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In a decentralized financial system, many issues have been pointed out from the viewpoints of user protection, financial crime prevention, and financial stability, etc. In order to reap the fruits of technological innovation, it is essential to reduce these risks. In considering how to respond to various risks, risk assessment using objective and reliable data is considered important. However, as the FSB, FATF, and other organizations have pointed out in their reports, there is a lack of data necessary to understand the actual state of decentralized financial systems, including DeFi and P2P.
Therefore, as part of the FSA's "International Joint Research on Blockchain" this research will conduct a survey on the actual status of distributed financial systems, including DeFi and P2P, using on-chain/off-chain data. In distributed financial systems, in addition to on-chain data such as transaction records on the blockchain, more in-depth data can be obtained by linking off-chain data such as IP addresses, web traffic, and sanctions-related information with blockchain addresses. We will conduct this research in order to understand the actual situation of such on-chain/off-chain data, including whether or not the data can be obtained, and to provide a useful perspective for considering future policy measures.
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