ETFA: Employees Trust Fund Assistant Utilising Blockchain Technology

Abstract

" This project – Employees’ Trust Fund Assistant (ETFA) proposes a new optimization system based on blockchain to solve the issues faced by financial sector while handling ETF transactions. Looking at the existing system which has been utilized by the labour department of Sri Lanka for the past few years, it is built upon a centralised system which confronts issues such as security and data storage. The project objectives are to develop a decentralized system with a hierarchical structure centred upon blockchain which provide transparency, data security and ownership. This Digital solution offers promising possibilities for employers and employees to handle their ETF funds by connecting multiple parties. When talking about blockchain, it has been integrated into this project to help serve the purpose of prevent hacking by not granting anyone to change or update fund transfers. "