A Regulatable Mechanism for Transacting Data Assets

Liutao Zhao, Lin Zhong, Jidong Liu, Xianfu Zeng, Jiawan Zhang

Abstract: Blockchain technology is increasingly utilized for data asset transactions, particularly for private data that should not be shared with unauthorized parties. To ensure auditability and traceability of transaction records and data, we propose a triple-receiver public key encryption scheme based on bilinear mapping. This scheme serves as a regulated mechanism for data asset transactions and is integrated into a blockchain-based platform with a digital asset exchange protocol. In our approach, the sender encrypts a message using its private key and the public keys of three designated receivers. Each receiver can then independently decrypt the message using their private key. We demonstrate that our scheme is secure against chosen-plaintext and adaptive chosen-ciphertext attacks, provided that the gap bilinear Diffie-Hellman problem and the computational Diffie-Hellman problem are computationally infeasible. In comparison to Diameter’s dual-receiver encryption scheme, our method offers similar decryption speeds. Additionally, we incorporate the significant feature that allows both the sender and all three receivers to decrypt independently. Performance evaluations indicate that our scheme is well-suited for data asset transactions in the Internet of Things (IoT), offering decentralized and trust management capabilities.