A Financial data security sharing solution based on blockchain technology and proxy re-encryption technology

Abstract

For the difficulties in sharing sensitive data among financial institutions, hidden dangers in data security, and high financial risk control costs, the paper proposed a secure data sharing solution based on blockchain technology with proxy re-encryption technology. The solution consists of data sharing model and data sharing protocol. Firstly, using the distributed storage, decentralized management and non-tampering characteristics of the blockchain, we designed a data security sharing model. The model sets access control strategies on the blockchain platform, and uses the blockchain platform and distributed databases to store encrypted data together to prevent sensitive data from being tampered with and leaked. The data sharing protocol uses identity-based proxy re-encryption technology and distributed key generation technology. The protocol selects proxy nodes by the proof-of-stake algorithm, and realizes data sharing among users by re-encrypting sensitive data. The analysis of the solution discusses the correctness and security of the proposed scheme in terms of key generation.