The global financial landscape is experiencing significant transformation driven by technological advancements and evolving market dynamics. Moreover, blockchain technology has become a pivotal platform with widespread applications, especially in finance. Cross-border payments have emerged as a key area of interest, with blockchain offering inherent benefits such as enhanced security, transparency, and efficiency compared to traditional banking systems. This paper presents a novel framework leveraging blockchain technology and smart contracts to emulate cross-border payments, ensuring interoperability and compliance with international standards such as ISO20022. Key contributions of this paper include a novel prototype framework for implementing smart contracts and web clients for streamlined transactions and a mechanism to translate ISO20022 standard messages. Our framework can provide a practical solution for secure, efficient, and transparent cross-border transactions, contributing to the ongoing evolution of global finance and the emerging landscape of decentralized finance.
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Zero-Knowledge Contingent Payments Revisited: Attacks and Payments for Services
- Award ID(s):
- 1651938
- PAR ID:
- 10055717
- Date Published:
- Journal Name:
- 2017 ACM SIGSAC Conference on Computer and Communications Security
- Page Range / eLocation ID:
- 229 to 243
- Format(s):
- Medium: X
- Sponsoring Org:
- National Science Foundation
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