• Journal of Information Processing Systems
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• v.16 no.4
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• pp.935-958
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• 2020

The core value of finance is credit. It can be said that without credit, there can be no finance. The distributed structure of the blockchain and the low-cost trust-building mechanism based on mathematical algorithms provide a new solution and path for solving and optimizing related problems in the financial field. The blockchain technology is applied in the development of the financial industry through consensus mechanisms, smart contracts, and distributed networks. In this research, a comprehensive survey of the blockchain technology is proposed in the development of financial services including equity crowdfunding and credit investigations in inclusive finance, cross-border remittance, Internet financial payment, P2P lending, supply chains finance, and the application of blockchain in the field of anti-money laundering. This paper discusses the role of blockchain in solutions to different issues in the financial field. It also discusses the architectures in different financial service application scenarios from the perspective of the financial trust mechanism and the perspective of the technology and rule change of blockchain participation in financial innovation. Finally, the problems and challenges of blockchain in financial services are discussed, and corresponding solutions are proposed.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.15 no.8
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• pp.2865-2878
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• 2021

As a current popular technology, the blockchain has a serious issue: the private key cannot be retrieved due to force majeure. Since the outcome of the blockchain-based Bitcoin, there have been many occurrences of the users who lost or forgot their private keys and could not retrieve their token wallets, and it may cause the permanent loss of their corresponding blockchain accounts, resulting in irreparable losses for the users. We propose a recoverable private key scheme for consortium blockchain based on the verifiable secret sharing which can enable the user's private key in the consortium blockchain to be securely recovered through a verifiable secret sharing method. In our secret sharing scheme, users use the biometric keys to encrypt shares, and the preset committer peers in the consortium blockchain act as the participants to store the users' private key shares. Due to the particularity of the biometric key, only the user can complete the correct secret recovery. Our comparisons with the existing mnemonic systems or the multi-signature schemes have shown that our scheme can allow users to recover their private keys without storing the passwords accurately. Hence, our scheme can improve the account security and recoverability of the data-sharing systems across physical and virtual platforms that use blockchain technology.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.13 no.8
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• pp.4093-4107
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• 2019

Proof of Work (PoW) based blockchains have limitations in throughput, time consumption, and energy efficiency. In these systems, a miner will consume significant time and resources to obtain a reward for contributing to the blockchain. To overcome these limitations, recent research on blockchains are focused on accelerating the speed, scalability, and enhancing the security level. By enhancing specific procedures of blockchain system, the level of data integrity supported by the blockchain can become more robust, and efficient. In this paper, a new blockchain consensus model based on the Bryllite Consensus Protocol (BCP) is proposed to support a hyper-connected massively multiplayer online game (MMOG) ecosystem. The BCP scheme enables users to participate directly in new consensus processes through a Proof of Participation (PoP) algorithm. In this model, the consensus algorithm has a simpler form while maintaining high security level. In addition, because the BCP scheme gives users an equal chance to make a contribution to the blockchain, rewards are distributed in an equal fashion, which motivates user participation. The analysis of the proposed scheme is applied to the Bryllite consortium blockchain system (homed in Hong Kong), which is a new blockchain network developed for international game industries, gamers, and game events.

• Journal of the Korea Society of Computer and Information
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• v.23 no.12
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• pp.49-55
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• 2018

In this paper, we propose schemes of blockchain utilization in tactical communication environment. The military tactical communication environment has similar characteristics with blockchain network such as distributed architecture, decentralization, and the need for data integrity. A communication node constituting a tactical communication network is constituted by a system capable of configuring and connecting a network for each node. When a communication node, having such capabilities, is configured as a node of blockchain network, various functions could be performed. In this paper, we propose utilization schemes of authentication, integrity, record management, and privilege control based blockchain technology. Functions for authentication, integrity verification, and record management need to ensure the stored data and could track history. The requirement of function's characteristics are matched to blockchain which is storing data sequentially and difficult to hack data, so that it could perform functionally and sufficiently well. Functions for authority control should be able to assign different privileges according to the state of the requestor. Smart contract will function when certain conditions are satisfied and it will be able to perform its functions by using it. In this paper, we will look over functions and utilization schemes of blockchain technology which could reliably share and synchronize data in a tactical communication environment composed of distributed network environment.

• Journal of Intelligence and Information Systems
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• v.28 no.3
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• pp.209-235
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• 2022

Starting from 2010, blockchain technology, along with the development of artificial intelligence, has been in the spotlight as the latest technology to lead the 4th industrial revolution. Furthermore, previous research regarding blockchain's technological applications has been ongoing ever since. However, few studies have been examined the standards for classifying the blockchain economic ecosystem from a capital market perspective. Our study is classified into a collection of interviews of software developers, entrepreneurs, market participants and experts who use blockchain technology to utilize the blockchain economic ecosystem from a capital market perspective for investing in stocks, and case study methodologies of blockchain economic ecosystem according to application fields of blockchain technology. Additionally, as a way that can be used in connection with equity investment in the capital market, the blockchain economic ecosystem classification methodology was established to form an investment universe consisting of global blue-chip stocks. It also helped construct an intelligent portfolio through quantitative and qualitative analysis that are based on quant and artificial intelligence strategies and evaluate its performances. Lastly, it presented a successful investment strategy according to the growth of blockchain economic ecosystem. This study not only classifies and analyzes blockchain standardization as a blockchain economic ecosystem from a capital market, rather than a technical, point of view, but also constructs a portfolio that targets global blue-chip stocks while also developing strategies to achieve superior performances. This study provides insights that are fused with global equity investment from the perspectives of investment theory and the economy. Therefore, it has practical implications that can contribute to the development of capital markets.

