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ISSN 2063-5346
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Blockchain Enabled E-Transaction Security Services Using ECDSA

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Prithiv Sivakumar, Navaneetha Krishnan Sreethar, Nithin Raj R
» doi: 10.48047/ecb/2023.12.si7.147

Abstract

With the changes over time, the current social security system is facing challenges in meeting people's needs for transparency, security, and distributed services. Blockchain technology has been identified as a possible solution to these challenges due to its ability to provide a transparent, tamper-proof, and traceable system that operates through consensus and trust. The proposed solution of a blockchain-based consortium with ECDSA is a promising approach to establishing and improving social security information. This solution addresses the issues of centralization and single control that are seen in the present social security system. The multi-party data sharing and trust mechanism provided by the blockchain consortium enables the blockchain integration between storage systems and IPFS, which facilitates the security of approval documents, photos, and videos related to the accessibility and traceability handling of social security services. By applying this solution to three important social insurance services - applying for social insurance, applying for social benefits, and social benefits online - the blockchain-based consortium can improve the accessibility, security, and traceability of social security services. This approach represents a significant step forward in creating a more efficient and effective social security system that meets people's needs for transparency, security, and distributed services.

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