BLOCKCHAIN-BASED SECURITY ARCHITECTURE FOR MODERN BANKING TRANSACTIONS: A TECHNICAL ANALYSIS
DOI:
https://doi.org/10.34218/IJCET_16_01_178Keywords:
Blockchain Security Architecture, Banking Systems Security, Distributed Ledger Technology, Regulatory Compliance Framework, Smart Contract ImplementationAbstract
This article presents a comprehensive analysis of blockchain-based security architecture in modern banking transactions, examining the fundamental components, applications, challenges, and regulatory frameworks. The article explores how blockchain technology revolutionizes traditional banking security through distributed ledger technology, advanced cryptographic frameworks, and smart contract implementations. It shows the transformation of banking operations through enhanced transaction security, digital identity management, and automated compliance systems. The article delves into technical implementation challenges, focusing on scalability, integration, interoperability, and energy efficiency solutions. Furthermore, it examines the regulatory landscape and standardization efforts necessary for widespread blockchain adoption in banking. The article also discusses future developments, including the integration of Central Bank Digital Currencies (CBDCs) and the fusion of Internet of Things (IoT) and Artificial Intelligence (AI) technologies with blockchain systems. The article demonstrates how blockchain technology creates a more secure, efficient, and accessible banking ecosystem while addressing contemporary challenges in financial security and regulatory compliance.
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Copyright (c) 2025 Vishwadeep Saxena (Author)
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