Thesis Abstract

Abstract
Blockchain technology has emerged as a disruptive force in the banking and finance industry, offering a decentralized and transparent platform for conducting financial transactions. This thesis explores the application of blockchain technology in enhancing the security and transparency of financial transactions in the banking sector. The study provides an in-depth analysis of how blockchain technology can improve the efficiency, security, and transparency of financial transactions, ultimately benefiting both financial institutions and customers. The research begins with an introduction to blockchain technology and its relevance to the banking sector. A background of the study is provided to contextualize the importance of addressing security and transparency issues in financial transactions. The problem statement highlights the existing challenges faced by traditional banking systems and the potential solutions that blockchain technology offers. The objectives of the study focus on examining the impact of blockchain technology on financial transactions, while also considering the limitations and scope of the research. A comprehensive literature review is conducted to analyze existing studies and research findings related to blockchain technology in banking and finance. The review covers ten key areas, including the benefits of blockchain technology, the potential risks and challenges, regulatory considerations, and case studies of successful implementations in the banking sector. The research methodology section outlines the approach taken to investigate the research questions and achieve the study objectives. The methodology includes data collection methods, sample selection criteria, data analysis techniques, and ethical considerations. Eight key components are discussed in detail to provide a robust framework for conducting the research. The findings of the study are presented in chapter four, where the analysis of data and research outcomes are discussed in depth. The results highlight the impact of blockchain technology on financial transactions, showcasing improvements in security, efficiency, and transparency. Case studies and examples are provided to demonstrate real-world applications of blockchain technology in the banking sector. Finally, the thesis concludes with a summary of the key findings and implications of the research. The conclusion reflects on the contributions of the study to the field of banking and finance, as well as the potential future developments and challenges that may arise. Recommendations for further research and practical implications for financial institutions are also discussed. Overall, this thesis contributes to the growing body of knowledge on blockchain technology and its role in enhancing the security and transparency of financial transactions in the banking sector. By exploring the potential benefits and challenges of blockchain technology, this study provides valuable insights for policymakers, industry practitioners, and researchers seeking to leverage blockchain technology for financial innovation and transformation.

Thesis Overview

The project titled "Blockchain Technology in Enhancing Financial Transactions Security and Transparency in Banking" aims to investigate the role of blockchain technology in revolutionizing the banking sector by enhancing the security and transparency of financial transactions. Blockchain technology, which forms the backbone of cryptocurrencies such as Bitcoin, has gained significant attention in recent years due to its potential to transform traditional financial systems. The research will delve into how blockchain technology can address the existing challenges in the banking industry related to security vulnerabilities, lack of transparency, and inefficiencies in transaction processing. The research will begin by providing an introduction to the significance of blockchain technology in the banking sector, highlighting its potential benefits in terms of improving security, reducing fraud, and increasing transparency in financial transactions. The background of the study will explore the evolution of blockchain technology and its adoption in various industries, leading up to its potential applications in banking. The problem statement will identify the key challenges faced by the banking sector in ensuring the security and transparency of financial transactions, emphasizing the need for innovative solutions such as blockchain. The objectives of the study will focus on evaluating the impact of blockchain technology on financial transactions security and transparency in banking, assessing the potential benefits and limitations of its implementation. The scope of the study will define the boundaries within which the research will be conducted, including the specific aspects of blockchain technology and banking operations that will be analyzed. The significance of the study will highlight the potential contributions of the research to the banking industry, regulators, policymakers, and academia in understanding the implications of blockchain technology. The research methodology will outline the approach and techniques that will be used to investigate the research questions, including data collection methods, data analysis techniques, and theoretical frameworks that will guide the study. The literature review will provide a comprehensive analysis of existing research and case studies related to blockchain technology in banking, highlighting the key findings and trends in the field. The discussion of findings will present the research results, analyze the implications for the banking sector, and identify opportunities for further research and practical applications. In conclusion, the research will summarize the key findings and insights from the study, reiterating the significance of blockchain technology in enhancing financial transactions security and transparency in banking. The study will contribute to the growing body of knowledge on blockchain technology and its applications in the banking sector, providing valuable insights for industry practitioners, policymakers, and researchers. Overall, the project aims to shed light on the transformative potential of blockchain technology in reshaping the future of banking operations and financial transactions security.