Secure Sharing of Identity (KYC)
DOI:
https://doi.org/10.69996/fmep.2025021Keywords:
Blockchain, KYC (Know Your Customer), Identity Management, Data Privacy, Smart Contracts, Decentralized StorageAbstract
In the digital era, identity verification processes such as Know Your Customer (KYC) are critical for ensuring the legitimacy of users in financial and governmental systems. However, conventional KYC mechanisms suffer from centralized storage models, making sensitive user data vulnerable to breaches, unauthorized access, and misuse. This paper presents a blockchain-based solution for secure KYC data sharing, aiming to enhance privacy, transparency, and data control for users. Leveraging the decentralized and immutable nature of blockchain technology, the proposed system enables secure storage, retrieval, and access control of user identity data through smart contracts. The model integrates a notification mechanism that alerts users via email whenever their data is accessed, thereby reinforcing transparency and accountability. Through a series of simulations and user interface walkthroughs, the effectiveness of the model is demonstrated in enabling only authorized institutions to access KYC data while safeguarding it against tampering or leakage.
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