Digital Cash: Tracking of Users in Bitcoin Transactions

Digital cash is a type of cash available in digital form. It exhibits the properties similar to physical currencies, but can allow for instantaneous transactions and borderless transfer-of-ownership. In today's world, amount transfer is happening through normal banking process. The bank finds an easy and convenient option for most people, but they charge excessive fees. To overcome this, we introduce a Digital cash transfer that will happen through cryptocurrency called Bitcoin. The process of cryptocurrency transactions will be implemented by blockchain technology. The admin creates a group to add the members. Group members can add other people as a group member, only after getting consent from the admin and the other group members. The new member has permission to add the other people. The mandatory prerequisite imposed to the group members is to link their Aadhar number. Bank transaction details are extracted through their Aadhar number. If any person needs fund they have to give a request to the group members for bitcoin transaction. Anyone can give the response to that requested member. Their transaction gets proceeded through an authentication like username, password. Group Admin monitors the entire activity of the group. All the Transactions are tracked by the main Server.