Visual Cryptography and Steganography in Blockchain for Secure Banking Transaction Recording by IRJET Journal

Visual Cryptography and Steganography in Blockchain for Secure Banking Transaction Recording

Km Shweta1 , Sambhav Agrwal2

1M.Tech. (CSE) Scholar, Department of Computer Science and Engineering, S. R. Institute of Management and Technology Lucknow, Uttar Pradesh, India

2Assistant Professor, Department of Computer Science and Engineering, S. R. Institute of Management and Technology Lucknow, Uttar Pradesh, India ***

Abstract: The rapid advancement of digital technologies has transformed the financial sector, introducing both opportunities and security challenges. Blockchain technology, while providing transparency and security, still faces vulnerabilities in certain areas, including transaction privacy and data integrity. Visual cryptography (VC) and steganography offer unique methods to further enhance security, especially in banking transactions. Visual cryptography uses multiple shares to encrypt images in a way that can only be decrypted visually, while steganography hides secret data within a cover medium, such as images or audio. This paper explores the integration of these techniques with blockchain technology to provide enhanced securityforbankingtransactionrecording.Bycombining these advanced cryptographic and encoding methods with blockchain’s decentralized, immutable nature, this approach promises a higher level of privacy and data protection for financial transactions. We present a theoretical model for integrating VC and steganography into blockchain, discuss its potential applications, and analyzethechallengesandbenefitsofsuchasystem.

Keywords- Blockchain technology, steganography, cryptographic and encoding methods, Visual cryptography(VC)etc.

1. Introduction

The advent of digital banking has revolutionized the financial industry, making transactions faster, more efficient, and more accessible. However, the rapid shift towards digital systems has also introduced a host of security challenges, particularly concerning the privacy and integrity of sensitive financial data. Blockchain technology has emerged as a robust solution for addressing some of these challenges. By providing a decentralized, immutable, and transparent ledger for recording transactions, blockchain ensures that once data is recorded, it cannot be altered or tampered with, which is a fundamental attribute for securing financial transactions. Yet, despite these advantages, blockchain’s transparency can sometimes pose a risk to the confidentiality of transaction data. In a financial

environment, where privacy is crucial, exposing transaction details such as sender and receiver information,amounts,andtimestampstoallparticipants intheblockchainnetworkmaynotbedesirable.

This concern has led to the exploration of advanced cryptographic techniques such as Visual Cryptography and Steganography to complement blockchain’s security features. Visual Cryptography (VC) is a techniquethatencryptsdataintovisualimages,dividing itintomultipleshares,wherethesecretdataisrevealed only when the shares are combined. This offers a novel way of ensuring that sensitive information remains hidden from unauthorized access while still being accessible to the authorized parties. On the other hand, Steganography provides a mechanism for hiding information within seemingly innocuous data such as an image or a file making it imperceptible to an observer without the appropriate key or method to decodeit.

By integrating Visual Cryptography and Steganography with Blockchain, this paper explores a potential solution to the problem of secure banking transaction recording, combining the strengths of all three technologies to create a more secure, private, and tamper-proof system for financial transactions. This integrationwouldallowfortheconcealmentofsensitive transaction details in ways that are both visually secure and difficult to detect, ensuring that banking data remains private even on a public, decentralized blockchainledger.

The primary objective of this research is to investigate how Visual Cryptography and Steganography can be utilized in conjunction with Blockchain technology to enhance the security and confidentiality of banking transactions. This paper will delve into the theoretical foundations of these techniques, their applications within the context of blockchain, and the potential challenges and benefits associated with their implementation in securing banking transactions. Additionally, this study aims to propose a practical model that integrates these methods into blockchain-

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basedfinancialsystems,offeringinsightsintohowsucha hybrid approach can be adopted in real-world banking environments.

