Thesis Abstract

Abstract
Blockchain technology has gained significant attention in recent years due to its potential to revolutionize various industries, including banking and finance. This thesis explores the application of blockchain technology in enhancing security and efficiency in online banking transactions. The study aims to investigate how blockchain technology can address the challenges faced by traditional online banking systems, such as security vulnerabilities and inefficiencies in transaction processing. The research begins with a comprehensive review of the literature on blockchain technology and its potential applications in the banking sector. The study identifies key concepts and principles of blockchain technology, highlighting its decentralized nature, immutability, transparency, and security features. The literature review also discusses the evolution of online banking systems and the challenges associated with traditional centralized transaction processing models. The research methodology chapter outlines the approach taken to investigate the research questions and achieve the study objectives. The methodology includes data collection methods, data analysis techniques, and the research design adopted for the study. The research employs both qualitative and quantitative research methods to gather data from relevant sources, including primary data from interviews with banking professionals and secondary data from academic journals, industry reports, and case studies. The findings chapter presents the results of the study, highlighting the benefits of implementing blockchain technology in online banking transactions. The findings demonstrate that blockchain technology can enhance security by providing a tamper-proof and transparent ledger for recording transactions. Additionally, blockchain technology can improve efficiency by enabling real-time transaction processing, reducing intermediaries, and streamlining the reconciliation process. The discussion chapter provides a detailed analysis of the findings, comparing them with existing literature and discussing their implications for the banking industry. The chapter explores the challenges and limitations of implementing blockchain technology in online banking systems, such as scalability issues, regulatory concerns, and interoperability challenges. The discussion also highlights the potential opportunities for future research in this area. In conclusion, the study emphasizes the significance of adopting blockchain technology to enhance security and efficiency in online banking transactions. The research contributes to the existing literature by providing insights into the benefits and challenges of implementing blockchain technology in the banking sector. The study recommends further research to address the remaining barriers to widespread adoption of blockchain technology in online banking systems. Keywords Blockchain Technology, Online Banking, Security, Efficiency, Decentralization, Transparency, Transaction Processing, Banking Sector.

Thesis Overview

The research project titled "Application of Blockchain Technology in Enhancing Security and Efficiency in Online Banking Transactions" aims to explore the potential benefits of integrating blockchain technology into online banking systems. This study seeks to investigate how blockchain can enhance the security and efficiency of online banking transactions, ultimately improving the overall customer experience and reducing the risk of fraud. The project will begin with an introduction that provides an overview of the importance of online banking in the digital age and the increasing need for secure and efficient transaction processes. It will also present the background of the study, highlighting the evolution of blockchain technology and its relevance to the banking sector. The problem statement will identify the existing challenges and vulnerabilities in online banking transactions, such as security breaches, data manipulation, and transaction delays. The research objectives will outline the specific goals of the study, including assessing the impact of blockchain technology on transaction security, evaluating its potential to streamline banking operations, and identifying any limitations or challenges in its implementation. The study will also define the scope of the research, outlining the specific aspects of online banking transactions that will be considered, such as authentication mechanisms, data encryption, and transaction verification processes. The significance of the study will be discussed to highlight the potential contributions of the research to the field of banking and finance, as well as the broader implications for enhancing security and efficiency in online transactions. The structure of the thesis will be outlined to provide a roadmap of the research process, including the chapters and subtopics that will be covered. Additionally, key terms and concepts related to blockchain technology and online banking will be defined to ensure clarity and understanding throughout the study. In the literature review, the project will explore existing research and case studies related to blockchain technology in the banking sector, highlighting successful implementations, challenges faced, and lessons learned. This section will provide a comprehensive overview of the current state of blockchain adoption in online banking and identify gaps in the existing literature that the study aims to address. The research methodology will outline the approach and methods used to collect and analyze data for the study, including qualitative and quantitative research techniques, data sources, and data analysis tools. This section will detail the research design, sampling strategy, data collection procedures, and data analysis techniques employed to achieve the research objectives. The discussion of findings will present the results of the study, including an analysis of the impact of blockchain technology on online banking security and efficiency, key findings related to transaction processing speed, data security, and user experience. The implications of the findings will be discussed, highlighting the potential benefits of blockchain integration for online banking operations and customer satisfaction. Finally, the conclusion and summary chapter will provide a comprehensive overview of the research findings, implications, and recommendations for future research and practical applications. The key contributions of the study to the field of banking and finance will be summarized, and potential areas for further exploration and development will be identified. Overall, this research project aims to contribute to the growing body of knowledge on blockchain technology in the banking sector and provide insights into how this innovative technology can be leveraged to enhance security and efficiency in online banking transactions.