BitFlow: Enabling real‐time cash‐flow evaluations through blockchain

Herskind, Lasse; Giaretta, Alberto; Donno, Michele De; Dragoni, Nicola

doi:10.1002/cpe.5333

Cited by 3 publications

(4 citation statements)

References 12 publications

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“…Blockchain requires the consent of her 51% or more of approved nodes to change stored data. This makes data tampering difficult and makes data tampering and fraud nearly impossible [19]. "Consensus mechanism" means that all authorized members participate in viewing, updating, and maintaining the system without unlimited power.…”

Section: Introductionmentioning

confidence: 99%

Application Analysis of Block Technology Based on Block Chain Computer Model in the False Identification of the Catalog List of the Financial Department of Multinational Companies

2022

Advances in Multimedia

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The financial data of some listed companies is not transparent enough, especially in financial-related management and program planning. In addition to legal and ethical constraints, with the continuous upgrading of blockchain technology, it is possible to explore the use of blockchain technology to lower the threshold for a certain number of investors to participate in corporate financial governance. Jointly supervising the capital flow of listed companies can ensure the safety of funds and improve the efficiency of capital use, thereby solving the problem of financial fraud of listed companies to a certain extent. The four core features of blockchain technology include decentralized distributed ledgers, consensus mechanisms, asymmetric encryption, and smart contracts. Exploring the feasibility and embedding path of chain technology in the capital supervision of listed companies will help to solve this problem. The integrated application of blockchain technology plays an important role in new technology innovation and industrial transformation. According to the unique technical characteristics of blockchain technology such as decentralization, nontampering, and traceability, combined with its application scenarios in the accounting field, it is hoped to use blockchain technology to solve problems such as information asymmetry and easy tampering of financial amounts from the source. Therefore, effective analysis can reduce the occurrence of financial fraud and fraud in listed companies, and blockchain technology has become a new way to prevent financial fraud in listed companies. This paper analyzes the classification and basic characteristics of blockchain, and studies the access mechanism and voting rules of candidate nodes based on the private chain architecture of the Raft distributed protocol to ensure the authenticity and real-time of financial information of listed companies and financial decisions. Improving the difficulty of financial fraud can provide good social and economic benefits.

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Section: Introductionmentioning

confidence: 99%

Application Analysis of Block Technology Based on Block Chain Computer Model in the False Identification of the Catalog List of the Financial Department of Multinational Companies

2022

Advances in Multimedia

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“…In [42], Herskind et al show how Zero-Knowledge range proofs, as proposed by Bünz et al [43], could be used to support confidential transactions between two ''known'' senders, without disclosing the transferred amount. In this work, the knowledge of the attacker is limited through concealment of the transaction values.…”

Section: B: Zero-knowledge Proofsmentioning

confidence: 99%

“…In this work, the knowledge of the attacker is limited through concealment of the transaction values. Independently from [42], Bünz et al [12], at the same time, proposed Zether, a scheme that allows confidential and anonymous transactions on the Ethereum-network by using ring-signatures [44] on top of the range proofs.…”

Section: B: Zero-knowledge Proofsmentioning

confidence: 99%

Privacy and Cryptocurrencies—A Systematic Literature Review

2020

Self Cite

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Our transaction history in the current centralized banking system has the ability to reveal a lot of private information for each spender, both to the banking system itself, but also to those entities that surround it (e.g., governments, industry etc). Examples of leaking information constitute the amounts spent, the goods on which the amounts were spent, the spending locations and the users we exchange money with. This knowledge is powerful in the hands of those who have it, and can be used in multiple ways, not always to our benefit. Cryptocurrencies, such as the famous Bitcoin, were proposed as a means to address the limitations of centralized banking systems and to offer its users privacy with regards to their transactional data. In this work, we perform a systematic literature review on the realm of privacy for electronic currencies. We present the development of digital money from electronic cash to cryptocurrencies and focus on the techniques that are employed to enhance user-privacy. Furthermore, we present flaws of the current cryptocurrency systems, which reduce the privacy of the cryptocurrency users. Finally, we describe three research directions to enhance privacy for cryptocurrencies: transaction propagation mechanisms, succinct ZK proof systems without a trusted setup, and specialised trustless zero-knowledge proofs. INDEX TERMS Anonymity, bitcoin, confidentiality, cryptocurrencies, electronic cash, privacy, zero-knowledge.

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“…Herskind et al propose a new approach to disbursement registration. In this paper, they present BitFlow, a blockchain‐based architecture that provides complete cash‐flow transparency and diminishes the probability of undetected frauds through the BitKrone, a non‐volatile cryptocurrency that maps to the Danish Krone (DKK).…”

Section: Themes Of This Special Issuementioning

confidence: 99%