MUMBAI, India, July 24 -- Intellectual Property India has published a patent application (202641085511 A) filed by Malla Reddy Engineering College Women Autonomous; Malla Reddy University; Malla Reddy Mr Deemed To Be University; and Malla Reddy Vishwavidyapeeth Deemed on July 13, 2026, for Blockchain Banking System.
Inventors include Dr. Y. Madhaveelatha; Dr. Venkata Konda Reddy Gajjala; Mr. Durgam Deveder; Mr. Thiyagarajan Jaiganesh; Ms. Durga Hima Bindu Sanagapalli; Dr. B. Jogeswara Rao; Ms. Vyshnava Divya; and Mr. Santi Satyanarayana.
The application for the patent was published on July 17, 2026, under issue no. 29/2026.
Abstract: Blockchain Banking System The present invention relates to a Blockchain Banking System designed to provide a secure, transparent, and decentralized platform for managing financial transactions. Traditional banking systems rely on centralized databases, which are vulnerable to cyberattacks, fraud, data manipulation, and operational inefficiencies. These limitations lead to delays in transaction processing, lack of transparency, and increased dependency on intermediaries. The proposed system utilizes blockchain technology to create a decentralized ledger where all transactions are recorded immutably and transparently. Users can perform secure digital transactions, while an integrated real-time admin dashboard allows financial institutions to monitor activities, verify transactions, and generate reports instantly. The system includes modules such as user authentication, transaction processing, smart contract execution, blockchain ledger storage, and administrative monitoring. Each transaction is encrypted and stored in blocks, ensuring data integrity and preventing unauthorized modifications. The Blockchain Banking System enhances operational efficiency, reduces fraud risks, eliminates intermediaries, and enables real-time auditing. The scalable architecture allows integration with existing banking systems, fintech platforms, and digital payment infrastructures.
Disclaimer: Curated by HT Syndication.
