Nudging data privacy management of open banking based on blockchain

Shenglan MA, Chaonian GUO, Hao WANG, Hong XIAO, Botong XU*, Hong Ning DAI, Shuhan CHENG, Ruihua YI, Tongsen WANG

*Corresponding author for this work

Research output: Book Chapters | Papers in Conference ProceedingsConference paper (refereed)Researchpeer-review

4 Citations (Scopus)

Abstract

Open banking brings both the opportunities and challenges to banks all over the world. Due to the different economic development levels of each country and the gaps among financial environment maturity, all countries have different strategies and regulations towards the privacy protection of data in financial scenes, such as the General Data Protection Regulation (GDPR) by European Union (EU). A blockchain as a continuously growing list of records managed by a peer-to-peer network is widely used in various application scenarios, and can protect the privacy of financial data. However, financial blockchain still poses some problems that cannot fully meet the data protection needs. In order to address the existing problems, this paper proposes a new blockchain-based data privacy management framework. The framework consists of three components: a data privacy classification method according to the characteristics of financial data and a new collaborative-filtering-based model and a confirmation data disclosure scheme for customer strategies based on the Nudge Theory. We implement a prototype and propose a set of algorithms for this management framework.

Original languageEnglish
Title of host publicationProceedings - 2018 15th International Symposium on Pervasive Systems, Algorithms and Networks, I-SPAN 2018
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages72-79
Number of pages8
ISBN (Electronic)9781538685341
DOIs
Publication statusPublished - 7 Feb 2019
Externally publishedYes
Event15th International Symposium on Pervasive Systems, Algorithms and Networks, I-SPAN 2018 - Yichang, China
Duration: 16 Oct 201818 Oct 2018

Publication series

NameProceedings - 2018 15th International Symposium on Pervasive Systems, Algorithms and Networks, I-SPAN 2018

Conference

Conference15th International Symposium on Pervasive Systems, Algorithms and Networks, I-SPAN 2018
Country/TerritoryChina
CityYichang
Period16/10/1818/10/18

Bibliographical note

Funding Information:
VI. ACKNOWLEDGEMENT This work is partially supported by the Fujian Fumin Foundation; National Natural Science Foundation of China(NFSC) (No.61672170); NSFC-Guangdong Joint Fund (No.U1401251); the Science and Technology Planning Project of Guangdong Province (No.2015B090923004 and No. 2017A050501035); Science and Technology Program of Guangzhou (No. 201807010058).

Publisher Copyright:
© 2018 IEEE.

Keywords

  • Blockchain
  • Data privacy management
  • Nudge Theory
  • Open banking

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