Leveraging Blockchain Technology for Internet of Things Powered Banking Sector

Nayak, Surekha; Rangasamy, Sangeetha; Chellasamy, Aarthy; Rajamohan, Kavitha; Anuradha, R.

doi:10.1007/978-981-16-9260-4_8

Cited by 7 publications

(4 citation statements)

References 19 publications

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“…Surekha, et.al [2] in order for India to achieve its economic goals, it must allow the banking industry, which accounts for 70% of the country's GDP, to expand by 8-10 times its current rate over the next ten years. This rate of active expansion necessitates a dual engine of advanced technology and a banking system that is tech enabled, scalable, and secure.…”

Section: Related Workmentioning

confidence: 99%

Face Recognition With Hybrid Pin Based Authentication Method for Online Banking Using Iot

2023

IRJMETS

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Many researchers have entered the field due to the significance of security in the authentication process and the rise in threat level provided by such viruses. Since the current password-based authentication paradigms are not effective and robust enough and are also susceptible to automated attacks, many attacks are successful in gaining access to social network accounts. The simplest option is to add other identity components, like onetime PIN numbers, created by the user's own device (like a smartphone) or received via SMS, to the single factor (password-based) authentication procedure. In this project, a novel method using multi-layer-based authentication is proposed to address the problem of shoulder-surfing attacks on authentication schemes. So, implement multiple level different authentication methods in Net banking application to satisfy the privacy requirements. First layer based on Illusion PIN-based authentication method that operates on Net banking Application. Illusion keypad uses the technique to blend two keypads with different digit orderings in such a way, that the user who is close to the device is seeing one keypad to input the PIN whereas the attacker, who is viewing the device from a greater distance, can only see one keypad. OTP verification in reverse order is used as the second layer. Using facial biometrics as a third layer of real-time authentication, which offers fresh approaches to the privacy and security problems, the person is authorized to use the Net banking system. Also provides multi authority based access system. Primary account holder can add secondary user to access banking application. The multi-layer authentication process enabled when user login into the application and also when a transaction is done with multiparty access system.

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Section: Related Workmentioning

confidence: 99%

Face Recognition With Hybrid Pin Based Authentication Method for Online Banking Using Iot

2023

IRJMETS

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“…Transparency fosters trust and confidence by allowing customers to verify the accuracy of their financial records independently and mitigate fraud -related concerns. BCT offers realistic solutions to banking issues (Surekha, Sangeetha, Aarthy, Kavitha, & Anuradha, 2022 ).…”

Section: Design Of Blockchain Technology (Bct) Streamline the User Ex...mentioning

confidence: 99%

The impact of blockchain technology on customer attitude and behavioral intentions in the banking sector

Jayaraman,

Azad,

Ahmed

et al. 2023

5009

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This study examines customer attitudes towards blockchain technology (BCT)-supported banking applications in Oman and explores the relationship between these attitudes and behavioral intentions, highlighting the influencing factors. Blockchain Technology (BCT) has disrupted the banking sector, but understanding customer attitudes towards BCT-supported banking applications and their impact on behavior remains limited. In pursuit of this objective, a quantitative research design was employed, involving the collection of data from retail bank customers in Oman through a structured questionnaire. The collected data underwent rigorous analysis using a robust Structural Equation Model, confirming the constructs' validity, reliability, and distinctiveness. The study uncovered that BCT has a positive impact on various aspects of the banking sector, including customer service quality, regulatory compliance, secured transactions, and cost reduction. By augmenting transparency, efficiency, and trust in banking transactions, BCT significantly improves customer attitudes towards BCT-supported banks. Furthermore, the research reveals that positive attitudes play a pivotal role in influencing customers' intentions to prefer and continue using these blockchain-backed banks. The study also highlights the importance of trust factors and transaction frequency as moderators in shaping customer attitudes and behavioral intentions in this context. The insights gleaned from this research hold practical significance for banks operating in Oman, offering guidance for tailored marketing campaigns, product design, and aligning their offerings with customer expectations in the realm of blockchain-supported banking applications. Additionally, the study provides practical recommendations for the successful implementation and adoption of blockchain-supported financial applications within the banking sector.

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“…The data breach is the most challenging issue in critical infrastructures, e.g., military data [121], connected vehicles [122], banking [123], and healthcare [124]. Blockchain provides data encryption techniques to eliminate the risk associated with data breaches and optimize VANET protocols.…”

Section: Integration Of Federated Learning and Blockchain In Vehicula...mentioning

confidence: 99%

Integration of Blockchain Technology and Federated Learning in Vehicular (IoT) Networks: A Comprehensive Survey

Javed

Hassan

Shahzad

et al. 2022

Sensors

106

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The Internet of Things (IoT) revitalizes the world with tremendous capabilities and potential to be utilized in vehicular networks. The Smart Transport Infrastructure (STI) era depends mainly on the IoT. Advanced machine learning (ML) techniques are being used to strengthen the STI smartness further. However, some decisions are very challenging due to the vast number of STI components and big data generated from STIs. Computation cost, communication overheads, and privacy issues are significant concerns for wide-scale ML adoption within STI. These issues can be addressed using Federated Learning (FL) and blockchain. FL can be used to address the issues of privacy preservation and handling big data generated in STI management and control. Blockchain is a distributed ledger that can store data while providing trust and integrity assurance. Blockchain can be a solution to data integrity and can add more security to the STI. This survey initially explores the vehicular network and STI in detail and sheds light on the blockchain and FL with real-world implementations. Then, FL and blockchain applications in the Vehicular Ad Hoc Network (VANET) environment from security and privacy perspectives are discussed in detail. In the end, the paper focuses on the current research challenges and future research directions related to integrating FL and blockchain for vehicular networks.

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Leveraging Blockchain Technology for Internet of Things Powered Banking Sector

Cited by 7 publications

References 19 publications

Face Recognition With Hybrid Pin Based Authentication Method for Online Banking Using Iot

Face Recognition With Hybrid Pin Based Authentication Method for Online Banking Using Iot

The impact of blockchain technology on customer attitude and behavioral intentions in the banking sector

Integration of Blockchain Technology and Federated Learning in Vehicular (IoT) Networks: A Comprehensive Survey

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