Volume - 2 | Issue - 4 | december 2020
DOI
10.36548/jucct.2020.4.005
Published
08 January, 2021
As we know, there are so many changes arriving right now ion the banking industries which are really complex industries. Every day, huge amount of data is processed and gathered. With this increase in size, it is becoming more difficult for banking institutions to manage this data and handle other segments of their business. This paper presents the scope of IoT in the banking domain and how various transformations could potentially bring game changing reforms in the traditional methodology. Banking institutions need to integrate IoT in their systems to increase their market share by providing services catered to a clients need based on the data that's being processed in real time. In future, IoT will be able to create such technologies which will be able to connect physical objects so that objects can do their own intelligent decision making. There is a system for dynamic Information-Locking and Encoding with Convergent Encoding. In this Information-Locking and Encoding with Convergent Encoding, the data is coded first and then the cipher text is encoded once more. Chunk volume is used for deduplication to diminish disk capacity. The same segments would still be encrypted in the same cipher message. The format of the key neither be abbreviated from encrypted chunk data by the hacker. The comprehension is also guarded from the cloud server. The center of attention of this document is to reducing disk storage and provides protection for online cloud deduplication.
KeywordsBanking IoT Big Data Analytics Security and Privacy
