Secure Bank Transaction System Using Blockchain Technology

Abstract

Banking functions require stable and safe systems of online transactions. The goal of the present study is to create a banking system based on block-chain and guaranteeing transparency, immutability, and absence of fraudulent activities. The uniqueness of the presented research thesis is the SBTE design that uses automation of smart contracts with the Ethereum blockchain validation to manage essentially banking operations such as registration, transfer of funds, accounts maintenance, etc. The recommended structure performs authentic transactions and documenting them on the blockchain which are verified by miners to ensure trust and traceability. Findings indicate that there are high proficiency, immediate updated records and proper upkeep of ledgers and in general. Ultimately, SBTE framework will be a very positive and stable banking system that allows running various transactions without interruption and will guarantee transparency and reliability to its users and administrators.