• Journal of Internet Computing and Services
    ISSN 2287 - 1136(Online) / ISSN 1598 - 0170 (Print)
    http://jics.or.kr/

A Study on the Design of Smart Contracts mechanism based on the Blockchain for anti-money laundering


Heejung Kang, Hye Ri Kim, Seng-phil Hong, Journal of Internet Computing and Services, Vol. 19, No. 5, pp. 1-11, Oct. 2018
10.7472/jksii.2018.19.5.1, Full Text:
Keywords: Blockchain, Smart Contract, AML, Security

Abstract

The Blockchain is a technique that prevents data from being manipulated and guarantees the integrity and reliability of the data by all participants in the network jointly owning and validating the data. Since the Blockchain characterized by security, scalability and transparency, it is used in a variety of fields including logistics, distribution, IoT and healthcare, including remittance. In particular, there is a growing interest in smart contract that can create different forms of contracts and automate implementation based on Blockchain. Smart Contract can be used to pre-programme contracts and are implemented immediately when conditions are met. As a result, digital data can be more reliable. In this paper, we are conducting a study on the smart contract design as a way to solve such problems as illegal misuse of funds on virtual currency, which has become an issue recently. Through this process, we applied the customer identification and money laundering prevention process using smart contract, and then check the possibility of preventing money laundering and propose the ASM (AML SmartContract Mechant) design.


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Cite this article
[APA Style]
Heejung Kang, Hye Ri Kim, & Seng-phil Hong (2018). A Study on the Design of Smart Contracts mechanism based on the Blockchain for anti-money laundering. Journal of Internet Computing and Services, 19(5), 1-11. DOI: 10.7472/jksii.2018.19.5.1.

[IEEE Style]
H. Kang, H. R. Kim and S. Hong, "A Study on the Design of Smart Contracts mechanism based on the Blockchain for anti-money laundering," Journal of Internet Computing and Services, vol. 19, no. 5, pp. 1-11, 2018. DOI: 10.7472/jksii.2018.19.5.1.

[ACM Style]
Heejung Kang, Hye Ri Kim, and Seng-phil Hong. 2018. A Study on the Design of Smart Contracts mechanism based on the Blockchain for anti-money laundering. Journal of Internet Computing and Services, 19, 5, (2018), 1-11. DOI: 10.7472/jksii.2018.19.5.1.