As digital banking continues to grow, ensuring that customer data and transaction details remain secure is more critical than ever. Through this integration of Visual Cryptography and Steganography with Blockchain, the financial industry could potentially achieve a higher standard of data security and confidentiality, fostering greater trust and resilience in digitalbankingsystems.

1.1.Background

 Visual Cryptography: A technique that allows the encryption of an image into multiple shares, which whenoverlaid,revealtheoriginalimage.Itprovides avisuallysecureencryptionschemethatrequiresno computational decryption effort, making it particularly useful in scenarios where user access mustbeeasyandsecure.

 Steganography:Amethodofconcealingsecretdata within another medium, often an image, audio, or video file. Steganography in blockchain would enabletheembeddingofprivatebankingdatawithin publicly visible transaction data, thereby enhancing confidentiality.

 Blockchain: A distributed ledger technology that ensures data integrity, transparency, and security through decentralization. While blockchain enhances transaction security, the confidentiality of transactiondataremainsanareaforimprovement.

1.2.ResearchProblem

With the increasing frequency of cyberattacks on the banking sector, there is a critical need for enhanced security measures. While blockchain provides inherent security features such as immutability and decentralization, it does not inherently address issues related to data confidentiality. Integrating Visual Cryptography and Steganography into blockchain could provide an innovative solution to enhance transactionprivacy.

1.3.Objectives

 To explore how Visual Cryptography and Steganography can be applied to blockchain to ensuresecurebankingtransactionrecording.

 Topresentatheoreticalmodelofa securebanking system integratingthesetechnologies.

 To assess the potential benefits and challenges of combiningthesetechniqueswithblockchain.

2. Literature Review

The integration of Visual Cryptography and Steganography with Blockchain technology for enhancing the security of banking transactions is a relatively novel area of research that brings together cryptographic techniques and distributed ledger technologies.Thissectionreviewstherelevantliterature on each of these topics individually and explores their combined application to secure digital banking transactions.

2.1. Blockchain Technology and Its Role in Secure Transactions

Blockchain technology was first introduced in 2008 by Satoshi Nakamoto as the underlying framework for Bitcoin, a decentralized digital currency (Nakamoto, 2008). Since then, it has gained widespread attention and adoption across various industries, especially in financial sectors, for its ability to provide a secure, transparent, and immutable record of transactions. The key features of blockchain decentralization, transparency, and immutability make it an attractive optionforsecuretransactionrecording.

Inthebankingsector,blockchain’stransparencyensures that all transactions are publicly verifiable while maintaining the integrity of the data by preventing tamperingorunauthorizedmodifications.Thisfeatureis particularlyimportantforpreventingfraudandensuring trust in financial transactions. However, blockchain's public nature also raises concerns about privacy, as sensitive transaction details are visible to all network participants, which can potentially expose private financialinformation(Zohar,2015).

Researchers have proposed various privacy-enhancing techniques to address this issue, including zeroknowledge proofs, confidential transactions, and mixingprotocols (Ben-Sassonetal.,2014;Narayananet al.,2016).Thesemethodsaimtokeeptransactiondetails private while leveraging blockchain’s transparent and immutable nature for verification. However, there is a need for additional layers of encryption that provide a moreuser-friendlyandvisuallysecurewayofprotecting sensitivedata.

2.2.VisualCryptography

Visual Cryptography (VC) is a cryptographic technique thatencodesinformationintoanimageformatinsucha way that the original information can only be visually reconstructed when two or more encrypted images (shares) are combined. Unlike traditional cryptography, which requires computational decryption, VC allows informationtobedecryptedvisually.Thisfeaturemakes

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VC particularly appealing in situations where accessibilityiscrucialandwhereusersmaynothavethe necessary computational resources to handle complex cryptographicoperations.

Thefirstformaldescriptionof VisualCryptography was proposed by Shamir in 1994, where he introduced the conceptofdividinganimageintoseveralshares(Shamir, 1994). Each share is a random-looking image, and only bystackingthesesharestogethercantheoriginalimage berevealed.ThemainadvantageofVCisthatitdoesnot require any complex algorithms to decrypt the information. This makes it suitable for situations where simplicityandaccessibilityareessential.

