Study on the transaction linkage technique combined with the designated terminal for 5G-enabled IoT

Abstract With the growth of the scale of the market for Internet banking and e-commerce, the number of Internet-based financial markets has been increasing. Meanwhile, hacking incidents continuously affect the Internet-banking services. For this reason, a countermeasure is required to improve the security of the online-identification process. The current security and authentication mechanisms applied to financial services, such as the Internet-banking services for 5G-enabled IoT, do not ensure security. In this paper, a transaction-linkage technique with which the designated terminal is combined is proposed to solve this fundamental problem. The technique improves the security of online-identification mechanisms because it is possible to counteract all of the existing security threats. The proposed technique supports mutual authentication and is safe from the eavesdropping attack, replay attack, spoofing attack, and service-denial attack. Moreover, the technique supports non-repudiation by storing the transaction history in a transaction-linkage device. We believe that the security of Internet-banking services for 5G-enabled IoT will be increased through the utilization of the proposed technique.