A Smart and Private Blockchain-enabled Framework for Digital Assets

Abstract

Nowadays, many digital assets are generated all the time, and managing these digital assets has become an important issue. The traditional digital asset management system manages data by the service provider, and data is not processed transparently. Furthermore, centralized storage makes Single Point of Failure (SPOF), and it is also challenging to ensure that data backed up by all nodes are synchronized. Rapid improvement of blockchain technology, the above two problems are resolved by leveraging blockchain’s decentralization and tamper resistance characteristics. The EU General Data Protection Rules (GDPR) state the principles for protecting data owners in 2018. Several principles for deleting personal data conflict with the blockchain, such as Storage Limit and the Right to Be Forgotten. The existing blockchain-enabled digital asset management methods do not apply to the GDPR. Although some methods are proposed for storing digital assets in off-chain storage and storing the hash address of storage in the blockchain, the problem of SPOF has not been resolved yet. This motivates to propose SPChain, a smarter and private GDPR-compliant digital asset framework enabled by blockchain and decentralized InterPlanetary File System is implemented to solve the problem of SPOF. The proposed SPChain to digital art management provides an implementation using Hyperledger Fabric. The proposed framework consists of a model developer, art creator, collector, service provider and securely assessed AI model for managing digital assets. The experiments measured throughput, latency and resource consumption of various functions in the smart contract’s artwork_CC, walle_CC, 3A_CC, log_CC, model_CC. This proposed work is the first novel work to combine digital asset management with detailed design of the decentralized off-chain storage and artificial intelligence models.