VC has been applied in various fields, including authentication, secure document sharing, and digital watermarking (Atallah et al., 1995). In the context of blockchain and banking transactions, VC can be used to encode sensitive transaction information such as the account numbers, transaction amounts, and user authentication data. The encrypted data would be split into multiple shares, and only authorized parties possessing the correct shares would be able to visually reconstruct the original transaction details. This visual securityensuresthatevenifoneshareisintercepted,the information remains secure unless the attacker can obtaintheadditionalshares.

Some notable works on VC applications include Naveh et al. (2011), who explored the use of VC for secure document sharing, and Das et al. (2018), who investigateditspotentialforsecuringonlinetransactions indigitalenvironments.

2.3.Steganography

Steganography is the practice of hiding secret informationwithinanon-suspiciouscovermedium,such as an image, audio, or video file, in a way that prevents thedetectionofthehiddendatabyunauthorizedparties. Unlike encryption, which transforms data into unreadable formats, steganography seeks to keep the existence of the secret information hidden from the observer.

In blockchain-based systems, steganography can be employed to embed sensitive transaction data, such as account numbers, transaction amounts, or private keys, withintheblockchain’spubliclyvisibledata(Zhangetal., 2017).Thistechniqueoffersalayerofconfidentialityby makingthesensitivedataimperceptibletounauthorized users. The data is encoded in the least significant bits (LSBs)of blockchain transaction metadata or within the content of a digital image embedded in the blockchain, ensuring that the hidden information is undetectable by simpleinspection.

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Several works have explored the use of steganography in blockchain for various purposes, including the embeddingoftransactiondetails(Zhangetal.,2017)and secure messaging (Wang et al., 2018). In a blockchain network, where all participants have access to the transaction data, embedding sensitive information within a cover medium ensures that even though the blockchainremainstransparent,theactualsensitivedata remainsconfidentialandsecure.

A notable application in banking could involve embeddingtransactionmetadatawithintheblockchain’s public transaction records without exposing it directly. This technique could hide sensitive financial information,suchastransactionamountsoruserdetails, within the transaction records themselves, thereby preservingprivacywhileensuringtransactionintegrity.

2.4. Integration of Visual Cryptography and SteganographywithBlockchain

Combining Visual Cryptography and Steganography with Blockchain technology is an emerging area of research that aims to provide a secure, private, and tamper-proof environment for financial transactions. Theideaistoleverageblockchain'simmutableledgerfor transparency and security while using visual cryptography and steganography to protect the confidentialityofthetransactiondata.

The integration of these techniques involves several steps:

1. Visual Cryptography is used to split sensitive transaction data (e.g., amounts, account numbers)intomultipleshares.

2. Steganography isthenemployedtoembedone ofthesesharesintotheblockchain'stransaction metadata,whiletheothershareisheldsecurely bytheauthorizedparties.

3. Only authorized individuals with the correct share can reconstruct the original transaction informationbycombiningtheshares.

This hybrid model offers a multi-layered security approach, where both encryption and hidden communication techniques are employed to secure sensitive banking data. Research has demonstrated the feasibilityofsuchintegrations.Forexample, Guptaet al. (2020) demonstrated the use of steganographic techniques to embed private keys within blockchain transactions without compromising the integrity of the ledger.Similarly, Cai et al. (2019) proposedacombined approach using VC and steganography to enhance the privacy and confidentiality of sensitive financial data storedonblockchainplatforms.

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The combination of VC and Steganography with blockchain's decentralized features ensures that transaction details remain encrypted, hidden, and tamper-proof. This integration could be a significant advancementinsecuringdigitalbankingsystems,where privacyconcernsareparamount.

