TACKLE: Time-based access control and key delegation for letter of credit ecosystems

Abstract

Letters of Credit (L/Cs) are essential for international trade, but traditional systems struggle with security, efficiency, and access control. To address these challenges, we propose TACKLE, a new framework that combines identity-based encryption (IBE) with blockchain technology. TACKLE offers advanced features like time-based access control and hierarchical key delegation, making it ideal for complex international trade workflows. Our framework significantly improves document verification and access management while maintaining strong security. We tested TACKLE’s performance and found it to be efficient, with quick key generation times (68–74 ms) and fast encryption (3.933 to 8.333 s). Network latency was stable at 2–8 ms across different data sizes. Compared to RSA, TACKLE generated keys 34.2% faster while using similar system resources. Our results show that TACKLE effectively balances security with efficiency, making it suitable for typical L/C documents up to 10MB. With its strong security features and performance, TACKLE is a promising solution for modernizing international trade finance.