Thesis Abstract

Abstract
The rapid advancement of technology in the digital age has significantly transformed the banking and finance sector, leading to the widespread adoption of online banking services. However, the increased reliance on digital platforms for financial transactions has also brought about new challenges related to security and efficiency. In response to these challenges, this thesis investigates the application of blockchain technology as a solution to enhance security and efficiency in online banking transactions. The study begins with an exploration of the background of online banking and the evolution of blockchain technology. It identifies the problem of cybersecurity threats and inefficiencies in traditional banking systems, highlighting the need for innovative solutions to address these issues. The research objectives are outlined to investigate how blockchain technology can be leveraged to improve security and efficiency in online banking transactions. The methodology chapter presents a detailed description of the research approach, including data collection methods, sampling techniques, and data analysis procedures. The study employs a mixed-methods approach, combining qualitative interviews with banking experts and quantitative analysis of online banking transaction data. The data collection process is designed to provide comprehensive insights into the potential benefits of blockchain technology in enhancing security and efficiency in online banking. Findings from the research reveal that blockchain technology offers several advantages in the context of online banking, including enhanced security through cryptographic encryption, decentralized transaction verification, and transparency. Moreover, the application of blockchain can streamline transaction processes, reduce costs, and improve the overall efficiency of online banking operations. The discussion chapter critically analyzes the implications of these findings and explores the potential challenges and limitations associated with implementing blockchain technology in online banking systems. In conclusion, this thesis underscores the significance of integrating blockchain technology into online banking platforms to address security concerns and enhance operational efficiency. The study contributes to the existing literature by offering practical insights and recommendations for financial institutions seeking to leverage blockchain technology effectively. Overall, the findings suggest that adopting blockchain technology in online banking transactions can lead to a more secure and efficient financial ecosystem that benefits both customers and financial institutions.

Thesis Overview

The project titled "Application of Blockchain Technology in Improving Security and Efficiency in Online Banking Transactions" aims to explore the potential benefits and challenges associated with integrating blockchain technology into the online banking sector. Blockchain technology has gained significant attention in recent years due to its decentralized and secure nature. By utilizing a distributed ledger system, blockchain offers enhanced security features that can help mitigate risks associated with online banking transactions, such as fraud and data breaches. Additionally, the transparency and immutability of blockchain records can improve the efficiency of transactions by reducing the need for intermediaries and streamlining processes. This research will delve into the theoretical foundations of blockchain technology and its relevance to online banking. It will examine the current landscape of online banking security and identify the key vulnerabilities that blockchain technology can address. Furthermore, the study will investigate the implementation challenges and potential limitations of integrating blockchain into existing online banking systems. The research methodology will involve a combination of literature review, case studies, and empirical analysis to provide a comprehensive understanding of the subject matter. By reviewing existing literature and real-world examples of blockchain implementation in the banking sector, the study aims to identify best practices and potential pitfalls that institutions should consider when adopting blockchain technology. The findings of this research are expected to contribute valuable insights to the field of online banking security and blockchain technology. By highlighting the benefits and challenges of implementing blockchain in online banking transactions, the study aims to provide practical recommendations for financial institutions looking to enhance security and efficiency in their digital services. Overall, this research overview sets the stage for an in-depth exploration of how blockchain technology can revolutionize online banking by improving security and efficiency. The project holds the potential to offer valuable knowledge and guidance to stakeholders in the banking industry seeking to leverage blockchain for a more secure and streamlined online banking experience.