Integrating Blockchain with Database Management Systems for Secure Accounting in the Financial and Banking Sectors
DOI:
https://doi.org/10.46243/jst.2023.v8.i9.pp09-27Keywords:
Blockchain, Cloud-based systems, Financial security, Data privacy, Nudge theory, Open banking.Abstract
The research aims to improve financial security in the national health insurance market by integrating blockchain technology with cloud-based technologies. The research goals are to provide financial transparency in health insurance schemes, minimise fraud, and improve data privacy. The suggested method offers a solid response to the present problems with financial management in the healthcare industry by utilising the benefits of blockchain technology, such as tamper-proof data storage and decentralised transaction confirmation. The study also looks at how the Nudge theory might help consumers make wise privacy choices while upholding high standards of security and confidence in open banking systems. In-depth reviews of previous research, case studies, and assessments of the functionality of current systems are all part of the methodology. The results show that integrating blockchain with cloud computing can greatly increase the security and efficiency of financial transactions related to health insurance. However, issues remain to be resolved, including blockchain connection with current systems, regulatory compliance, and technological adoption. Recommendations for further research and real-world applications are included in the study's conclusion to maximise blockchain's utility in the financial industry, especially concerning national health insurance.
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