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A Proposed Framework for Improving Online Banking Transactions Using Blockchain

Article

Last updated: 26 Dec 2024

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Abstract

The aim of this article is to propose a framework for mobile applications to improve online banking transactions using blockchain to secure customers' accounts for any transactions via application. The application addresses customer account security issues by improving online banking transactions. Blockchain technology creates a ledger to protect against hacking, improving efficiency. This solution reduces complexity by allowing apps to maintain and share secure, visible, and immutable records. The blockchain has the potential to optimize the internet banking sector by enhancing privacy, transparency, and effectiveness. Blockchain could change online banking by boosting transaction speed, lowering costs, improving transparency, and increasing privacy. It may also reduce the need for third-party intermediaries such as clearinghouses and other financial institutions. Consequently, transaction costs are reduced, and efficiency is increased. Additionally, by documenting all transactions and making it simpler for regulators to monitor transactions and avoid fraudulent activities that surround many of us as a result of corruption, blockchains can promote transparency. There are several methods that can satisfy the requirements of online transactions. Most online banking transactions that use blockchain to enhance frameworks benefit from a variety of technologies to provide comprehensive solutions. Consequently, for the blockchain to acquire its full potential in the online banking sector, these dangers must be addressed. while safeguarding the user and the infrastructure for smart applications. This paper provides a proposed framework for online banking transactions using blockchain.  

DOI

10.21608/sjrbs.2024.253853.1568

Keywords

Online Banking Transactions, Blockchain Digital Transformation, Distributed Ledger Technology

Authors

First Name

Mohamed Samir

Last Name

Saad

MiddleName

-

Affiliation

Business information systems,helwan university,cairo,Egypt

Email

mohamed.samir21@commerce.helwan.edu.eg

City

-

Orcid

0000-0002-9310-1374

First Name

Ahmed

Last Name

Abd-Elwahab

MiddleName

-

Affiliation

Information Systems Department, Faculty of Commerce and Business Administration, Helwan University, Cairo, Egypt.

Email

ahmed.mohamed.abdelwahab@commerce.helwan.edu.eg

City

Helwan, Cairo, Egypt

Orcid

-

Volume

38

Article Issue

1

Related Issue

46547

Issue Date

2024-03-01

Receive Date

2023-12-07

Publish Date

2024-03-01

Page Start

1,475

Page End

1,500

Print ISSN

1110-2373

Online ISSN

2682-4876

Link

https://sjrbs.journals.ekb.eg/article_345245.html

Detail API

https://sjrbs.journals.ekb.eg/service?article_code=345245

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345,245

Type

المقالة الأصلية

Type Code

1,324

Publication Type

Journal

Publication Title

المجلة العلمية للبحوث والدراسات التجارية

Publication Link

https://sjrbs.journals.ekb.eg/

MainTitle

A Proposed Framework for Improving Online Banking Transactions Using Blockchain

Details

Type

Article

Created At

26 Dec 2024