Blockchain for Securing Data Storage in Digital Banking Services

Blockchain for Securing Data Storage in Digital Banking Services

연구 분야: Verification

학회: SN Computer Science

The swift evolution of digital banking has underscored the urgent need for enhanced data security. Blockchain technology, with its inherent decentralized, transparent, and secure characteristics, offers a robust solution. This research aims to explore the integration of blockchain technology as a solution for enhancing data security in digital banking services within digital banking services. We began with a thorough literature review to identify existing challenges and opportunities. Following this, we developed a comprehensive blockchain framework specifically designed for digital banking, complete with detailed protocols and security measures. A prototype was developed and rigorously tested to evaluate its security, efficiency, and scalability. Our research includes case studies of blockchain applications in the banking sector, juxtaposed with traditional security methods, to highlight benefits and address any limitations. Performance metrics such as transaction speed, cost-effectiveness, and data integrity were meticulously assessed using real transaction data and simulations, ensuring compliance with privacy standards. The findings of this study provide practical insights and recommendations for implementing blockchain technology in digital banking, demonstrating its potential to significantly enhance data security and operational reliability.