Financial Data Security And Transparency With Blockchain Training Ppt

Slide 1

This slide gives an overview of data security basics and its importance in the finance sector since banking institutions are top targets as their databases are of value to hackers and cyber criminals.

Slide 2

This slide lists advantages that blockchain technology offers in terms of data security. These benefits include challenging vulnerabilities, offering encryption & validation, infeasible to attack, and secure data storage.

Instructor’s Notes: 

• Challenging Vulnerabilities: A distributed ledger system such as blockchain with its high level of security is beneficial in constructing a secure data network. It enables you to stay competitive without relying on a third party
• Offers Encryption & Validation: Blockchain technology is equipped to handle data security and ensure that data is not tampered with. Since blockchain is encrypted by nature, it can provide sufficient validation
• Infeasible to Attack: The data may be trusted since blockchain is decentralised, encrypted, and cross-checked. As blockchain is so densely packed with nodes, hacking the majority of them simultaneously is almost impossible
• Secure Data Storage: The best method to encrypt the data of a shared community will be to use blockchain. Nobody can access or tamper with any sensitive data that is maintained using blockchain's capabilities. Handling data that is spread over a network of individuals is always an advantage

Slide 3

This slide gives an overview of transparency in finance. It explains the process as it manifests within a financial institution to underscore its importance.

Slide 4

This slide highlights the enhanced transparency that blockchain introduces in the conventional financial system. Transparency in blockchain refers to the ability to examine public addresses from which you may obtain transaction history, assets, and other information without any restrictions or constraints. This level of transparency has never been seen before in any financial system.

Slide 5

This slide talks about the Wells Fargo scandal that involved the creation of around 2 million unauthorized customer accounts that employees created to meet sale targets. Transparency was non-existent, and blockchain technology could have prevented this; at the very least, the fraud could have been detected earlier.