부산대학교 도서관

Usually, a payment system contains multiple verification layers, settlement techniques, and intermediary mediums leading to delayed transactions, especially in cross-border scenarios. Concerning the scalability problem, this paper proposes a consortium blockchain-based cross-border payment system ensuring auditability. The proposed system incorporates Zero Knowledge rollups (ZK-rollup), a layer-2 scaling solution, to make it scalable. ZK-rollup aggregate numerous transactions into one proof, trimming on-chain data and thereby enhancing throughput. This integration not only increases transaction speeds but also ensures privacy, as ZK-rollup encrypt transaction features, allowing for audits without compromising confidentiality. With the consortium blockchain, only permissioned financial institutions can participate in the consensus, offering an enhancement of decentralization, efficiency, and auditability. Significant improvement in cross-border payment systems, reduced transaction settlement times, enhanced security measures, etc., imply the efficiency of the proposed scheme.