• International Journal of Computer Science & Network Security
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• v.21 no.6
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• pp.119-126
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• 2021

The Internet of Things (IoT) applications are quickly spread in many fields. Blockchain methods (BC), defined as a distributed sharing mechanism, offer excellent support for IoT evolution. The BC provides a secure way for communication between IoT devices. However, the IoT environments are threatened by hacker attacks and malicious intrusions. The IoT applications security are faced with three challenges: intrusions and attacks detection, secure communication, and compressed storage information. This paper proposed a system based on double-blockchain to improve the communication transactions' safety and enhance the information compression method for the stored data. Information security is enhanced by using an Ellipse Curve Cryptography (ECC) considered in a double-blockchain case. The data compression is ensured by the Compressed Sensing (CS) method. The conducted experimentation reveals that the proposed method is more accurate in security and storage performance than previous related works.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2019.05a
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• pp.363-366
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• 2019

Blockchain technology is a new paradigm that will change existing business processes and has a significant impact on all industries, not just on specific industries. The medical industry also expects the impact of blockchain technology to be very significant. I think blockchain technology should be applied in the medical industry because the medical industry has the problem of information asymmetry due to the structural characteristics of a centralized system composed of hospitals. However, no one can be sure that the value of blockchain technology is absolutely right, and absolute trust should be avoided. Blockchain technology provides many limitations to the process in which blockchain technology is applied in the medical industry, as it can be seen as still immature in terms of security and scalability. Therefore, we analyze the application cases of blockchain technology in the medical field, current problems in the medical field, solutions and issues through Blockchain.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.29 no.2
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• pp.309-320
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• 2019

Blockchain has been developed as a key technology for many cryptocurrency systems such as Bitcoin. These days, blockchain technology attracts many people to adopt it to various fields beyond cryptocurrency systems for their information sharing and processing. However, with the development and increasing adoption of the blockchain, security incidents frequently happen in the blockchain systems due to their implementation flaws. In order to solve this problem, in this paper, we analyze the software vulnerabilities of Bitcoin and Ethereum, which are the most widely used blockchain applications in real world. For that purpose, we conduct an in-depth analysis of source code of them to detect software vulnerabilities, and examine an OS command injection attack exploiting the detected ones.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.31 no.3
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• pp.341-351
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• 2021

Recently, user-driven privacy control technology, such as distributed ID management, has been gaining attention. However, the existing blockchain-based access control studies have not provided a sufficient level of privacy control method to users. This paper proposes a method that combines permissioned blockchain technology and a recent privacy control standard. To allow users to participate in privacy control, a token-based user access control service that conforms to the UMA2 standard was applied to the blockchain dApp. By combining the blockchain and UMA2, the proposed method provides a user-centered privacy control function that the existing blockchain could not provide. In addition, we solved the problem of privacy, security, and availability of entities, which are the disadvantages of UMA2.

• Journal of Food Hygiene and Safety
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• v.34 no.5
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• pp.489-494
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• 2019

The appropriateness of introducing blockchain technology into food safety management systems was evaluated by conducting a survey of experts on the effectiveness and constraint evaluation indicators, and a portfolio analysis was conducted to set the priorities of blockchain application. The food safety management activities considered in this study were issuing documents on food import/export, food hygiene rating scheme, civil complaint management in the food sector, food- related certification, risk information management, and food traceability systems. The sectors that can be expected to be effective in the introduction of blockchain technology were food- related certification, food hygiene rating scheme, risk information management, and issuing documents on food import/export. In the case of food traceability systems and civil complaint management, the introduction of blockchain technology was not recommended due to ineffectiveness. From the evaluation of the constraints (e.g., technical limits, cost, legal amendment, personal information disclosure, timeliness, and ease of connection) to be overcome when introducing blockchain into food safety management, it was found that there are more than average constraints in all six areas. In particular, the food traceability system was evaluated to have the most constraints. Issuing documents on food import/export is very effective with the introduction of blockchain technology, but due to high cost and legal restrictions, it is necessary to improve the institutional system in order to introduce blockchain. Among the evaluation sectors, food- related certification, food hygiene rating scheme, and risk information management on foods were suitable for preferentially adopting blockchain technology since these areas might experience greatly improved reliability and transparency through the introduction of blockchain, with relatively low constraints.