Blockchain based Advanced Banking Software System

Blockchain based Advanced Banking Software System

Abstract:

This project describes a Blockchain-based advanced banking software system that improves banking security and reliability. Blockchain technology is used in government, healthcare, industrial, and banking sectors due to its security and cryptography. This project aims to create a blockchain-powered banking app to combat fraudulent card transactions. We can significantly reduce fraud by switching to a Blockchain-based system. An immutable ledger stores this system’s transactions in blocks. The digital ledger database is these blocks. Hashing algorithms uniquely identify transactions for security. Permissioned networks allow only authorized nodes to process transactions.

Introduction:

Blockchain Technology revolutionized information security and transactional reliability. Its transparency, decentralization, and tamper-resistance have made it popular in many industries. This project describes a Blockchain-based advanced banking software system to reduce banking fraud.

Objectives:

This project aims to create a banking app that uses Blockchain Technology to combat fraudulent card transactions. Blockchain can make banking more secure and reliable, reducing fraud risk. An immutable ledger will store transactions in a chain of blocks for transparency and tamper resistance. The permissioned network will restrict transaction processing to authorized nodes.

Project Details:

Blockchain Technology will secure and verify transactions in the proposed banking app. Blockchain-based banking will improve security and reliability. An immutable ledger will record transactions in blocks that form the Blockchain. Each bank will keep a copy of the ledger, creating a decentralized, secure network.

Hashing algorithms will uniquely identify transactions to ensure integrity. This algorithm generates a secure hash as a digital fingerprint for efficient verification and authentication. Blockchain Technology will reduce fraud and provide a transparent, auditable platform for banks and their customers.

Conclusion:

In conclusion, this project describes a Blockchain-based advanced banking software system. Blockchain Technology is used to reduce fraudulent card transactions. A decentralized, secure, and reliable network with an immutable ledger replaces the current banking architecture. This ledger ensures transparency, tamper resistance, and accountability by chaining transaction blocks. Hashing algorithms uniquely identify transactions, increasing system security. Its integrity and trustworthiness are enhanced by operating on a permissioned network. This Blockchain-based banking application will revolutionize banking security and trust.

Note: Please discuss with our team before submitting this abstract to the college. This Abstract or Synopsis varies based on student project requirements.