Blockchain side implementation of Pure Wallet (PW): An offline transaction architecture

초록

This article proposes an electronic payment architecture named Pure Wallet (PW), which extends the concept of Blockchain cryptocurrency for offline transactions. The process is divided into three steps. The first step requires the use of Internet connection, to convert cryptocurrency into a token at the token manager. The token manager initiates a transaction that requires the information in the token to complete. Then offline transactions step is performed between electronic devices like mobile phones through a secure Near Field Communication (NFC) using the token in senders device. The financial value in the form of a token is encrypted by the sender and sent to the receiver's device via NFC. In the third step, the receiver converts the received token into cryptocurrency in the presence of Internet connection by sending the information required to complete the transaction to the token manager. The goal is to propose an electronic payment architecture utilizing Blockchain, which will enable financial transactions without instant connection to the Internet. The Blockchain implementation in this work utilizes smart contract in Ethereum Blockchain. The result shows a successful transfer of value without instant Internet connection. The open issues related to Blockchain in offline transactions are listed for further research works. (C) 2021 The Korean Institute of Communications and Information Sciences (KICS). Publishing services by Elsevier B.V.

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