Blockchain and Cybersecurity: Safeguarding Fintech Transactions in the Digital Age
1 LLM Intellectual Property and Technology Law, University of Illinois, Urbana-Champaign. USA.
2 Information Security and Digital Forensics, University of East London, England, UK.
3 School of Computer Science, University of Guelph, Ontario, Canada.
4 Information Science, Ball State University, Muncie, Indiana, USA.
5 Applied Cybersecurity, Faculty of Computing, Engineering and Science, University of South Wales, UK.
6 Computer Science, Maharishi International University (MIU), Fairfield, IA, USA.
Review Article
World Journal of Advanced Research and Reviews, 2024, 23(03), 1686–1691
Article DOI: 10.30574/wjarr.2024.23.3.2828
Publication history:
Received on 05 August 2024; revised on 14 September 2024; accepted on 16 September 2024
Abstract:
The rise of financial technology (fintech) has revolutionized the way financial transactions are conducted, offering greater efficiency, accessibility, and innovation. However, with these advancements come significant cybersecurity challenges, as the increasing digitization of financial services makes them vulnerable to cyber threats. Blockchain technology, known for its decentralized and immutable nature, has emerged as a promising solution to enhance the security of fintech transactions. This review explores the intersection of blockchain and cybersecurity, examining how blockchain technology can be leveraged to safeguard fintech transactions, the challenges associated with its implementation, and future directions for integrating blockchain into the fintech ecosystem.
Keywords:
Financial Technology (Fintech); Blockchain Technology; Cybersecurity; Cyberattacks; Data Integrity; Regulatory; Compliance; Fraud Prevention.
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Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0