Blockchain-Enabled Distributed Payment Card Tokenization System
Document Type
Conference Article
Publication Title
Indiscon 2024 5th IEEE India Council International Subsections Conference Science Technology and Society
Abstract
Payment card tokenization is a process that replaces sensitive card (Credit/Debit) information with a unique identifier or token. This token is used for transaction processing, reducing the risk of unauthorized access and fraud. However, the current landscape is dominated by a few centralized entities, such as Visa, Mastercard, functioning as Token Service Providers (TSP). To address this, we propose a blockchain-powered decentralized tokenization system where a smart contract generates tokens based on predefined criteria. Decentralization ensures the system's robustness against attacks and offers transparent audit trails. Our prototype is built on the Ethereum platform, with smart contracts deployed on the Sepolia test network, allowing for performance evaluation and validation of the system's efficacy.
DOI
10.1109/INDISCON62179.2024.10744200
Publication Date
1-1-2024
Recommended Citation
Das, Debendranath and Das, Atosi, "Blockchain-Enabled Distributed Payment Card Tokenization System" (2024). Conference Articles. 836.
https://digitalcommons.isical.ac.in/conf-articles/836