ONLINE DIGITAL CHEQUE CLEARANCE AND VERIFICATION SYSTEM USING ETHERUM BLOCKCHAIN

India uses the Cheque Truncation System (CTS), an image-based check clearing system. The semi-manual approach has some drawbacks and can take up to 3 working days in India to clear an inter-bank national check. Due to the shortcomings of this system, commercial banks and cheque users must have access to an effective and secure system that can clear a check in less than 24 hours while maintaining the systems integrity and anonymity. This study presents an automated solution to the aforementioned problems that might be implemented by any commercial bank in India. All banks interested in participating in this framework must connect to the proposed blockchain-based system, which is the foundation of the proposed system.