Blockchain-based smart contracts technology for enhancing banking services | ||||
| مجلة البحوث الإدارية | ||||
| Volume 43, Issue 1, January 2025 PDF (601.98 K) | ||||
| Document Type: المقالة الأصلية | ||||
| DOI: 10.21608/jso.2024.278140.1274 | ||||
 View on SCiNiTO | ||||
| Author | ||||
Hany Elsaeed 
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| Grand Citye - C5 ElMaadi | ||||
| Abstract | ||||
| A Blockchain-based smart contract is a stored code to represent a contract between different parties; it executes automatically when predetermined terms and conditions are met. The smart contract resides on a blockchain shared by participants and hence guarantees exact execution of transactions and keeps immutable transaction records. The smart contract has a lot of advantages such as decentralization and distributed ledger which facilitates a direct communication between different parties in a network, trustworthy and transparency. The direct communication feature leads to Peer-To-Peer based transaction that removes a high cost and overheads needed for handling transactions that require intermediate. Banks - as financial institutions- use such type of transactions in different areas of their business especially for the areas where require interaction between many parties such as trade finance transaction. So One of the potential incentives for banks in case of the development of distributed blockchain technologies for these types of transactions involves the reduction of overhead and costs associated with audit and regulation. In addition, more automation and efficiency in transaction processing, clearing and reconciliation can help to reduce counterparty credit risks. This paper discuss the concept of smart contract blockchain based technology and its potential to disrupt the world of banking through facilitating complicated banking transactions The implementation of smart contract application will use an Ethereum platform and Solidity language. The Ethereum is a block chain technology that provides an open global computing platform, called the Ethereum Virtual Machine (EVM), | ||||
| Keywords | ||||
| Blockchain; Ethereum; EVM; Smart contracts; Solidity | ||||
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