Thesis Abstract

Abstract
Blockchain technology has gained significant attention in recent years for its potential to revolutionize various industries, including the banking sector. This thesis explores the application of blockchain technology in enhancing security and transparency in online banking transactions. The research investigates how blockchain can address the current challenges faced by traditional banking systems, such as security vulnerabilities and lack of transparency. The study begins with an introduction to the concept of blockchain technology and its relevance to the banking sector. It discusses the background of the study, highlighting the need for improved security and transparency in online banking transactions. The problem statement identifies the existing issues in traditional banking systems and sets the foundation for the research objectives. The main objective of this research is to analyze how blockchain technology can enhance security and transparency in online banking transactions. The study aims to identify the limitations of traditional banking systems and evaluate the scope of implementing blockchain solutions. Additionally, the research explores the significance of adopting blockchain technology in the banking sector and provides a detailed structure of the thesis. Chapter two presents a comprehensive literature review on blockchain technology and its applications in the banking industry. The review covers ten key aspects, including the history of blockchain, its key features, security benefits, transparency advantages, regulatory challenges, and adoption trends in the banking sector. Chapter three focuses on the research methodology employed in this study. It includes detailed discussions on the research design, data collection methods, sampling techniques, data analysis procedures, ethical considerations, limitations, and the scope of the research. Chapter four presents an elaborate discussion of the findings obtained from the research. The chapter analyzes how blockchain technology can enhance security and transparency in online banking transactions, addressing the identified challenges in traditional banking systems. It also discusses the implications of implementing blockchain solutions for banks and customers. Finally, chapter five provides a conclusion and summary of the thesis. It highlights the key findings of the research, including the benefits of blockchain technology in improving security and transparency in online banking transactions. The chapter concludes with recommendations for future research and practical implications for the banking sector. Overall, this thesis contributes to the existing literature on blockchain technology and its applications in the banking industry. By examining the potential of blockchain to enhance security and transparency in online banking transactions, the research provides valuable insights for banks, regulators, and policymakers seeking to leverage technology for a more secure and transparent financial ecosystem.

Thesis Overview

The project titled "Application of Blockchain Technology in Enhancing Security and Transparency in Online Banking Transactions" aims to explore the potential of blockchain technology in revolutionizing the security and transparency aspects of online banking transactions. In recent years, online banking has become an integral part of the financial industry, offering convenience and accessibility to users worldwide. However, the increasing concerns related to security breaches and lack of transparency have raised significant challenges for both financial institutions and customers. Blockchain technology, known for its decentralized and secure nature, has emerged as a promising solution to address these challenges. By leveraging blockchain technology in online banking transactions, this research seeks to enhance the security of financial data and ensure transparent and immutable records of transactions. Through a comprehensive analysis of the current online banking landscape, the study aims to identify the key security and transparency issues faced by users and financial institutions. The research will delve into the underlying principles of blockchain technology, exploring how its decentralized ledger system can enhance the security of online banking transactions by providing secure encryption methods and reducing the risks of data breaches. Furthermore, the study will investigate the transparency benefits of blockchain technology, such as enabling real-time transaction verification and ensuring audit trails for regulatory compliance. By conducting a thorough literature review on blockchain technology, online banking security, and transparency, the research will establish a theoretical framework for the application of blockchain in enhancing online banking transactions. Additionally, the study will employ a mixed-method research approach, including surveys, interviews, and case studies, to gather empirical data on the perceptions and experiences of users and financial institutions regarding blockchain technology in online banking. The findings of this research project are expected to provide valuable insights into the potential of blockchain technology to strengthen the security and transparency of online banking transactions. By proposing practical recommendations and guidelines for implementing blockchain solutions in the financial sector, the study aims to contribute to the advancement of online banking practices and enhance trust and confidence among users and stakeholders. Ultimately, the research seeks to pave the way for a more secure, transparent, and efficient online banking ecosystem through the application of blockchain technology.