IMPLEMENTATION OF CONSORTIUM BLOCKCHAIN FOR DECENTRALIZED KYC SHARING

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dc.contributor.authorATREYA, MUKUL
dc.contributor.authorACHARYA, SANDEEP
dc.contributor.authorCHAULAGAIN, SANGAM
dc.contributor.authorTIWARI, SAUJAN
dc.date.accessioned2023-07-30T06:31:58Z
dc.date.available2023-07-30T06:31:58Z
dc.date.issued2023-05
dc.descriptionKnow Your Customer (KYC) process that is followed by the Financial Institutions (FIs) at present is highly inefficient and inconvenient for both FIs and customers. This process requires verification of customer’s identity documents independently by the businesses leading to high costs as well as wastage of resourcesen_US
dc.description.abstractKnow Your Customer (KYC) process that is followed by the Financial Institutions (FIs) at present is highly inefficient and inconvenient for both FIs and customers. This process requires verification of customer’s identity documents independently by the businesses leading to high costs as well as wastage of resources. This project provides an efficient solution based on the Blockchain technology. The submission details of customers are collected only once for the verification process, irrespective of the number of financial institutions they register. The verified document is then shared with the organizations that require the information based on the customer’s approval. It leads to an efficient KYC process reducing costs and resources. This system uses private distributed file storage to store the identity documents and consortium blockchain technology is used to record and manage the KYC transactions ensuring security and transparency. The financial institutions act as the full nodes of the blockchain and the synchronization of blocks takes place through the P2P network.en_US
dc.identifier.urihttps://hdl.handle.net/20.500.14540/18805
dc.language.isoenen_US
dc.publisherI.O.E. Pulchowk Campusen_US
dc.subjectConsortium Blockchain,en_US
dc.subjectDistributed File Storage,en_US
dc.subjectP2P networken_US
dc.titleIMPLEMENTATION OF CONSORTIUM BLOCKCHAIN FOR DECENTRALIZED KYC SHARINGen_US
dc.typeReporten_US
local.academic.levelBacheloren_US
local.affiliatedinstitute.titlePulchowk Campusen_US
local.institute.titleInstitute of Engineeringen_US
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