3. Visual Cryptography and Steganography in Blockchain for Secure Banking Transaction Recording

The advent of blockchain technology has reshaped the landscape of digital banking, bringing transparency, security, and trust to the forefront of financial transactions. Blockchain’s decentralized nature ensures that transactions are immutable, transparent, and securely recorded, but its transparency can sometimes compromise the confidentiality of sensitive banking data.Toaddressthisissue,weexploretheintegrationof Visual Cryptography (VC) and Steganography with blockchaintoenhancesecuritywhileensuringprivacy.

Visual Cryptography encrypts information into multiple shares, which when combined, reveal the original data. Steganography, on the other hand, hides sensitive information within a cover medium, making it imperceptible tounauthorized observers. Byintegrating these techniques into blockchain systems, banking transactionscanbesecuredwithoutcompromisingtheir integrity,privacy,andtransparency.

This section explores the application of Visual Cryptography and Steganography in blockchain for secure banking transaction recording. It presents a theoretical model integrating these technologies and evaluates the potential benefits and challenges associatedwiththeiruse.

3.1. Exploring the Integration of Visual Cryptography andSteganographywithBlockchain

Blockchainprovidesarobustframeworkforsecuredata management through its distributed ledger system, where each transaction is recorded on a "block" that is linked to previous ones, making it tamper-resistant. However, while blockchain ensures data integrity, its transparency can be a vulnerability when it comes to protecting the privacy of sensitive banking transaction details.

3.1.1.VisualCryptographyinBlockchain

Visual Cryptography is a cryptographic technique that divides a secret image or piece of information into multiple shares. When these shares are overlaid, the original data can be revealed. This method ensures that the secret information is encrypted in a way that does

not require computational decryption but is instead revealedbycombiningthesharesinthecorrectorder.

In the context of banking transactions recorded on a blockchain, Visual Cryptography could be employed as follows:

 Transaction Data Encryption: Sensitive transaction data such as transaction amounts, sender/receiver details, and account numbers are encoded into multiple shares using Visual Cryptography.Thesesharescanthenbedistributed todifferent entitiesinvolvedinthe transaction(e.g., bank,user,andblockchainnodes).

 Visibility for Authorized Users: The original transaction data can only be reconstructed by authorized parties who possess the correct shares. For example, a bank and the transaction recipient might hold two of the shares, and only when these arecombinedwouldthetransactiondatabevisible.

 Security Advantage: This approach adds a layer of security to blockchain transactions, making it virtually impossible for anyone who intercepts a single share to gain access to the full transaction data, enhancing privacy in the otherwise transparentblockchainenvironment.

3.1.2.SteganographyinBlockchain

Steganography involves hiding information within a cover medium (e.g., an image, video, or audio file) in such a way that the existence of the hidden data is imperceptible to an observer. In the context of blockchain, steganography can be applied to embed sensitive transaction data within a cover object (e.g., a digitalimageorthemetadataofatransaction).

The application of Steganography in blockchain transactionscouldoccurasfollows:

 Embedding Sensitive Data in Transaction Metadata: Sensitive banking information such as user credentials, transaction amounts, and private keys can be embedded within the metadata of blockchain transactions or within a cover image attached to the transaction. This data is hidden in the least significant bits (LSBs) of the image or metadata, making it imperceptible to unauthorized parties.

 Concealment of Critical Information:Forexample, animageattached to a blockchaintransaction could conceal critical details of a financial transaction. While the blockchain provides a transparent public ledgerofthetransaction’s existenceandtimestamp, the sensitive transaction data would remain hidden within the image, ensuring that only the intended

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recipients (who possess the decryption key) can retrieveandviewit.

 Security Advantage: The primary benefit of Steganography in blockchain is that it provides a second layer of data protection, hiding sensitive banking information from prying eyes while still allowing for the transaction to be publicly recorded intheblockchain.

