Abstract

Abstract: In public cloud storage system protecting the data and controlling the data access is a challenging issue. People’s lives have been transformed by the rise of digital technology. In today’s environment, the banking sector is vulnerable to fraud and cyber-attacks. Because today’s banking system is based on centralised databases, an attacker can easily breach any of these databases, compromising all of the bank’s customers’ information and data. The vulnerability of today’s banking system can be lessened by re-building it on top of block chain technology, which will eliminate the centralised database architecture and decentralise data over the block chain, minimising the risk of a database being hacked. Because block chain transactions are validated by each and every node in the chain, transactions will become more and more safe, making the overall financial system faster and more secure.Keywords: Secure Hash Algorithm(SHA); Blockchain Technology; Distributed database; Cryptocurrency; Consensus; Security and Protection.