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ZKP-Based Audit for Blockchain Systems Managing Central Bank Digital Currency

Date

Type

könyvfejezet

Language

en

Reading access rights:

Open Access

Rights Holder

Budapest University of Technology and Economics, Department of Measurement and Information Systems

Conference Date

2022.02.07-2022.02.08.

Conference Place

Budapest, Hungary

Conference Title

29th Minisymposium of the Department of Measurement and Information Systems

ISBN, e-ISBN

978-963-421-872-2

Container Title

Proceedings of the 29th Minisymposium

Department

Department of Measurement and Information Systems

Version

Kiadói változat

Faculty

Faculty of Electrical Engineering and Informatics

First Page

70

Subject (OSZKAR)

blockchain
audit
central bank digital currency
zero-knowledge proof

Gender

Konferenciacikk

University

Budapest University of Technology and Economics

OOC works

Abstract

Central Bank Digital Currency (CBDC) systems are being developed around the world and production solutions can be expected in the near future. Should a central bank allow handling of CBDC on a ledger that is not under its supervision (via platform bridging), it may wish to specify certain conformance requirements regarding the transactions. We propose a novel audit scheme based on Zero-Knowledge Proofs, which allows the operator of the bridged ledger to prove its compliance to such requirements, without revealing details about the transactions (such as the exact participants, the direction of the transfer, or the transferred value). This scheme aims to resolve the conflict between banks having to audit how CBDC is used on the bridged blockchain and consortia trying to keep sensitive data private.

Description

Keywords