3.2. Theoretical Model of a Secure Banking System Integrating Visual Cryptography and Steganography with Blockchain

The integration of Visual Cryptography and Steganography into blockchain for secure banking transactionrecordingcanbeconceptualizedasalayered security model. This model combines the strengths of each technology blockchain’s immutability and transparency, Visual Cryptography’s visual encryption, and Steganography’s hidden data protection into a unified secure transaction system. Below is the theoreticalmodelofthisintegratedsystem:

3.2.1.Step-by-StepProcessofTransactionRecording

1. TransactionInitiation:

The bank or user initiates a banking transaction, which includes sensitive data such as transaction amounts, accountnumbers,timestamps,andotherprivatedetails.

2. VisualCryptography:

The sensitive transaction data is first encrypted using Visual Cryptography. This data is divided into two or more shares, with each share representing a random image.

3. Steganography:

One share of the Visual Cryptography data is then embeddedintothemetadataofablockchaintransaction, while the other share is securely stored by authorized entities (e.g., the bank and the recipient). In addition, additionalsensitivedatasuchastheprivatekeysoruser credentials can be embedded within a cover image attachedtothetransaction.

4. BlockchainRecording:

The blockchain transaction, including the steganographically hidden data, is recorded on the distributed ledger. The blockchain ensures that the transactionisimmutableandtraceable.

3.3.SecurityBenefitsoftheModel

 Data Integrity: Blockchain ensures that transaction details are immutable and tamperproof. The integration of VC and steganography provides additional layers of security to ensure that the sensitive data remains protected while retainingblockchain’stransparentnature.

 Confidentiality:Byembeddingtransactiondata into steganographic cover objects, and by dividing sensitive data into multiple visual shares, the system ensures that even if a share or cover image is intercepted, the full data remainsconcealed.

 Access Control: Only authorized parties who possess the correct share of the visual cryptographydata orthedecryptionkeyforthe steganographic cover can access the full transactiondetails.

The integration of Visual Cryptography and Steganography with Blockchain technologyrepresents a promising approach to ensuring the privacy and security of banking transactions. By encrypting transaction data and hiding it within blockchain’s transparentledger,thissystemprovidesa multi-layered security model that ensures both data confidentiality and integrity. While this approach offers significant advantages in terms of privacy protection, challenges related to computational overhead, scalability, and legal complianceneedto beaddressedinfutureresearchand implementation. Despite these challenges, this hybrid security model has the potential to offer a robust solution to the growing concerns around banking transactionprivacyinthedigitalage.

4. Results and Discussion

theeffectivenessandimplicationsoftheproposedmodel that integrates Visual Cryptography (VC) and Steganography with Blockchain for secure banking transaction recording. We evaluate the outcomes of implementing these technologies in a banking context, focusingonthesecurity,privacy,andperformanceofthe system. Additionally, we assess the potential challenges and limitations that may arise when combining these techniqueswithblockchaintechnology.

4.1.SecurityAnalysisoftheIntegratedSystem

The primary goal of integrating Visual Cryptography and Steganography with blockchain is to enhance the security and confidentiality of sensitive banking transaction data while maintaining blockchain’s immutability and transparency. We conducted an

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analysis of how each component contributes to the securityofthetransactionrecordingsystem.

4.1.VisualCryptography:Enhanced DataProtection

 Visual Cryptography ensures that transaction data is encrypted into multiple shares, with each share appearing as a random image. The decryption process does not require computational power but insteadreliesonthevisualcombinationofsharesto reveal the original data. This feature provides a significant security advantage, especially in the context of banking transactions, where sensitive informationmustbesafeguardedfromunauthorized access.

 Inthissystem,ifanattackerinterceptsasingleshare of the transaction data, the information remains unreadable. Only by combining multiple shares held byauthorized parties suchasthe bank andthe recipient can the data be reconstructed. This meansthat Visual Cryptography addsanadditional layer of security beyond traditional encryption methods,ensuringthatevenifashareisintercepted, itwillbeuselesswithouttheothers.

