DEVELOPMENT OF DECENTRALIZED ELECTRONIC PAYMENT SYSTEM USING BLOCKCHAIN

• Main Author: Gery Wahyu Nugraha, Putu
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/48511
• Institution: Institut Teknologi Bandung

In Indonesia, there exist quite a lot of electronic payment provider. But, the majority of electronic provider today still use a centralized architecture. The usage of centralized architecture produces a problem, such as single point of failure. To solve it, a decentralized electronic payment system made of blockchain will be used. With blockchain architecture, an electronic payment system can be run by more than one entity. Each entity runs one or more node to increase the stability of the system. The blockchain technologies that is going to be used are Stellar and Hyperledger. Stellar is fast at processing transaction, while Hyperledger is efficient in saving information like user’s data, because of this both of these blockchain technologies will be used together to create a better system. User’s information saved in Hyperledger blockchain will be encrypted so that no entities can take advantage of the data. The electronic payment system able to fulfil common functional requirements of an electronic payment system such as transfer between user, top-up balance, checking of balance, registration, payment to third party services like ecommerce, update of user’s data, and controlling who can read the user data. System also fulfill non-functional requirements such as availability, where system can still run when a node is down; response time with maximum response time of 6 seconds; portability which is fulfilled by the system running on top of a container, and security. For security, system is tested by list of threats that could impact an electronic payment system, system can handle 7 out of 9 threats with some assumptions.