Thesis Abstract

Abstract
The advancement of technology has significantly transformed the banking and finance sector, leading to the adoption of innovative solutions to address security and efficiency challenges in online banking transactions. This thesis explores the application of blockchain technology as a promising solution to enhance the security and efficiency of online banking transactions. The study investigates the potential benefits of blockchain technology in addressing vulnerabilities in traditional banking systems, such as data breaches, fraud, and transaction delays. Through an in-depth analysis of relevant literature and case studies, the research provides insights into the theoretical foundations and practical implications of integrating blockchain technology in online banking operations. Chapter One introduces the research topic, providing a background of the study, problem statement, objectives, limitations, scope, significance, structure of the thesis, and definition of key terms. Chapter Two presents a comprehensive literature review on blockchain technology, online banking security, and efficiency, highlighting key concepts, theories, and previous studies related to the research topic. The literature review discusses the evolution of blockchain technology, its key features, and its applications in the banking sector. Chapter Three outlines the research methodology employed in this study, including research design, data collection methods, sampling techniques, data analysis procedures, and ethical considerations. The chapter also describes the research framework used to analyze the impact of blockchain technology on online banking security and efficiency. Additionally, it discusses the limitations and challenges encountered during the research process. Chapter Four presents a detailed discussion of the research findings, focusing on the benefits and challenges of implementing blockchain technology in online banking transactions. The chapter analyzes how blockchain technology can enhance the security of customer data, prevent fraudulent activities, and streamline transaction processes in online banking platforms. Furthermore, it explores the potential risks and barriers associated with the adoption of blockchain technology in the banking industry. Chapter Five concludes the thesis by summarizing the key findings, implications, and recommendations for future research and practical applications. The study underscores the importance of leveraging blockchain technology to strengthen cybersecurity measures and improve operational efficiency in online banking transactions. Overall, the research contributes to the existing body of knowledge on the role of blockchain technology in enhancing security and efficiency in the banking sector, offering valuable insights for policymakers, industry practitioners, and researchers in the field of banking and finance. In conclusion, this thesis underscores the transformative potential of blockchain technology in revolutionizing online banking operations, paving the way for a more secure, transparent, and efficient financial ecosystem. By embracing blockchain technology, banks and financial institutions can mitigate cybersecurity risks, enhance customer trust, and optimize transaction processes, ultimately driving innovation and competitiveness in the digital banking landscape.

Thesis Overview

Overview: The project titled "Application of Blockchain Technology in Enhancing Security and Efficiency in Online Banking Transactions" aims to explore the potential of blockchain technology in revolutionizing the security and efficiency of online banking transactions. In recent years, the financial sector has witnessed a significant shift towards digital banking services, leading to an increased reliance on online platforms for financial transactions. However, this shift has also exposed vulnerabilities in the traditional banking system, such as security breaches, fraud, and inefficiencies in transaction processing. Blockchain technology, known for its decentralized and secure nature, presents a promising solution to address these challenges and enhance the security and efficiency of online banking transactions. The research will begin with a comprehensive review of the existing literature on blockchain technology, online banking transactions, security challenges, and efficiency issues in the financial sector. This will provide a foundational understanding of the current state of online banking and the potential benefits of integrating blockchain technology into the system. The literature review will cover various aspects of blockchain technology, including its underlying principles, key features, and applications in the financial industry. Following the literature review, the research will delve into the methodology section, outlining the research design, data collection methods, and analysis techniques employed in the study. The methodology will aim to investigate the impact of blockchain technology on enhancing security measures and streamlining transaction processes in online banking. It will involve the collection and analysis of data from relevant sources, such as case studies, surveys, and interviews with industry experts. The findings of the research will be presented in detail in the discussion section, highlighting the key insights and implications of integrating blockchain technology in online banking transactions. The discussion will explore how blockchain can enhance security measures by providing a transparent and tamper-proof system for recording transactions and verifying identities. It will also examine how blockchain can improve the efficiency of transaction processing by enabling real-time settlements, reducing intermediaries, and enhancing data accuracy. In conclusion, the research will summarize the main findings and contributions of the study, emphasizing the potential of blockchain technology to transform the online banking landscape. The project aims to provide valuable insights for financial institutions, policymakers, and researchers interested in leveraging blockchain technology to enhance security and efficiency in online banking transactions. Overall, the research seeks to contribute to the growing body of knowledge on blockchain technology and its applications in the financial sector, with a focus on improving the security and efficiency of online banking services.