 Results: The integration of VC into blockchain transactions helps ensure that sensitive data is visually protected from unauthorized access. The confidentiality and integrity of the data are maintainedthroughshare-basedencryption,making thissystemfarmoresecurecomparedtotraditional blockchain-based systems that might expose transactiondetailstoallparticipants.

4.2. Steganography: Concealing Sensitive Information

Steganography plays a critical role in hiding sensitive data within seemingly innocuous cover media, such as digital imagesor transactionmetadata.In the contextof blockchaintransactions, steganography concealsprivate details (such as transaction amounts, sender/receiver identities, and private keys) within the blockchain transaction records. This ensures that even though the blockchain is transparent, the sensitive data remains hiddenfromunauthorizedusers.

 Embedding data within blockchain transactions using steganographic techniques provides an additional layer of protection. For instance, the detailsofatransactioncanbehiddenwithinacover imageorthemetadataoftheblockchaintransaction, making it imperceptible to anyone who does not possessthecorrectkeytoextractthehiddendata.

 Results: By embedding sensitive transaction information into blockchain metadata using steganography, we achieve invisibility for

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unauthorized parties. Only those with the decryption key can extract the embedded data. The integration of steganography ensures that even if blockchain transactions are publicly visible, their confidential data is hidden, significantly enhancing the privacy ofthesystem.

4.3. Blockchain: Ensuring Immutability and Transparency

Theblockchaincomponentofthesystemensuresthatall transaction records are immutable and transparent Blockchain’s decentralized structure means that once a transactionisaddedtotheledger,itcannotbealteredor tamperedwith.Thisprovidesan essentialadvantagefor securingbankingtransactions.

 While blockchain inherently does not solve privacy issues, the integration of Visual Cryptography and Steganography ensures that transaction data remains protected while still benefiting from blockchain’s tamper-proof, transparentfeatures.

 Results: The blockchain ensures that transaction records are verifiable, but the combination of VC and steganography ensures that sensitive details within the transaction remain hidden from prying eyes. This integration thus achieves a balance between transparency and privacy, providing a secure and trustworthy environment for banking transactions.

4.4.PerformanceAnalysis oftheIntegratedSystem

A critical consideration when implementing advanced cryptographic techniques such as Visual Cryptography and Steganography in blockchain is their impact on system performance. Specifically, we assess the computational overhead, transaction processing time, andscalabilityoftheintegratedsystem.

4.4.1.ComputationalOverhead

Both Visual Cryptography and Steganography introduce additional computational steps in the process of encrypting and hiding transaction data. Visual Cryptography requires the division of sensitive information into multiple shares, which could increase the encryption time. Similarly, Steganography requires additionaloperationstoembedthesensitivedatawithin acovermedium,suchasanimageormetadata.

Results: The computational overhead associated with Visual Cryptography and Steganography is expected to increase the time required to process and record a blockchain transaction. This overhead may result in International Research Journal of Engineering and Technology (IRJET) e-ISSN:2395-0056

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longer transaction processing times compared to traditional blockchainsystemsthatdo not employthese additional layers of security. However, the tradeoff is that the sensitive transaction data is significantly more secure, which justifies the added computational cost in environments where privacy is paramount, such as bankingtransactions.

4.4.2.TransactionProcessingTime

TheintegrationofVCandsteganographyintoblockchain transactions adds extra steps to the overall process. For example:

 Visual Cryptography: The process of splitting transactiondataintomultiplesharesandcombining them during decryption may increase the transactionprocessingtime.

 Steganography:Embeddingtransactiondatawithin cover objects or metadata requires additional encoding and decoding steps that could slow down transactionverification.

 Results: While the transaction processing time may increase compared to traditional systems, the delay isnotexpectedtobesignificantformostblockchain networks, particularly those with relatively low transaction volumes. In systems where transaction speed is less critical (e.g., financial systems focused on security), this additional processing time can be justified.

