Abstract- In today's climate, the abstract banking industry is a must. The banking sector is prone to fraud and cyber-attacks in today's climate. Because today's banking system is dependent on centralised databases, an attacker may easily breach any of them, exposing all of the bank's clients' data and information. Block chain technology provides a novel way to store and transmit value inside a network by removing the need for a central middleman. Everything is decentralised via Distributed Ledger Technology, and each user is responsible for their own data. As a vital financial middleman, the banking industry offers a wide range of potential uses for block chain technology. Because each node in the chain validates block chain transactions, the transactions will become increasingly safe, making the whole banking system quicker and more secure.
Keywords- Banking, security, transaction, block chain, hash, and decentralised ledger technology are some of the terms used in this article (DLT).
| DOI: 10.17148/IJARCCE.2021.10739