Financial institution certificate tamper-proof system and method based on blockchain

Financial institution certificate tamper-proof system and method based on blockchain

Test

Short answer questions

Describe two problems existing in the traditional electronic certificate issuance system.

How does the blockchain-based certificate verification system solve the forgery problem existing in the traditional electronic certificate issuance system?

Explain the role of Bitcoin in the blockchain-based certificate verification system.

What is the meaning of "anchor condition" in the certificate registration process? Please provide at least two examples.

Explain how "specific node information" is generated and its role in the system.

Compare "specific node information (for registration)" and "specific node information (for comparison)" and explain the difference between them.

What is included in "specific transaction information"? Explain how it is used to verify the authenticity of the certificate.

Explain how the authentication management server verifies whether the certificate stored in the financial institution has been tampered with.

Describe the role of the client device in the certificate verification process.

Explain the two main advantages of the present invention over the traditional method.

Answer

There are two main problems with the traditional electronic certificate issuance system: First, they cannot provide an official seal or mark to verify the authenticity like traditional paper certificates. Second, they are vulnerable to forgery because electronic documents can be easily copied and changed.

The blockchain-based certificate verification system solves the problem of forgery by creating a tamper-proof record of certificate registration. When a certificate is first issued, its related information is added to the blockchain. This creates a permanent and publicly verifiable record that anyone can use to confirm the authenticity of the certificate.

Bitcoin (or other cryptocurrencies) acts as a tool in the blockchain-based certificate verification system to ensure the immutability and permanence of certificate information. The certificate information is not stored directly in the blockchain, but is associated with a Bitcoin transaction. Due to the nature of the blockchain, this transaction (and the certificate information) is immutable and can be verified by anyone with the transaction ID.

"Anchor conditions" are used to determine when a set of certificate information is added to the blockchain. This helps to improve the efficiency of the system by reducing the amount of data that needs to be added to the blockchain. Examples of anchor conditions include: reaching a predetermined number of certificates or passing a predetermined period of time.

"Specific node information" is generated by processing the certificate and client identification information using a one-way encryption algorithm. This creates a unique, irreversible code that represents the certificate. Specific node information is stored in the blockchain and is used to verify the authenticity of the certificate.

"Specific node information (for registration)" is generated when a certificate is first issued and added to the blockchain. **"Specific node information (for comparison)" is generated when the client or someone else wants to verify the authenticity of the certificate. **If the two specific node information match, the certificate is considered authentic.

"Specific transaction information" contains specific representative information (for registration), timestamp, and other relevant data. It is added to the blockchain as proof of certificate registration. The specific transaction ID acts as a key to this information, and anyone with this ID can use it to retrieve the specific transaction information from the blockchain.

The authentication management server periodically collects the specific node information of all issued certificates from financial institutions. It then compares this information with the specific representative information (for registration) stored in the blockchain. If any differences are found, it means that the certificate may have been tampered with.

The client device receives the certificate and the corresponding specific transaction ID from the financial institution. It then uses this information to request certificate verification from the authentication management server. The client device is also responsible for displaying the verification result to the user.

**Compared to traditional methods, the present invention has two main advantages: First, it reduces the costs associated with blockchain registration by registering only the specific representative information in the blockchain instead of the entire certificate. Second, it enhances security by periodically verifying the certificates stored in the financial institution, thereby preventing possible forgery.

Paper Title

Critically evaluate the advantages and disadvantages of using blockchain technology for certificate verification and explore potential challenges to its implementation.

Compare and contrast the blockchain-based certificate verification method proposed in this patent with other existing electronic certificate security methods such as digital signatures, timestamps, and watermarks.

Discuss the potential of blockchain technology to disrupt or transform the certificate issuance and verification process in the financial services industry and provide specific use cases.

Analyze the security and privacy issues associated with blockchain-based certificate verification systems and propose strategies to mitigate these potential risks.

Prospect future development trends and research directions for blockchain-based certificate verification systems, especially in terms of interoperability, scalability, and user adoption.

Glossary

Term Definitions Blockchain A growing distributed database consisting of blocks of records linked in chronological order and secured with cryptography. Bitcoin A cryptocurrency and payment system based on blockchain technology. Cryptocurrency A digital or virtual currency that uses cryptography as a security guarantee. Digital Wallet Software or hardware used to store cryptocurrency private keys. One-way Cryptographic Algorithm A function that can be computed in only one direction, making it infeasible to deduce the input value from its output. Hash algorithm A one-way function that converts input data of arbitrary length into output data of fixed length. Merkle tree A tree data structure in which each leaf node is the hash value of a data block, and each non-leaf node is the hash value of the hash values ​​of its child nodes. Anchoring The process of binding data to the blockchain to ensure its immutability. Authentication management server A server responsible for verifying the authenticity of a certificate. FI terminal A terminal device used by a financial institution to issue and manage certificates. Client device A device used by a customer to receive and verify certificates. Specific node information A unique code generated by processing the certificate and client identification information using a one-way encryption algorithm. Specific representative information A hash value generated by processing multiple specific node information using a specific tree algorithm such as a Merkle tree. Specific transaction information A blockchain transaction containing specific representative information (for registration), a timestamp, and other related data. Specific transaction ID A unique identifier used to retrieve specific transaction information from the blockchain. Verification related information is generated by the authentication management server to indicate whether the certificate is valid