@inproceedings{9c7ee4d0ff9e4ee2ac73f0eff65e7633,
title = "Short Paper: Privacy Preserving Decentralized Netting",
abstract = "This paper proposes a secure decentralized protocol that a consortium of local banks can use to complete a netting process in a privacy-preserving fashion without relying on a single central bank. To do so, it makes use of two key ingredients - zero-knowledge proofs and secure multiparty computation (MPC). We use these two primitives to construct a multi-phase protocol and prove its security in the UC framework. We also study the feasibility of using Linear programming based solution to find optimal solution to the netting problem in gridlock scenarios. To do so, we implemented a proof of concept of our proposed protocol using MP-SPDZ [Kel20] (a framework for prototyping MPC applications) and analyzed the costs involved. Compared to prior work [Cao+20], we manage to achieve 40–50% higher percentage settlement of total transaction.",
keywords = "Privacy-preserving Netting, Secure multiparty computation, Zero-knowledge proofs",
author = "Amit Agarwal and {De Caro}, Angelo and Andrew Miller",
note = "Publisher Copyright: {\textcopyright} 2023, International Financial Cryptography Association.; 26th International Conference on Financial Cryptography and Data Security, FC 2022 ; Conference date: 02-05-2022 Through 06-05-2022",
year = "2023",
doi = "10.1007/978-3-031-32415-4_19",
language = "English (US)",
isbn = "9783031324147",
series = "Lecture Notes in Computer Science",
publisher = "Springer",
pages = "280--298",
editor = "Shin{\textquoteright}ichiro Matsuo and Lewis Gudgeon and {Perez Hernandez}, Daniel and Sam Werner and Ariah Klages-Mundt and Thomas Haines and Aleksander Essex and Andrea Bracciali and Massimiliano Sala",
booktitle = "Financial Cryptography and Data Security. FC 2022 International Workshops - CoDecFin, DeFi, Voting, WTSC, Revised Selected Papers",
address = "Germany",
}