The Impact of Blockchain Technology on Data Security in Financial Transactions
Keywords:
blockchain, data security, financial technology, digital transactions, decentralization, fintechAbstract
The increasing reliance on digital infrastructure in financial sectors has intensified concerns over data security and transaction integrity. Blockchain technology, originally devised for cryptocurrency, has emerged as a transformative tool that addresses these concerns by providing a decentralized, immutable, and transparent framework for conducting financial operations. This study examines the impact of blockchain technology on enhancing data security within financial transactions. By analyzing existing financial systems, exploring case studies of blockchain implementation, and reviewing empirical data, the paper highlights blockchain’s capabilities in reducing fraud, improving data traceability, and enhancing user trust. The research concludes that while blockchain is not a panacea, its integration significantly strengthens the security infrastructure of modern financial systems.
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