BBM: A Blockchain-Based Model for Open Banking via Self-sovereign Identity

Chengzu DONG; Ziyuan WANG; Shiping CHEN; Yang XIANG

doi:10.1007/978-3-030-59638-5_5

BBM: A Blockchain-Based Model for Open Banking via Self-sovereign Identity

Chengzu DONG, Ziyuan WANG^*, Shiping CHEN, Yang XIANG

^*Corresponding author for this work

Research output: Book Chapters | Papers in Conference Proceedings › Conference paper (refereed) › Research › peer-review

19 Citations (Scopus)

Abstract

Open banking technology is an emerging data-sharing paradigm that can facilitate and inspire new businesses vie efficient data-sharing with banks, such as quick approval of loan applications and finding a better investment return. However, the majority of customers are reluctant to use the open banking service, because they feel unsafe to share data with third-party service providers. In this paper, we proposed (BBM) a blockchain-based self-sovereign identity system model for open banking. The model provides a reliable secured communication network between users and third-party service providers and enables users to control their own identities and data. Through a comparison with the existing related work, the superiority of the BBM model has been demonstrated and analysed.

Original language	English
Title of host publication	Blockchain : ICBC 2020 : 3rd International Conference, Held as Part of the Services Conference Federation, SCF 2020, Proceedings
Editors	Zhixiong CHEN, Laizhong CUI, Balaji PALANISAMY, Liang-Jie ZHANG
Publisher	Springer, Cham
Pages	61-75
Number of pages	15
ISBN (Print)	9783030596378
DOIs	https://doi.org/10.1007/978-3-030-59638-5_5
Publication status	Published - 2020
Externally published	Yes
Event	3rd International Conference on Blockchain, ICBC 2020, held as part of the Services Conference Federation, SCF 2020 - Honolulu, United States Duration: 18 Sept 2020 → 20 Sept 2020

Publication series

Name	Lecture Notes in Computer Science
Volume	12404
ISSN (Print)	0302-9743
ISSN (Electronic)	1611-3349

Conference

Conference	3rd International Conference on Blockchain, ICBC 2020, held as part of the Services Conference Federation, SCF 2020
Country/Territory	United States
City	Honolulu
Period	18/09/20 → 20/09/20

Bibliographical note

Publisher Copyright:
© 2020, Springer Nature Switzerland AG.

Keywords

Blockchain
Open banking
Self-sovereign identity

Access to Document

10.1007/978-3-030-59638-5_5

Cite this

DONG, C., WANG, Z., CHEN, S., & XIANG, Y. (2020). BBM: A Blockchain-Based Model for Open Banking via Self-sovereign Identity. In Z. CHEN, L. CUI, B. PALANISAMY, & L.-J. ZHANG (Eds.), Blockchain : ICBC 2020 : 3rd International Conference, Held as Part of the Services Conference Federation, SCF 2020, Proceedings (pp. 61-75). (Lecture Notes in Computer Science; Vol. 12404). Springer, Cham. https://doi.org/10.1007/978-3-030-59638-5_5

DONG, Chengzu ; WANG, Ziyuan ; CHEN, Shiping et al. / BBM: A Blockchain-Based Model for Open Banking via Self-sovereign Identity. Blockchain : ICBC 2020 : 3rd International Conference, Held as Part of the Services Conference Federation, SCF 2020, Proceedings. editor / Zhixiong CHEN ; Laizhong CUI ; Balaji PALANISAMY ; Liang-Jie ZHANG. Springer, Cham, 2020. pp. 61-75 (Lecture Notes in Computer Science).

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title = "BBM: A Blockchain-Based Model for Open Banking via Self-sovereign Identity",

abstract = "Open banking technology is an emerging data-sharing paradigm that can facilitate and inspire new businesses vie efficient data-sharing with banks, such as quick approval of loan applications and finding a better investment return. However, the majority of customers are reluctant to use the open banking service, because they feel unsafe to share data with third-party service providers. In this paper, we proposed (BBM) a blockchain-based self-sovereign identity system model for open banking. The model provides a reliable secured communication network between users and third-party service providers and enables users to control their own identities and data. Through a comparison with the existing related work, the superiority of the BBM model has been demonstrated and analysed.",

keywords = "Blockchain, Open banking, Self-sovereign identity",

author = "Chengzu DONG and Ziyuan WANG and Shiping CHEN and Yang XIANG",

note = "Publisher Copyright: {\textcopyright} 2020, Springer Nature Switzerland AG.; 3rd International Conference on Blockchain, ICBC 2020, held as part of the Services Conference Federation, SCF 2020 ; Conference date: 18-09-2020 Through 20-09-2020",

year = "2020",

doi = "10.1007/978-3-030-59638-5\_5",

language = "English",

isbn = "9783030596378",

series = "Lecture Notes in Computer Science",

publisher = "Springer, Cham",

pages = "61--75",

editor = "Zhixiong CHEN and Laizhong CUI and Balaji PALANISAMY and Liang-Jie ZHANG",

booktitle = "Blockchain : ICBC 2020 : 3rd International Conference, Held as Part of the Services Conference Federation, SCF 2020, Proceedings",

