Know-your-customer process for the blockchain

Abstract

With the rise of interest in blockchain technology and its many applications, there is much research being conducted on the issues of scalability for the various blockchains. As the number of globally available blockchains grows steadily, so does the pressing need for better blockchain interoperability to reduce the fragmentation of the market. One such solution is cross-chain technology, which allows blockchains to interact and make transactions with one another. This can increase transaction throughput through the distribution of tasks across multiple platforms. However, cross-chain technology comes with its share of challenges as well. It is incredibly difficult to develop due to the various consensus mechanisms across the different blockchains. This is evident from the lack of uniformity across cross-chain solutions, and the lack of an industry standard for the implementation of the technology. Therefore, using cross-chain technology, this paper will implement a dApp for a Know-Your-Customer solution, where users can store, retrieve and transmit digital assets across the Fantom and Moonbeam networks, and seek to contribute to the existing pool of cross-chain research.