Blockchain Based Sensitive Attribute Storage and Access Monitoring in Banking System

In earlier banking systems, the data owners were unable to access or update their financial information. Nowadays, user financial information is stored in Cloud storage instead of traditional storage, but security risks are high in financial sectors. Sometimes, Cloud services providers and public auditors modify the user sensitive attribute values. Hence, the decentralized storage system is required for providing better security and integrity of user sensitive attribute values. Blockchain is a decentralized technology for providing tamper-proof storage for sensitive attribute values. Hence, the account holder information is segregated as sensitive and non-sensitive attributes. Before storing into off-chain mode of blocks, the sensitive attributes are grouped into ‘n' number of groups and encrypted by separate group key. The non-encrypted, non-sensitive attributes are stored in cloud storage. The access information is stored in the on-chain mode of the block for easy monitoring. Hence, the security and integrity of sensitive information are preserved.