Paper 2016/1167

Mobile Commerce: Secure Multi-party Computation & Financial Cryptography

Sumit Chakraborty

Abstract

Abstract: The basic objective of this work is to construct an efficient and secure mechanism for mobile commerce applying the concept of financial cryptography and secure multi-party computation. The mechanism (MCM) is defined by various types of elements: a group of agents or players, actions, a finite set of inputs of each agent, a finite set of outcomes as defined by output function, a set of objective functions and constraints, payment function, a strategy profile, dominant strategy and revelation principle. The mechanism adopts a set of intelligent moves as dominant strategies: (a) flexible use of hybrid payment system which supports cash, e-payment and m-payment, (b) secure multi-party computation to ensure information security and privacy and (c) call intelligent analytics to assess and mitigate possible threats on m-commerce service. The mechanism supports three different types of transaction processing protocols (P1, P2 and P3) and calls a cryptographic protocol (Pc). The cryptographic protocol performs a set of functions sequentially such as authentication, authorization, correct identification, privacy verification and audit of correctness, fairness, rationality, accountability and transparency of secure multi-party computation on each m-transaction. The basic building blocks of the cryptographic protocol are signcryption, proofs of knowledge, commitments and secret sharing. This work also presents the complexity analysis of the mechanism in terms of computational cost, communication cost, security and business intelligence. Keywords: Secure multi-party computation, Financial cryptography, Mobile commerce mechanism, Threat analytics, Digital economy