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BitFlow: Enabling Real‐time Cash‐flow Evaluations through Blockchain
DTU Compute, Technical University of Denmark, Kongens Lyngby, Denmark.
Örebro University, School of Science and Technology. (Centre for Applied Autonomous Sensor Systems (AASS), Machine Perception & Interaction)ORCID iD: 0000-0001-9293-7711
DTU Compute, Technical University of Denmark, Kongens Lyngby, Denmark.
Örebro University, School of Science and Technology. DTU Compute, Technical University of Denmark, Kongens Lyngby, Denmark. (Centre for Applied Autonomous Sensor Systems (AASS))ORCID iD: 0000-0001-9575-2990
2020 (English)In: Concurrency and Computation, ISSN 1532-0626, E-ISSN 1532-0634, Vol. 32, no 12, article id e5333Article in journal (Refereed) Published
Abstract [en]

Disbursement registration has always been a cumbersome, opaque, and inefficient process, up to the point that most businesses perform cash-flow evaluations only on a quarterly basis. We believe that automatic cash-flow evaluations can actively mitigate these issues. In this paper, we presentBitFlow, ablockchain-based architecture thatprovides complete cash-flow transparency and diminishes the probability of undetected frauds through the BitKrone, a non-volatile cryptocurrency that maps to the Danish Krone (DKK). We show that confidentiality can be effectively achieved on a permissionless blockchain using Zero-Knowledge proofs, ensuring verifiable transfers and automatic evaluations. Furthermore, we discuss several experiments to evaluate our proposal, in particular, the impact that confidential transactions have on the whole system, in terms of responsiveness and from an economical expenditure perspective.

Place, publisher, year, edition, pages
John Wiley & Sons, 2020. Vol. 32, no 12, article id e5333
Keywords [en]
BitFlow, blockchain, bulletproofs, cash-flow, Ethereum, zero-knowledge
National Category
Computer Sciences
Identifiers
URN: urn:nbn:se:oru:diva-78929DOI: 10.1002/cpe.5333ISI: 000529224600008Scopus ID: 2-s2.0-85066913820OAI: oai:DiVA.org:oru-78929DiVA, id: diva2:1384068
Available from: 2020-01-09 Created: 2020-01-09 Last updated: 2020-05-18Bibliographically approved

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Giaretta, AlbertoDragoni, Nicola

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