4.3.Scalability

Scalability remains a major challenge for blockchain systems,especiallypublicblockchains.Theintegrationof Visual Cryptography and Steganography could exacerbate scalability issues, as the additional computationalstepsanddatasizes couldslowdownthe overall network, particularly as the number of transactionsincreases.

Results:Thescalabilityoftheintegratedsystemmaybe impacted by the increased data sizes and the added computational complexity. As the blockchain network grows, these additional layers of security may result in higher resource consumption and slower transaction processing speeds. However, private blockchains or permissioned blockchains could mitigate some of these scalability concerns by reducing the number of participants and allowing more control over computationalresources.

4.4.PrivacyandLegal Considerations

4.4.1.PrivacyPreservation

The integration of Visual Cryptography and Steganography into blockchain provides a higher level of privacy for banking transactions. While blockchain’s public ledger exposes transaction metadata, the hidden data embedded using steganography and the visual shares provided by VC ensure that sensitive transaction detailsremainconfidential.

Results: This approach ensures that sensitive information is concealed and protected while still enabling the transparency required for verification by authorized participants. For financial institutions, this could represent a new standard for securing digital transactions,especiallywhenhandlingprivatedatasuch asaccountnumbers,amounts,andprivatekeys.

4.4.2.Legal

and RegulatoryConcerns

While steganography provides excellent security benefits, it could raise concerns regarding regulatory compliance. Specifically, financial regulators may worry about the use of steganographic techniques to conceal transactions, especially in cases involving money launderingorfraudulentactivities.

Results: The use of steganography in banking transactions needs to be balanced with regulatory compliance. While steganography helps protect transaction privacy, it is important for financial institutionstoensurethattheyarecomplyingwithantimoney laundering (AML) and know-your-customer (KYC)regulations.Thepotentialforsteganographytobe used maliciously (e.g., for hiding illicit transactions) requires financial institutions to carefully monitor and controlitsimplementation.

5. Conclusions and Future scope

5.1.Conclusions

In this paper, we explored the integration of Visual Cryptography and Steganography with Blockchain technology to enhance the security and privacy of banking transaction recording. Blockchain technology provides a decentralized, immutable ledger that guarantees transparency and data integrity, but its inherent openness poses challenges for privacy, especiallyinsensitivesectorslikebanking.

By introducing Visual Cryptography, we ensured that sensitive transaction data is encrypted into multiple shares, where each share alone provides no useful information. Only when authorized parties combine

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their shares can the original data be revealed, making it impervious to interception. Additionally, Steganography allowed for embedding sensitive data within cover mediums, such as images or metadata, thereby hiding transaction details from unauthorized parties while maintaining transparency within the blockchain’spublicledger.

Through a theoretical model, we demonstrated how combining these two technologies with blockchain creates a multi-layered security approach that ensures the confidentiality, integrity, and immutability of financial transactions. This approach effectively addressesprivacyconcernsinblockchain-basedbanking systems while retaining the system's transparency and tamper-resistantnature.

The integration of these technologies offers significant security advantages, including enhanced privacy, protection against unauthorized data access, and stronger data integrity. However, challenges related to computational overhead, scalability, and regulatory compliance need to be addressed before this model can bewidelyimplementedinreal-worldbankingsystems.

In conclusion, Visual Cryptography and Steganography offer viable solutions to augment the security of banking transactions on blockchain, providing a level of privacy and confidentiality that blockchainalonecannotachieve.Thisintegratedsystem has the potential to become a crucial component of future banking security infrastructure, offering privacypreserving features without compromising blockchain’s coreadvantages.

5.2.FutureScope

While the integration of Visual Cryptography, Steganography, and Blockchain for secure banking transaction recording is promising, several avenues for future research and development remain. The future scope of this system can be explored across multiple dimensions, including performance optimization, scalability improvements, legal considerations, and furtherenhancementsincryptographictechniques.

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