Block Chain Technologies for Fund Release as Finality in Financial Transaction
M.V. Ranjith Kumar1, Swathi Singh, Mueen Ahmed2, Bhandarkar Prasad Prashant3, N. Bhalaji4
1M.V. Ranjith Kumar, Assistant Professor, Department of Computer Science and Engineering, SRM Institute of Science and Technology, Kattankulathur Chennai, India.
2Swathi Singh, Research scholar, Department of Computer Science and Engineering, SKR Engineering College, Nazarathpettai, Poonamallee, Chennai, India.
3Mueen Ahmed, Student, Department of Computer Science and Engineering, SRM Institute of Science and Technology, Kattankulathur Chennai, India.
4Bhandarkar Prasad Prashant, Student, Department of Computer Science and Engineering, SRM Institute of Science and Technology, Kattankulathur Chennai, India.
N. Bhalaji, Associate Professor, Department of Computer Science and Engineering, SSN College of Engineering, Kalavakkam, Tamil Nadu, India.
Manuscript received on 04 May 2019 | Revised Manuscript received on 09 May 2019 | Manuscript Published on 13 May 2019 | PP: 46-49 | Volume-8 Issue-7S May 2019 | Retrieval Number: G10100587S19/19©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: We think about that the primary standard of blockchain is changelessness; legitimate and secure exchanges that can never be deleted or overlooked and altered .Each party in the process such as broker, custodian or the settlement manager keeps their own record which creates room for error. P2P lending is growing enormously in personal finance. Now both borrowers and lenders are connected to each other via Block chain. A secure, modern, digital system is required to overcome the errors and to prevent them from re-occurring. This project tries to provide a solution to this problem by drawing inspiration from Blockchain Technology. Utilizing blockchain in exercises identified with exchange can kill the requirement for middle people; diminish operational dangers, while giving the framework to quicker exchange settlement. We are organizing the utilization of blockchain based innovation since they have inbuilt attributes to track, square and report ill-conceived endeavors made by anybody on the system, and can give a stage to actualize the security strategy and gauges. This paper aims at establishing a secure private trade network where the exchange of assets between parties takes place.
Keywords: Block chain, Multi Chain, Transaction Finality, Digital Signature, Decentralized Governance, Asset Exchange.
Scope of the Article: Computer Science and Its Applications