Trusted Framework for Online Banking in Public Cloud Using Multi-Factor Authentication Using Block-Chain Framework

Trusted Framework for Online Banking in Public Cloud Using Multi-Factor Authentication Using Block-Chain Framework

Nikita Dhakad¹, Himanshu Jagtap², Vedant Bhosale³, Prof. Prakash Kshirsagar⁴

¹Student, Bachelors in Engineering, Department of Computer Engineering, Nutan Maharashtra Institute of Engineering and Technology Talegaon, Maharashtra, India.

²Student, Bachelors in Engineering, Department of Computer Engineering, Nutan Maharashtra Institute of Engineering and Technology Talegaon, Maharashtra, India.

³Student, Bachelors in Engineering, Department of Computer Engineering, Nutan Maharashtra Institute of Engineering and Technology Talegaon, Maharashtra, India.

⁴Professor, Department of Computer Engineering, Nutan Maharashtra Institute of Engineering and Technology Talegaon, Maharashtra, India.

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Abstract - There are always potential hazards from hackers, adware, malware, and viruses. Many big international corporations have experienced hacking and security breaches in the previous few years. In certain instances, this has resulted in the leakage of private and confidential information, such as bank account information, addresses, and transactions, but there are security measures in place that can block these things before they get too close to the company's private data. This is crucial for both secrecy and to avoid paying the steep fines levied on businesses that fail to adequately safeguard customer information. The project is a verification mechanism that only allows users with the proper input credentials to access the system. The project involves modules or user certificates. Security credentials come in a variety of forms. Thus, we incorporate a unique blockchain for banking security and user authentication in this proposed methodology. This degree of authentication reduces the possibility of hacking and the loss of sensitive data. Also, in the current environment, safer bank transactions are necessary due to advancements in security technologies. They have also made advances into industries, healthcare, telecommunications, and home automation, among others. A distributed ledger is basically what a blockchain is. It can keep information about who owns a certain piece of property or, for example, a bond. A permanent record of ownership can be maintained using technology, which also makes it possible for parties with a low level of trust to exchange the asset.

Key Words:  Custom Blockchain, Distributed Ledger, Authentications, Confidentiality, Transactions, Security System, Credentials, Banking Security, etc.