Intelligent Blockchain-Based Secure Framework for Transaction in Mobile Electronic Payment System

Dublin Core

Title

Intelligent Blockchain-Based Secure Framework for Transaction in Mobile Electronic Payment System

Subject

Mobile Payment; Blockchain; Secure; transaction; fast

Description

The rate of smartphone purchases is rising daily, and mobile payments are now frequently accepted in various areas. It is essential to transfer money completely safe as well as quick. The encrypted distributed ledgers function provides verified real-time transaction confirmation without the necessity for intermediaries like banks and clearinghouses; blockchain provide quick, secure, decentralized, and inexpensive transaction services. Blockchain technology makes money transfer simpler with transparency and financial data security. Through these capabilities, blockchain has attracted interest from around the world. However, some challenges arise while completing some financial security needs. This work proposes a framework for secure mobile payments based on blockchain technology. The advantages of blockchain are discussed and how blockchain technology provides multi-level authentication to secure mobile based financial transactions. Due to the increased safety and confidentiality of users on mobile payment apps, the suggested system takes into account the need of developing a safe application for the mobile transactions. We have also addressed the security related challenges of blockchain based payment applications and provided potential solutions.

Creator

Adil. O. Y. Mohamed

Source

International Journal of Interactive Mobile Technologies (iJIM); Vol. 17 No. 04 (2023); pp. 37-46
1865-7923

Publisher

International Association of Online Engineering (IAOE), Vienna, Austria

Date

2023-02-23

Rights

Copyright (c) 2023 Adil. O. Y. Mohamed
https://creativecommons.org/licenses/by/4.0

Relation

Format

application/pdf

Language

eng

Type

info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article

Identifier

Citation

Adil. O. Y. Mohamed, Intelligent Blockchain-Based Secure Framework for Transaction in Mobile Electronic Payment System, International Association of Online Engineering (IAOE), Vienna, Austria, 2023, accessed November 5, 2024, https://igi.indrastra.com/items/show/2500

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