DecReg: A Framework for Preventing Double-Financing using Blockchain Technology

Hidde Lycklama à Nijeholt, Zekeriya Erkin, Joris Oudejans

Research output: Chapter in Book/Conference proceedings/Edited volumeConference contributionScientificpeer-review

9 Citations (Scopus)

Abstract

Factoring is an important financial instrument for SMEs to solve liquidity problems, where the invoice is cashed to avoid late buyer payments. Unfortunately, this business model is risky as it relies on human interaction and involved actors (factors in particular) suffer from information asymmetry. One of the risks involved is 'double-financing': the event that an SME extracts funds from multiple factors. To reduce this asymmetry and increase the scalability of this important instrument, we propose a framework, DecReg, based on blockchain technology. We provide the protocols designed for this framework and present performance analysis. This framework will be deployed in practice as of February 2017 in the Netherlands.
Original languageEnglish
Title of host publicationBCC'17 Proceedings of the ACM Workshop on Blockchain, Cryptocurrencies and Contracts
Place of PublicationNew York
PublisherAssociation for Computing Machinery (ACM)
Pages29-34
Number of pages6
ISBN (Electronic)978-1-4503-4974-1
DOIs
Publication statusPublished - 2017
EventBCC'17 The ACM Workshop on Blockchain, Cryptocurrencies and Contracts - Abu Dhabi, United Arab Emirates
Duration: 2 Apr 20172 Apr 2017

Conference

ConferenceBCC'17 The ACM Workshop on Blockchain, Cryptocurrencies and Contracts
CountryUnited Arab Emirates
CityAbu Dhabi
Period2/04/172/04/17

Keywords

  • Blockchain
  • Distributed trust
  • Double Financing

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