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Security Model for a Central Bank in Latin America using Blockchain

  • Richard Romero
  • , Raul A. Sanchez-Ancajima
  • , Javier A. López-Cespedes
  • , Miguel A. Saavedra-López
  • , Segundo Juan Sanchez Tarrillo
  • , Ronald M. Hernández

Research output: Contribution to journalOriginal Articlepeer-review

8 Scopus citations

Abstract

Banking institutions in Latin America are the target of increasingly sophisticated and advanced cyber-attacks and threats, which increase every year and leave substantial economic losses, due to the high level of global interconnection and digitization of their operations. The objective of this work is to design a model to guarantee information security in a Central Bank in Latin America using Blockchain technology. Exploratory research, observation and inductive and deductive methods are used to propose Blockchain solutions in a Central Bank. The results are a model for secure transactions in Blockchain, Smart Contract functions and a data management process. It was concluded that the security model for a central bank provides high level of information management and storage of transactions in a secure and immutable way.

Original languageAmerican English
Pages (from-to)117-127
Number of pages11
JournalJournal of Internet Services and Information Security
Volume13
Issue number2
DOIs
StateIndexed - 1 May 2023

Bibliographical note

Publisher Copyright:
© 2023, Innovative Information Science and Technology Research Group. All rights reserved.

Keywords

  • Blockchain
  • Central Bank
  • Ethereum
  • Hyperledger
  • Latin America

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