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Security Innovations and Risks in Payments and Stablecoins

Author(s) Karan Khanna
Country United States
Abstract This research paper delves into the transformative role of blockchain and encryption technologies in revolutionizing payment security and fostering trust within the financial landscape, with a particular focus on stablecoins. Stablecoins are a relatively new form of cryptocurrency that aims to maintain a stable value relative to a specified asset, or a pool or basket of assets1. They differ from other cryptocurrencies, such as Bitcoin, which can experience high levels of price volatility1. The stability of stablecoins makes them more attractive as a means of payment and exchange, and they have the potential to revolutionize the way we conduct business and make transactions1. By examining the mechanics of blockchain and encryption technologies, the paper investigates how they combat fraud, enhance security, and build trust in digital transactions. Furthermore, the analysis extends to innovative concepts like zero-knowledge proofs and privacy coins, assessing their potential benefits and drawbacks concerning user security. The paper also explores the broader challenges and opportunities presented by these advancements, including scalability, regulatory compliance, and adoption hurdles, while considering the potential of decentralized finance (DeFi), central bank digital currencies (CBDCs), and cross-border payment solutions.
Keywords -
Field Engineering
Published In Volume 6, Issue 1, January 2025
Published On 2025-01-14
Cite This Security Innovations and Risks in Payments and Stablecoins - Karan Khanna - IJLRP Volume 6, Issue 1, January 2025. DOI 10.5281/zenodo.14785953
DOI https://doi.org/10.5281/zenodo.14785953
Short DOI https://doi.org/g83sxp

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