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Anonymization of Transactions in Distributed Ledger Technologies

Authors:
Robert Werner
Sebastian Lawrenz
Andreas Rausch

Keywords: Distributed Ledger; Blockchain; Privacy; Blockchainanalysis; Cryptocurrency

Abstract:
Increasing acceptance of transparent cryptocurrencies is leading to more and more publicly traceable financial transactions. This is a problem for civil society due to a lack of privacy, as well as for companies because of public financial data. It could even endanger entire states due to a transparent economy. To solve this problem, private, decentralized currencies have been created, but these prevent prosecution and thus undermine the accountability of citizens. In this paper, existing centralized techniques for ensuring privacy in distributed ledger technologies are presented and evaluated. On this basis, a software is presented which, through its semi-decentralized architecture, guarantees privacy for citizens and the economy when transacting on distributed ledger technologies without preventing state prosecution.

Pages: 68 to 75

Copyright: Copyright (c) IARIA, 2020

Publication date: April 26, 2020

Published in: conference

ISSN: 2308-4146

ISBN: 978-1-61208-781-8

Location: Nice, France

Dates: from October 25, 2020 to October 29, 2020