Integrating Blockchain Technology in FinTech Database Systems: A Security and Performance Analysis
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This research analyzes FinTech database systems' blockchain integration for security and performance. The main goals are to examine blockchain's security advancements and financial application performance. The study synthesizes blockchain technologies, security features, transaction speeds, scalability, and interoperability literature via secondary data review. Blockchain's decentralization, immutability, and cryptography improve security, minimizing weaknesses in conventional financial systems. However, public blockchains have transaction speed and scalability issues. Layer 2 solutions and different consensus processes may improve performance. The paper emphasizes the need for clear legislative frameworks to encourage interoperability and industry standards. Policy implications show that authorities must balance innovation and consumer protection and promote stakeholder engagement to handle blockchain integration. This paper adds to the discussion on using blockchain technology to improve FinTech security and efficiency and provides avenues for sustainable development and regulatory alignment.
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