Details

Autor(en) / Beteiligte

• Schlatt, Vincent
• Sedlmeir, Johannes
• Feulner, Simon
• Urbach, Nils

Titel

Designing a Framework for Digital KYC Processes Built on Blockchain-Based Self-Sovereign Identity

Ist Teil von

• Information & management, 2022-11, Vol.59 (7), p.103553, Article 103553

Ort / Verlag

Elsevier B.V

Erscheinungsjahr

2022

Quelle

Alma/SFX Local Collection

Beschreibungen/Notizen

• •SSI can make KYC processes completely digital, efficient, compliant, and convenient.•No personal data need to be stored on a blockchain.•SSI inhibits data silos, lock-in effects, and aggregation of market power.•Blockchains role for SSI should be more restricted than is often proposed. [Display omitted] Know your customer (KYC) processes place a great burden on banks, because they are costly, inefficient, and inconvenient for customers. While blockchain technology is often mentioned as a potential solution, it is not clear how to use the technology’s advantages without violating data protection regulations and customer privacy. We demonstrate how blockchain-based self-sovereign identity (SSI) can solve the challenges of KYC. We follow a rigorous design science research approach to create a framework that utilizes SSI in the KYC process, deriving nascent design principles that theorize on blockchain’s role for SSI.