In the era of the digital economy, everyone is forced to convert to digital transaction and payment modes. Though it has many merits to its list, there is a critical element called security which is a significant concern for both the service provider and the end user. Hence this project provides a holistic understanding of the application of blockchain technology in the banking sector. Blockchain technology is a boon for the banking sector that mainly involves secured transactions. This project will discuss the meaning, steps, types, and applications of blockchain technology in the banking sector. The proposed system proposes blockchain technology and its role in ensuring secured banking transactions.
- Banking data Leakage is always possible because the existing system is a centralized distributed system.
- In the existing system there are drawbacks such as no data privacy, less reliability and lack of network security in sharing the Bank record among the cloud servers.
- It also lacks in data retrieval process since the existing system faces storage issue
- Today, banking industry is reliant on technology and therefore, blockchain could prove to be the game-changer in the industry.
- The feature of blockchain- the decentralized, and immutability ledger could bring a revolution in the record-keeping system.
- The blockchain technology can be used in banks and almost every business.
- It has the potential to transform the backend of banking system and reduce large amounts of operational cost.
- Blockchain would be critical in solving the current problems in banks.
- The main advantages of blockchains are efficiency, cost reduction, transparency, and elimination of third party.
- Front End – Anaconda IDE
- Backend – SQL
- Language – Python 3.8
- •Hard Disk: Greater than 500 GB
- •RAM: Greater than 4 GB
- •Processor: I3 and Above
- * Base Paper
- * Complete Source Code
- * Complete Documentation
- * Complete Presentation Slides
- * Flow Diagram
- * Database File
- * Screenshots
- * Execution Procedure
- * Readme File
- * Addons
- * Video Tutorials
- * Supporting Softwares
- * 24/7 Support * Ticketing System
- * Voice Conference
- * Video On Demand
- * Remote Connectivity
- * Code Customization
- * Document Customization
- * Live Chat Support
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