Blockchain: A Survey on Blockchain Future Shield for Financial Data Security

Abstract: Blockchain technology has emerged as a revolutionary tool in securing financial data by offering decentralization, transparency, and immutability. This paper explores how blockchain enhances data security in financial systems, preventing fraud, cyberattacks, and unauthorized access. It also examines its applications in banking, insurance, and regulatory compliance while addressing challenges like scalability and regulatory uncertainty. Through a survey-based approach, this study aims to understand industry adoption trends and stakeholders’ perceptions of blockchain in financial security.