Homomorphic encryption application on FinancialCloud framework

Data security and privacy is a major concern for the users while using software services on the cloud. When users want to compute on a cloud service, traditional encryption schemes can be applied to encrypt and transfer the data to the cloud service. However, the service provider must decrypt the data for input into their computational model and thus the data content is exposed. If users do not want service providers to know what they are computing, then computing on encrypted data preserving privacy is an important issue. Homomorphic encryption is an encryption method where computations can be performed on the ciphertext, and the decrypted result of these computations is the same as if the computations were performed on the plaintext. However, the performance of this approach is currently inefficient. This paper presents an application of homomorphic encryption method on an open financial cloud framework (FinancialCloud) to perform calculations on encrypted data, therefore securing the data throughout the whole process. We demonstrate by example, showing that by applying improved algorithms can lessen the deficiencies induced by homomorphic encryptions.