BLOCKCHAIN BASED SECURE TRANSACTION MANAGEMENT SYSTEM
International Research Journal of Modernization in Engineering Technology and Science · 2022
A new business paradigm called e-commerce depends on autonomous transaction management on gadgets.The management structure for blockchain-based e-commerce requires independence, portability, and legality.We use blockchain to develop an autonomous transaction management system for e-commerce since it is a cutting-edge technology capable of controlling a decentralized network.However, present blockchain technologies, most notably cryptocurrencies, have the fatal flaws of being unserviceable and having a significant processing cost, making them inapplicable to blockchain-based e-commerce.In this research, we suggest a normalized autonomous transaction settlement system for e-commerce based on blockchain.The ability for the banking industry to monitor and, if necessary, manage the transaction without infringing on the privacy rights of specific users.To record and maintain track of the transactions taking place in a merchant's business, a device can operate a block chain server on the merchant's property.By adding a digital identification layer, the users' true identities are shielded.With permission from the concerned bank, the official can oversee the transaction by gaining access to the bank layer.