Blockchain based e-Cheque Clearing Framework

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Nikita Singh
Tarun Kumar
Manu Vardhan

Abstract

This research work proposes a novel and comprehensive electronic cheque transactions framework. The proposed e-cheque system is free from the various security attacks such as alteration of the e-cheque, double spending of e-cheque, counterfeits e-cheques. The e-cheque generated in the proposed system can be deposited electronically or physically via teller machines. This facility provides greater flexibility to the customers of the banking system. The proposed system also provides space for professional miners to participate in the e-cheque transaction system by performing mining's and earn incentives. As the customer's perspective of security, the proposed system uses digital signature and cryptographic hash in each transaction hence it is a completely secure system. The existing CTS based cheque clearance request requires at least one day to clear a cheque which could extend to two or three days but the proposed system requires only 1.65 seconds for clearing any e-cheque.

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Section
Research paper
Author Biographies

Nikita Singh, CSED, NIT Raipur, India

Nikita Singh received her Bachelor’s degree in Computer Science & Engineering from Abdul Kalam Technical University, Lucknow, India in 2015 and M.Tech. in Computer Science and Engineering from Banasthali University Rajasthan, India in 2018. She is currently pursuing Ph.D. degree in Computer Science and Engineering at National Institute of Technology Raipur, Raipur, India. Her research interests include image processing, computer vision and blockchain technology. She has published over 05 SCI and Scopus indexed research articles in International conferences and Journals.

Manu Vardhan, CSED, NIT Raipur, India

Dr. Manu Vardhan received his Ph.D. degree from Motilal Nehru National Institute of Technology Allahabad, Allahabad, India in 2013. Present he is working as Assistant professor in National Institute of Technology Raipur. He has published more than 50 research articles in various SCI and Scopus indexed journals and conferences. His research interest includes distributed computing, service oriented architecture (SOA), blockchain technology.