Blockchain and ZTA as the model for increasing the protection and stability of financial systems and reliability of data is of great interest in the modern world. Regarding the security measures, ZTA supports permanent checking, offers stringent access control provisions regardless of location and offers enormous levels of security against intricate risks. This framework relies on an emerging technology known as DLT, with blockchain underlying the decentralized and irreversible records of the transactions to enhance the transparency and authenticity of the financial activities that are being executed. They also reduce the necessity of intervention by other parties and provide automated, self-executing, contractual provisions for managing and performing trades. Multi-party Computation (MPC) makes it easier to amalgamate several databases with resulting figures that can be meaningful results while the privacy aspect as implied in financial computations is protected. Zero-knowledge proofs (ZKPs) raise the standard of privacy as it makes confirmation of data possible without revealing the data itself, which leads to enhanced privacy and security of fiscal transactions. Tokenization works to turn substantial assets into tokens that reside on blockchain to safely perform exchange operations and provide financial markets with necessary liquidity. It is intended that this abstract provides a look at how these technologies complicate and align for enhanced security, operations, and the fulfilment of regulations in the financial systems for new and upcoming advancements in the digital economy. The conclusion drawn from this study reveals that improvement of 98% success in the consistency of financial system transaction through the use of blockchain, ZTA principles assist in improving 94% success in the control of access. Using smart contracts in conjunction with DLT has an average of 50 ms in transaction processing.

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Implementing Blockchain and Zero Trust Architecture for Enhancing Data Integrity and Access Control in Financial Systems

  • Jakranpally Karthik

摘要

Blockchain and ZTA as the model for increasing the protection and stability of financial systems and reliability of data is of great interest in the modern world. Regarding the security measures, ZTA supports permanent checking, offers stringent access control provisions regardless of location and offers enormous levels of security against intricate risks. This framework relies on an emerging technology known as DLT, with blockchain underlying the decentralized and irreversible records of the transactions to enhance the transparency and authenticity of the financial activities that are being executed. They also reduce the necessity of intervention by other parties and provide automated, self-executing, contractual provisions for managing and performing trades. Multi-party Computation (MPC) makes it easier to amalgamate several databases with resulting figures that can be meaningful results while the privacy aspect as implied in financial computations is protected. Zero-knowledge proofs (ZKPs) raise the standard of privacy as it makes confirmation of data possible without revealing the data itself, which leads to enhanced privacy and security of fiscal transactions. Tokenization works to turn substantial assets into tokens that reside on blockchain to safely perform exchange operations and provide financial markets with necessary liquidity. It is intended that this abstract provides a look at how these technologies complicate and align for enhanced security, operations, and the fulfilment of regulations in the financial systems for new and upcoming advancements in the digital economy. The conclusion drawn from this study reveals that improvement of 98% success in the consistency of financial system transaction through the use of blockchain, ZTA principles assist in improving 94% success in the control of access. Using smart contracts in conjunction with DLT has an average of 50 ms in transaction processing.