DESIGNING A SECURE AND PRIVATE ELECTRONIC KNOW YOUR CUSTOMER (E-KYC) SYSTEM USING BLOCKCHAIN TECHNOLOGY

Abstract

Electronic Know Your Customer (E-KYC) is an essential process that is widely used to verify the identities of customers for various purposes.However, traditional E-KYC methods have several limitations, including security and privacy concerns.In this paper, we propose a secured and privacy-preserving E-KYC system using blockchain technology.The proposed system utilizes the security and immutability of the blockchain network to store customer information securely and ensure that it cannot be tampered with.The system also utilizes smart contracts to automate the E-KYC process while ensuring the privacy of customer information.Additionally, we propose the use of a zero-knowledge proof protocol to enable users to prove their identity without revealing their personal information.