Date of Publication :17th January 2024

Abstract: The research design adopts a comprehensive approach, focusing on the seamless integration of blockchain technology and cloud computing to optimize KYC procedures. The methodology encompasses the implementation of advanced encryption algorithms within the cloud infrastructure to fortify data security. This ensures that sensitive customer information remains confidential during storage and transmission, safeguarding against potential security threats. Smart contracts streamline the KYC procedure, reducing manual efforts and increasing efficiency. One pivotal aspect of the research involves leveraging blockchain technology to enhance the reliability of KYC procedures. By employing the decentralized and immutable nature of the blockchain, the study aims to establish a trustworthy and tamper-proof record of identity verification activities. The study indicates that the integration of blockchain and cloud computing in KYC processes can significantly improve data security by implementing encryption algorithms. This also contributes to the integrity of KYC data but also addresses concerns related to data manipulation and unauthorized access. The cloud's scalable infrastructure and blockchain's automation streamline procedures, reducing time consumption and enhancing user-friendliness for a more efficient KYC experience. The anticipated outcomes of this research include a robust framework that combines the security benefits of cloud computing with the reliability and efficiency afforded by blockchain technology. The findings hold implications for industries reliant on stringent identity verification processes, such as finance and healthcare. By contributing to the evolving landscape of secure digital interactions, this research seeks to foster advancements in KYC methodologies and establish a foundation for future developments in the broader context of identity management.

Reference :