Development of a web service for managing the storing of encrypted data in a public distributed ledger

Abstract

Distributed Ledger Technology (DLT) has become one of the soughtafter technologies to integrate in businesses in order to leverage its potential and create new competitive advantages. However, the number of different architectures, concerns about the technical requirements and energy consumption, and the gap between the existing needs for storing private data seamlessly and the complex interface between this technology and the users make this technology difficult to be implemented. This project aims to provide a solution which aids in the integration of this technology by developing a web service dedicated to this purpose. Firstly, an existing public ledger is selected based on essential requirements. Then, new encrypted data structures are designed to facilitate the upload of data to the public ledger and protect it at the same time. Finally, two use cases are developed and presented to showcase its potential, and the overall performance and other potential impacts of the system are assessed.