Thesis Abstract

The abstract for the thesis on "Application of Blockchain Technology in Enhancing Security and Efficiency in Online Banking Transactions" is as follows Abstract
The digital transformation of the banking sector has led to increased online transactions, necessitating the need for enhanced security measures to protect sensitive financial information. Blockchain technology, known for its decentralized and secure nature, has emerged as a potential solution to address the security and efficiency challenges in online banking transactions. This thesis investigates the application of blockchain technology in enhancing security and efficiency in online banking transactions. The study begins with an introduction that provides an overview of the research topic, followed by a background of the study that explores the evolution of online banking and the challenges associated with traditional security measures. The problem statement highlights the vulnerabilities in current online banking systems and the need for a more secure and efficient solution. The objectives of the study aim to assess the impact of blockchain technology on online banking security and efficiency. The literature review delves into ten key areas, including the fundamentals of blockchain technology, its application in the financial sector, and previous studies on blockchain in banking. The research methodology section outlines the research design, data collection methods, and analysis techniques used to investigate the research questions. It includes eight sub-sections detailing the steps taken to gather and analyze data effectively. The findings from the study are discussed in chapter four, which provides an in-depth analysis of the impact of blockchain technology on online banking security and efficiency. The discussion covers the advantages of blockchain technology, challenges in implementation, and potential future developments in the field. The conclusion summarizes the key findings of the study and offers recommendations for further research and practical implementation. Overall, this thesis contributes to the existing body of knowledge by exploring the potential of blockchain technology in enhancing security and efficiency in online banking transactions. By leveraging the decentralized and transparent nature of blockchain technology, banks can improve the security of customer data and streamline transaction processes. The findings of this study have implications for policymakers, financial institutions, and technology providers looking to enhance online banking security and efficiency in the digital age.

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 and challenges of integrating blockchain technology into online banking systems. The adoption of blockchain technology in the financial sector has gained significant attention due to its ability to provide enhanced security, transparency, and efficiency in transactions. This research seeks to investigate how blockchain can be leveraged to address the existing security vulnerabilities and operational inefficiencies in online banking platforms. The study will begin with a comprehensive literature review to examine existing research on blockchain technology, online banking systems, security issues, and efficiency challenges. This review will provide a theoretical foundation for understanding the key concepts and principles related to the application of blockchain in the context of online banking transactions. The research methodology will involve a combination of qualitative and quantitative approaches to gather data and analyze the effectiveness of blockchain technology in enhancing security and efficiency in online banking transactions. Surveys, interviews, and case studies will be conducted to collect primary data from banking professionals, cybersecurity experts, and customers to gain insights into their perceptions and experiences regarding blockchain adoption in online banking. The findings of the research will be presented in chapter four, where a detailed analysis of the data collected will be provided. The discussion will focus on the key advantages of using blockchain technology in online banking, such as improved data security, reduced transaction costs, faster processing times, and increased transparency. The challenges and limitations associated with blockchain implementation in the banking sector will also be addressed, including scalability issues, regulatory concerns, and interoperability challenges. In conclusion, the research will offer recommendations for banks and financial institutions looking to integrate blockchain technology into their online banking operations. The study will contribute to the existing body of knowledge on blockchain applications in the financial sector and provide valuable insights for policymakers, industry practitioners, and academics interested in understanding the potential of blockchain technology in enhancing security and efficiency in online banking transactions.