IB2P: An image-based privacy-preserving blockchain model for financial services

Abstract

Decentralized finance has grown up dramatically in recent years, covering various cryptocurrency or blockchain financial applications. With the support of blockchain technology, people have shown great enthusiasm and trust in decentralized financial services. However, due to sharing personal information with other institutions, users' privacy and data security will be difficult to be guaranteed. Moreover, various encryption methods such as homomorphic encryption focus on protecting the data stored on the blockchain, but few enhance client-side data security. Motivated by this condition, we develop an image-based privacy-preserving scheme to store users' financial service data as images. Transferring the numerical service data into images ensures that users can comprehend the content and prevent data recognized by the machine. We evaluate our scheme through conducting numerical evaluations from image attack effectiveness and smart contract functions' efficiency analysis.