Crypto Wallet: A Perfect Combination with Blockchain and Security Solution for Banking
Nagendra Singh Yadav, Vishal Kumar Goar, Dr. Manoj Kuri
A Bank is a financial institution which receives deposits and grant loans to its stakeholders.
Finance is a stream of banking that involves settlement and controls the withdrawal and deposits. When a currency
in the form of cash is deposited into a bank, it is taken care of by the finance process.E-wallets become a traditional
method of banking these days since we have entered the age of digital banking, with which we can see a number of
security loopholes specific to payment gateways, where the hackers steal the money from credit or debit cards by
diverting the OTP to themselves. It all starts with a minimum amount, but the impact is bigger when the pertransaction amount is increased, by every attempt. The SIM clone is another problem area, which needs to get fixed
these days. Using SIM clone, anyone can steal money from a user’s account, if or not you are using online
banking.This research paper touches on how effectively the banking system can handle frauds related to
transactions by ensuring authenticity with the implementation of the system powered by blockchain.