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Title: :  Blockchain-Based Decentralized Transaction Settlement System
PaperId: :  21934
Published in:   International Journal Of Advance Research And Innovative Ideas In Education
Publisher:   IJARIIE
e-ISSN:   2395-4396
Volume/Issue:    Volume 9 Issue 6 2023
DUI:    16.0415/IJARIIE-21934
Licence: :   IJARIIE is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Author NameAuthor Institute
Rahinj Pratiksha YuvrajParikrama College Of Engineering, Kashti
Shirke Vaishnavi ArvindParikrama College Of Engineering, Kashti
Supekar Vaibhav NandkumarParikrama College Of Engineering, Kashti
Udamale Dipak HanumantParikrama College Of Engineering, Kashti
Suryavanshi Arti PrashantParikrama College Of Engineering, Kashti

Abstract

Computer Engineering
Blockchain; Banking System; Cryptography
The banking sector has witnessed a paradigm shift with the emergence of blockchain technology, which offers a secure and transparent platform for financial transactions. This abstract provides a concise overview of a blockchain-based decentralized transaction settlement system, highlighting its significance, benefits, and potential impact on the banking industry. In today's traditional banking systems, transaction settlement processes are often cumbersome, time-consuming, and prone to errors. The advent of blockchain technology has enabled the development of decentralized transaction settlement systems, revolutionizing the way banks handle financial transactions. This system leverages the principles of blockchain, such as decentralization, immutability, and cryptographic security, to streamline transaction processes and enhance overall efficiency. Key advantages of this blockchain-based system include enhanced security through cryptographic encryption, reduced settlement times, lower transaction costs, and increased transparency. Transactions are recorded on an immutable ledger shared across the network, mitigating the risk of fraud and errors while maintaining a comprehensive and tamper-proof record of all financial activities. In conclusion, a blockchain-based decentralized transaction settlement system holds immense promise for the banking sector. Its innovative approach to secure, efficient, and transparent transactions has the potential to reshape the industry and benefit both financial institutions and their customers, ushering in a new era of banking efficiency and trust.

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IJARIIE Rahinj Pratiksha Yuvraj, Shirke Vaishnavi Arvind, Supekar Vaibhav Nandkumar, Udamale Dipak Hanumant, and Suryavanshi Arti Prashant. "Blockchain-Based Decentralized Transaction Settlement System" International Journal Of Advance Research And Innovative Ideas In Education Volume 9 Issue 6 2023 Page 166-172
MLA Rahinj Pratiksha Yuvraj, Shirke Vaishnavi Arvind, Supekar Vaibhav Nandkumar, Udamale Dipak Hanumant, and Suryavanshi Arti Prashant. "Blockchain-Based Decentralized Transaction Settlement System." International Journal Of Advance Research And Innovative Ideas In Education 9.6(2023) : 166-172.
APA Rahinj Pratiksha Yuvraj, Shirke Vaishnavi Arvind, Supekar Vaibhav Nandkumar, Udamale Dipak Hanumant, & Suryavanshi Arti Prashant. (2023). Blockchain-Based Decentralized Transaction Settlement System. International Journal Of Advance Research And Innovative Ideas In Education, 9(6), 166-172.
Chicago Rahinj Pratiksha Yuvraj, Shirke Vaishnavi Arvind, Supekar Vaibhav Nandkumar, Udamale Dipak Hanumant, and Suryavanshi Arti Prashant. "Blockchain-Based Decentralized Transaction Settlement System." International Journal Of Advance Research And Innovative Ideas In Education 9, no. 6 (2023) : 166-172.
Oxford Rahinj Pratiksha Yuvraj, Shirke Vaishnavi Arvind, Supekar Vaibhav Nandkumar, Udamale Dipak Hanumant, and Suryavanshi Arti Prashant. 'Blockchain-Based Decentralized Transaction Settlement System', International Journal Of Advance Research And Innovative Ideas In Education, vol. 9, no. 6, 2023, p. 166-172. Available from IJARIIE, https://ijariie.com/AdminUploadPdf/Blockchain_Based_Decentralized_Transaction_Settlement_System_ijariie21934.pdf (Accessed : ).
Harvard Rahinj Pratiksha Yuvraj, Shirke Vaishnavi Arvind, Supekar Vaibhav Nandkumar, Udamale Dipak Hanumant, and Suryavanshi Arti Prashant. (2023) 'Blockchain-Based Decentralized Transaction Settlement System', International Journal Of Advance Research And Innovative Ideas In Education, 9(6), pp. 166-172IJARIIE [Online]. Available at: https://ijariie.com/AdminUploadPdf/Blockchain_Based_Decentralized_Transaction_Settlement_System_ijariie21934.pdf (Accessed : )
IEEE Rahinj Pratiksha Yuvraj, Shirke Vaishnavi Arvind, Supekar Vaibhav Nandkumar, Udamale Dipak Hanumant, and Suryavanshi Arti Prashant, "Blockchain-Based Decentralized Transaction Settlement System," International Journal Of Advance Research And Innovative Ideas In Education, vol. 9, no. 6, pp. 166-172, Nov-Dec 2023. [Online]. Available: https://ijariie.com/AdminUploadPdf/Blockchain_Based_Decentralized_Transaction_Settlement_System_ijariie21934.pdf [Accessed : ].
Turabian Rahinj Pratiksha Yuvraj, Shirke Vaishnavi Arvind, Supekar Vaibhav Nandkumar, Udamale Dipak Hanumant, and Suryavanshi Arti Prashant. "Blockchain-Based Decentralized Transaction Settlement System." International Journal Of Advance Research And Innovative Ideas In Education [Online]. volume 9 number 6 ().
Vancouver Rahinj Pratiksha Yuvraj, Shirke Vaishnavi Arvind, Supekar Vaibhav Nandkumar, Udamale Dipak Hanumant, and Suryavanshi Arti Prashant. Blockchain-Based Decentralized Transaction Settlement System. International Journal Of Advance Research And Innovative Ideas In Education [Internet]. 2023 [Cited : ]; 9(6) : 166-172. Available from: https://ijariie.com/AdminUploadPdf/Blockchain_Based_Decentralized_Transaction_Settlement_System_ijariie21934.pdf
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