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Distributed ledger technology in the capital market: Shared versus private information in a permissioned blockchain
Uppsala University, Disciplinary Domain of Science and Technology, Mathematics and Computer Science, Department of Information Technology, Division of Computing Science.
2017 (English)Independent thesis Advanced level (professional degree), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

This master thesis explores how blockchain technologies can be utilized within the financial sector with focus on how to store both private and public information on the blockchain. The capital market is looking into ways of cutting down administrative work through streamlining the financial process by using blockchain technologies. Public key encryption together with hash functions and a consensus mechanism make up the basis for creating a shared trustless database system. The thesis was conducted by extensive research concerning cryptographic topics, and a literature study was made to compare existing solutions. This was done in order to come up with a new design which suggests how to utilize blockchain technologies in order to create private transactions. The design solves issues regarding key management and how to handle both private and public information on the blockchain. The proposed design is an extension of Visigon's existing permissioned blockchain, and it introduces different roles within the peer to peer network as well as a concept of having regulating nodes that together with the involved bank's nodes handle the process of private transactions. Private transactions are encrypted by using symmetric keys and thereafter recorded on the blockchain. In conclusion blockchain technology might not be the most suitable database system for banks to keep transactions private. Future solutions should consider the best attributes of blockchain technologies and create a new system with the single purpose of being a tool for the financial market.

Place, publisher, year, edition, pages
2017. , 55 p.
Series
UPTEC F, ISSN 1401-5757 ; 17041
Keyword [en]
Blockchain, Blockchain technology Distributed ledger, Capital market, Private transaction, Cryptography, Bitcoin, Ethereum, Quorum, Corda, Ripple
National Category
Computer Science
Identifiers
URN: urn:nbn:se:uu:diva-326341OAI: oai:DiVA.org:uu-326341DiVA: diva2:1120587
External cooperation
Visigon
Subject / course
Computer Systems Sciences
Educational program
Master Programme in Engineering Physics
Supervisors
Examiners
Available from: 2017-07-06 Created: 2017-07-06 Last updated: 2017-07-06Bibliographically approved

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CiteExportLink to record
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  • apa
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