Block chain-Enhanced Security for Financial Institution Electronic Records Management System

Abstract

With an emphasis on banking systems, this article explores how blockchain technology can be used to manage electronic records in the financial sector. This research looks at how well blockchain-based solutions work for ERM in terms of improving privacy, security, and data integrity. The research emphasizes the significance of cryptographic techniques, consensus protocols, access controls, and data integrity measures in guaranteeing the secrecy and dependability of financial data through a thorough examination of these components. In comparison to other studies, this one shows a small drop in accuracy with a precision ratio of. Blockchain technology has the potential to greatly improve the safety of financial institutions' electronic records, as this ratio is still very high. While there is certainly space for development, the results show that blockchain-based solutions have potential to strengthen the reliability and honesty of monetary systems.