Block chain technology for protecting the banking transaction without using tokens
Niturkar Pallavi Pravin, Kulat Pratiksha Anil, Sukate Manasi Sunil, Modhave Snehal Kundlik, Phalke Akshay Suhas · 2020 Second International Conference on Inventive Research in Computing Applications (ICIRCA) · 2020
Increasing digital technology has revolutionized the life of people. There are many threats and frauds detected in banking system. A centralized database is used by banking system which makes the attacker easy to get access to data and this makes the system insecure. The drawback of this centralized system can be reduced by reforming the system by implementing blockchain technology without using tokens. Blockchain uses decentralized architecture for storing and accessing data over the database. This reduces attacks on database hacked. Transactions done through blockchain technology are verified by each block in the chain, which will make the transaction more secure and help banking system work faster.