SURVEY PAPER ON CURRENT BLOCKCHAIN SOLUTIONS FOR SECURE BANKTRANSACTIONS

Blockchain has been seeing a great deal of popularity in recent years. The technology is considered revolutionary for its ability to provide security and trust in even the most anonymized networks and environments. It does by providing a distributed immutable ledger where any kind of information and can stored and shared in a safe way. However, despite its promising feature set we are still yet to see Blockchain adopted on a wide scale for applications that strongly benefit from the mentioned feature set. One such example of this is Bank Transactions, which are still managed by Banks using the standard centralized servers.Sowhy is Blockchain not seeing widespread adoption in this area despite the clear benefits it provides. In this survey paper, we review various implementations of Blockchain as of the year 2020 and try and provide an explanation as to why each of these implementations is unable to fit all the criteria needed for it to be used in the area of secure bank transactions.