On secure electronic auction process of government domestic debt securities in Turkey


Tezin Türü: Doktora

Tezin Yürütüldüğü Kurum: Orta Doğu Teknik Üniversitesi, Uygulamalı Matematik Enstitüsü, Türkiye

Tezin Onay Tarihi: 2013

Öğrenci: ATİLLA BEKTAŞ

Danışman: ERSAN AKYILDIZ

Özet:

Auctions, today, have become an important part of electronic commerce. With the gradually increasing importance of confidentiality and privacy in auction modeling, considering these two concepts, various designs have been proposed to ensure secure transmission especially in sealed-bid auctions. However, to the best of our knowledge, there has not been many approaches to the Treasury auctions. Looking at the current systems, many countries including Turkey perform Treasury auctions mostly manually. While it can be seen that there have been almost no problems in the processes and the procedures have been operated successfully so far, letting all the bids be transferred to the system in clear text and the operations being realized on clear text show that from a cryptographic point of view, con dentiality and privacy are not guaranteed and that therefore with the ongoing advances and developments in technology, this makes the system more vulnerable to such potential threats. On the other hand, since the knowledge of individual bids is of great value to the others who may use this knowledge to better their positions, it becomes crucial that the confidentiality of all submitted bids and privacy concerns of all the bidders should be satisfied. In a secure electronic auction system, from a cryptographic point of view, it is possible to determine the winner or the winners without revealing any private information. Within this scope, to accomplish this, in this thesis, we propose a new and efficient secure electronic auction model for Government Domestic Debt Securities (government bonds and treasury bills), satisfying both confidentiality and privacy, based on secure multi-party computation, secret sharing and threshold homomorphic cryptosystem. To the best of our knowledge, this is the first study applied on issuing Government Domestic Debt Securities via electronic auction method.