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Utilisation of Blockchain Technology for KYC process for banks in India using Aadhar Number

Ramchandran, Roshan (2019) Utilisation of Blockchain Technology for KYC process for banks in India using Aadhar Number. Masters thesis, Dublin, National College of Ireland.

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Abstract

As the economy of India is growing day-by-day, more people have started using its financial services i.e. it is becoming more financially inclusive. As a result, the Know Your Customer (KYC) process has to be both time and cost efficient. It is a mandatory process that has to be followed by every bank for every customer that wants to avail their services. However, the customer has to follow the same process again if they intend to work with another bank. The main objective of this research is to propose a smart contract based blockchain model which will reduce the time and cost involved in the KYC process. The proof of identity that has been considered for this research is a 12-digit unique Aadhar number which contains the customer’s personal information including their biometrics. The smart contract would allow the KYC details of the customer to be shared with other banks so that they do not have to do the KYC again. The whole system would be under the supervision of the national regulator of India i.e. Reserve Bank of India.

Item Type: Thesis (Masters)
Subjects: Q Science > QA Mathematics > Electronic computers. Computer science
T Technology > T Technology (General) > Information Technology > Electronic computers. Computer science

Q Science > QA Mathematics > Computer software
T Technology > T Technology (General) > Information Technology > Computer software

H Social Sciences > HG Finance > Banking > E-banking
Divisions: School of Computing > Master of Science in FinTech
Depositing User: Dan English
Date Deposited: 03 Jun 2020 09:41
Last Modified: 03 Jun 2020 09:41
URI: http://trap.ncirl.ie/id/eprint/4225

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