Nisar Fatima, Samreen Sultana 02 09 In the financial industry banks adoption of the Know Your Customer strategy improves these businesses operational effectiveness The information obtained from the customer throughout the KYC process may be used to prevent potential money laundering fraud and other illegal endeavors Most financial organizations have their own KYC processes in place A centralized system also makes it possible for several financial institutions to work together and carry out operations In addition to these two situations a blockchainbased system can also be used to carry out KYC procedures The decentralized network of the blockchain will be extremely transparent allowing all pertinent stakeholders to validate and verify customer data in realtime Furthermore the blockchains privacy and immutability guarantee that customer data is safe and unchangeable eliminating the possibility of data breaches By doing away with needless paperwork and data submissions based on a KYC can further enhance the customer experience This paper suggests a powered by blockchain KYC method to gather limit risk and collateral information from customers after banks approve transactions Financial institutions can read and write financial data on the blockchain network thanks to the Ethereumbased method This KYC approach creates an open flexible and quick framework between financial institutions Solutions for the Sybil attack one of the most serious issues in these networks are also covered Copyright (c) Journal of Science Engineering Technology and Management Science. All rights reserved 2026