cloud. This shift, however, raises significant concerns about the security and privacy of e-KYC documents stored in the cloud. Blockchain technology, a recent innovation, offers potential solutions to enhance various application domains, including digital identity verification. This project proposes a Blockchain-based e-KYC system to address these concerns. This system provides a secure, efficient, and reliable method for identity authentication, which is particularly beneficial in sectors such as banking, telecommunications, and government services. By utilizing a distributed ledger to store and verify customer data, the proposed e-KYC framework ensures data integrity and minimizes fraudulent activities. In this framework, customer data is stored on a distributed ledger and encrypted to enhance security. This encryption safeguards sensitive personal information from unauthorized access and cyber threats. This project combines the Ethereum blockchain with Zero-Knowledge Proof (ZKP) technology to provide strong digital identity verification, maintain data integrity, and reduce fraud. The decentralized nature of the proposed e-KYC system not only boosts security but also reduces reliance on central authorities, thereby accelerating the verification process and lowering operational costs. This approach offers a robust solution for secure digital identity verification.
Keywords:
Blockchain
e-KYC
Distributed ledger
Ethereum
Zero-knowledge
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