Secure Multi-Party Computing for Financial Sector Based on Blockchain

Abstract

Data dominates in finance, which is significant. The financial industry needs a cross-institutional data circulation mechanism to promote development, but data sharing faces challenges such as low credibility, low sharing efficiency, and privacy security issues, and there are still data islands and security sharing problems. Combining the characteristics of blockchain and privacy computing technology, this paper designs a secure and efficient multi-party computing model based on blockchain to find the balance between privacy and practicality of financial data and solve the tense situation in the financial industry to the greatest extent. Considering the limitations of blockchain storage and computing power, the solution in this paper is to introduce IPFS to combine on-chain storage data with on-chain indexing as a storage environment, and to introduce cloud networks as computing centers.