Thesis Abstract

Abstract
Blockchain technology has gained significant attention in recent years for its potential to revolutionize various industries, including banking and finance. This thesis explores the application of blockchain technology in enhancing security and efficiency in online banking transactions. The research aims to investigate how blockchain can address the challenges faced by traditional banking systems, such as security vulnerabilities, lack of transparency, and inefficiencies in transaction processing. The study begins by providing an overview of blockchain technology and its fundamental principles. It delves into the background of the study, highlighting the growing importance of cybersecurity and the increasing demand for secure and efficient online banking services. The problem statement identifies the existing challenges in traditional online banking systems and the potential benefits that blockchain technology can offer in addressing these issues. The objectives of the study include examining the impact of blockchain on security and efficiency in online banking transactions, evaluating different blockchain platforms and consensus mechanisms suitable for banking applications, and assessing the regulatory and compliance considerations associated with implementing blockchain in the banking sector. The research methodology section outlines the approach taken to conduct the study, including a comprehensive literature review of existing research on blockchain technology in banking and finance. The methodology also includes data collection methods, data analysis techniques, and the criteria for selecting case studies and participants for the study. Findings from the study reveal that blockchain technology has the potential to enhance security in online banking transactions through its decentralized and tamper-resistant nature. The use of smart contracts and cryptographic techniques can further improve transaction efficiency and transparency, reducing the risk of fraud and errors in banking operations. The discussion of findings explores the implications of implementing blockchain technology in online banking, including the challenges and opportunities for financial institutions and regulators. It highlights the importance of collaboration among industry stakeholders to develop common standards and protocols for blockchain adoption in banking services. In conclusion, this thesis emphasizes the significance of blockchain technology in transforming the banking industry by enhancing security, improving efficiency, and fostering trust among customers. The study contributes to the existing body of knowledge on blockchain applications in banking and provides recommendations for future research and practical implementation strategies. Keywords Blockchain technology, Online banking, Security, Efficiency, Cryptocurrency, Smart contracts, Financial services, Decentralization, Transparency.

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. This study seeks to address the increasing importance of security and efficiency in digital banking transactions, particularly in the face of evolving cyber threats and the growing demand for seamless financial services. The project will begin with a comprehensive introduction that outlines the background of the study, the problem statement, research objectives, limitations, scope, significance, and the overall structure of the thesis. This section will provide a clear overview of the research focus and set the foundation for the subsequent chapters. Chapter two will consist of a detailed literature review that examines existing research and case studies related to blockchain technology in the banking sector. This chapter will explore the key concepts, trends, and challenges in blockchain adoption within the context of online banking, providing a theoretical framework for the study. Chapter three will focus on the research methodology, detailing the approach, data collection methods, sampling techniques, and analytical tools used in the study. This chapter will outline how data will be collected, analyzed, and interpreted to address the research objectives effectively. Chapter four will present a comprehensive discussion of the findings, including an analysis of how blockchain technology can enhance security and efficiency in online banking transactions. This section will highlight the key insights, trends, and implications derived from the data analysis, offering practical recommendations for banks and financial institutions looking to leverage blockchain technology. Finally, chapter five will provide a conclusive summary of the research findings, reiterating the significance of the study and its implications for the banking sector. This chapter will also discuss the limitations of the study, suggest areas for future research, and offer concluding remarks on the potential impact of blockchain technology on online banking security and efficiency. Overall, this research project aims to contribute valuable insights into the application of blockchain technology in online banking, shedding light on the opportunities and challenges associated with enhancing security and efficiency in digital financial transactions. By examining the intersection of blockchain technology and online banking, this study seeks to provide a roadmap for banks and financial institutions looking to navigate the evolving landscape of digital finance effectively.