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Block chain cross-border payment system development, third-party payment system development

Compared with the traditional cross-border payment system, the security of cross-border payment based on blockchain has higher requirements in business compliance, technical security and so on. Development of block chain payment system in Yuanzhong-Rui

From the perspective of business compliance, blockchain should pay more attention to data-level security than traditional technologies. As the data on the chain may involve multi-party sharing, it is recommended to consult legal professionals on business design if the data itself involves privacy. In addition, there are regulatory issues, financial technology has also brought new regulatory challenges, in the design of business models and business models, we need to pay attention not to step on the red line to ensure the sustainable development of the business. In view of the cross-regional and high-risk nature of cross-border remittance business, according to the different legal and regulatory requirements of different countries, we should focus on KYC (know your customers), anti-money laundering, anti-terrorist financing and other aspects to consider and avoid compliance risks.

From the point of view of technical security, we should focus on whether the blockchain-based system is in line with the financial information system construction regulations of our country and the corresponding countries. For example, the people's Bank of China has issued a series of insurance standards for the financial industry. From the security technology (physical security, network security, host security, application security and data security and backup recovery), security management (security management system, security management organization, personnel security management, system construction management and system operation and maintenance management). The specific requirements for different levels of information systems are described in detail. Emphasis should be placed on identity authentication, access control, encryption system and privacy, cryptographic algorithm, network anti-attack ability and so on.

First of all, the blockchain should determine the identity of visitors and determine the access and use of legitimate users. Secondly, the data that can be accessed should be different and easy to configure for the functions that can be used by different types and different individuals. This requires the use of appropriate symmetric and asymmetric encryption systems, zero-knowledge proof, multi-party secure computing and other cryptographic means to ensure data security. In the choice of algorithm, it must meet the relevant legal requirements, and optimize the national secret algorithm.

In addition, because the blockchain involves multi-party cooperation, on the basis of using Byzantine fault tolerance, internal evil and denial of service attacks should still be taken into account. The underlying blockchain technology should guard against a variety of active and passive attacks.

Block chain cross-border payment system development, third-party payment system development

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