BlockchaIn device Metric ENhanced Security (IMmENSe)

The proposal will develop novel authentication and authorisation mechanisms for networked financial data using distributed ledger (blockchain) technology. Recent progress in blockchains suggests that one of the interesting potential applications of the technology is in “disintermediation protocols”, which remove the need of having trusted third parties in a collaborative environment involving many (potentially anonymous) stakeholders. A recent UK Government report also suggests "the technology offers the potential, according to the circumstances, for individual consumers to control access to personal records and to know who has accessed them." The aim of the proposal is to facilitate secure access and traceability to confidential financial records and messages focussing on the governance and assurance of access to records. A significance focus will be on removing the need to have a trusted authority in order to lower the costs associated with the operation of the system, which will allow for a strong business model for the deployment of the system. The work will focus on maintaining network integrity in managing distributed financial transactions and messaging (fintech sector).