}

DONG, C, WANG, Z, CHEN, S & XIANG, Y 2020, BBM: A Blockchain-Based Model for Open Banking via Self-sovereign Identity. in Z CHEN, L CUI, B PALANISAMY & L-J ZHANG (eds), Blockchain : ICBC 2020 : 3rd International Conference, Held as Part of the Services Conference Federation, SCF 2020, Proceedings. Lecture Notes in Computer Science, vol. 12404, Springer, Cham, pp. 61-75, 3rd International Conference on Blockchain, ICBC 2020, held as part of the Services Conference Federation, SCF 2020, Honolulu, United States, 18/09/20. https://doi.org/10.1007/978-3-030-59638-5_5

BBM: A Blockchain-Based Model for Open Banking via Self-sovereign Identity. / DONG, Chengzu; WANG, Ziyuan; CHEN, Shiping et al.
Blockchain : ICBC 2020 : 3rd International Conference, Held as Part of the Services Conference Federation, SCF 2020, Proceedings. ed. / Zhixiong CHEN; Laizhong CUI; Balaji PALANISAMY; Liang-Jie ZHANG. Springer, Cham, 2020. p. 61-75 (Lecture Notes in Computer Science; Vol. 12404).

Research output: Book Chapters | Papers in Conference Proceedings › Conference paper (refereed) › Research › peer-review

TY - GEN

T1 - BBM: A Blockchain-Based Model for Open Banking via Self-sovereign Identity

AU - DONG, Chengzu

AU - WANG, Ziyuan

AU - CHEN, Shiping

AU - XIANG, Yang

PY - 2020

Y1 - 2020

N2 - Open banking technology is an emerging data-sharing paradigm that can facilitate and inspire new businesses vie efficient data-sharing with banks, such as quick approval of loan applications and finding a better investment return. However, the majority of customers are reluctant to use the open banking service, because they feel unsafe to share data with third-party service providers. In this paper, we proposed (BBM) a blockchain-based self-sovereign identity system model for open banking. The model provides a reliable secured communication network between users and third-party service providers and enables users to control their own identities and data. Through a comparison with the existing related work, the superiority of the BBM model has been demonstrated and analysed.

AB - Open banking technology is an emerging data-sharing paradigm that can facilitate and inspire new businesses vie efficient data-sharing with banks, such as quick approval of loan applications and finding a better investment return. However, the majority of customers are reluctant to use the open banking service, because they feel unsafe to share data with third-party service providers. In this paper, we proposed (BBM) a blockchain-based self-sovereign identity system model for open banking. The model provides a reliable secured communication network between users and third-party service providers and enables users to control their own identities and data. Through a comparison with the existing related work, the superiority of the BBM model has been demonstrated and analysed.

KW - Blockchain

KW - Open banking

KW - Self-sovereign identity

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DO - 10.1007/978-3-030-59638-5_5

M3 - Conference paper (refereed)

AN - SCOPUS:85092086282

SN - 9783030596378

T3 - Lecture Notes in Computer Science

SP - 61

EP - 75

BT - Blockchain : ICBC 2020 : 3rd International Conference, Held as Part of the Services Conference Federation, SCF 2020, Proceedings

A2 - CHEN, Zhixiong

A2 - CUI, Laizhong

A2 - PALANISAMY, Balaji

A2 - ZHANG, Liang-Jie

PB - Springer, Cham

T2 - 3rd International Conference on Blockchain, ICBC 2020, held as part of the Services Conference Federation, SCF 2020

Y2 - 18 September 2020 through 20 September 2020

ER -

DONG C, WANG Z, CHEN S, XIANG Y. BBM: A Blockchain-Based Model for Open Banking via Self-sovereign Identity. In CHEN Z, CUI L, PALANISAMY B, ZHANG LJ, editors, Blockchain : ICBC 2020 : 3rd International Conference, Held as Part of the Services Conference Federation, SCF 2020, Proceedings. Springer, Cham. 2020. p. 61-75. (Lecture Notes in Computer Science). doi: 10.1007/978-3-030-59638-5_5

BBM: A Blockchain-Based Model for Open Banking via Self-sovereign Identity

Abstract

Publication series

Conference

Bibliographical note

Keywords

Access to Document

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Cite this