A Secure E-wallet System Using Block Chain

Abstract

In 2016, the Indian government, diode by Prime Minister Narendra Singh Modi, academic degree announced that the nations two highest-denomination bank notes would stop to be legal tenders. At the time, the two denominations accounted for roughly eighty 600 of cash in circulation in India. those that possessed the banknotes were to deposit them among the bank. With the move, the Indian government aimed to penalize tax evaders wanting back. The logic was that people with hoards of black money would have to be compelled to answer queries if they tried to deposit the demonetized banknotes. Banking and technology unit really closely associated and innovations have changed banking drastically over the number of it slow. The digital innovations among the banking sector started with the introduction of money that replaced the barter system then the gradual replacement of wax seal with digital signatures. One such troubled innovation that's dynamic the banking sector globally is Block chain Technology (BCT). Block chain is shared distributed ledger that stores business group action to a permanent unbreakable chain which may be viewed by the parties during a group action. Block chain technology has the potential to disrupt the nancial business applications because it provides permanent and tamper proof recording of transactions during a distributed network.