Blockchain-Based Cheque Clearance System using Ethereum for Bank and User Transactions
Keywords:
Fraud Risks, Blockchain, Cheque Clearance, Ethereum, Finance, DecentralizedAbstract
The traditional cheque clearance systems face challenges such as delays in processing, high operationalcosts, and a lack of transparency, often resulting in inefficiencies and fraud risks. To address these issues, a Blockchain-Based Cheque Clearance System Using Ethereum is proposed to revolutionize the banking sector by offering a secure, transparent, and efficient mechanism for cheque transactions between banks and users. This system leverages Ethereum's decentralized blockchain network and smart contracts to automate the clearance process, ensuring faster and tamper-proof transactions. Inspired by the capabilities of blockchain technology, this paper aims to eliminate these drawbacks by decentralizing the cheque clearance system.
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