Blockchain-based Anonymous P2P Trading System
Authors/Creators
- 1. Communication Systems Group CSG, Department of Informatics IfI, University of Zurich UZH
Description
Data leaks and privacy scandals have been a growing concern of the last decade. Most traditional, i.e., centralized, online platforms require users to register with their personal data, thereby, potentially exposing the user’s identity and data to be used for unintended purposes. This work proposes TradeMap as an integrated architecture, designing and enabling an online end-to-end (e2e) trading market place, while supporting anonymous management features. TradeMap addresses the Swiss Financial Market Supervisory Authority (FINMA) regulations by designing a FINMA-complaint Know Your Customer (KYC) platform. Additionally, TradeMap is based on blockchains and employs Ethereum Smart Contracts (SC). Thus, trust and anonymity between the market place and KYC system relies on zero knowledge proof-based SCs used for user identification processes. With this management approach proposed, the user authentication is only verified within the KYC platform, providing a legally valid and fully anonymous online trading platform.