Enhancing secure financial transactions through the synergy of blockchain and artificial intelligence

• Published in: Ain Shams Engineering Journal
• Main Authors: Abdullah Alenizi, Shailendra Mishra, Abdullah Baihan
• Format: Article
• Language: English
• Published: Elsevier 2024-06-01
• Subjects: Blockchain technology; Artificial intelligence; Secure financial transactions
• Online Access: http://www.sciencedirect.com/science/article/pii/S2090447924001084

Blockchain and artificial intelligence are innovative technologies that can securely process and share data across unreliable networks. Due to data leakage from user information, it is critical to keep the data confidential and completely protected because criminals are looking for this information to attack the system or steal information in the banking sector. To address this issue, this paper suggests an Integrated Blockchain and Artificial intelligence (IBAI) Framework for secure financial transactions. A blockchain can store every customer's data in one place, while AI-driven algorithms can speedily examine that data and make an unbiased decision. The rising blockchain technology provides a decentralized architecture that enables the secure sharing of data and resources to the different networks and is promoted for removing centralized control and resolving the problems of AI. When suspicious behaviour happens, alerts can be triggered to avert theft. Furthermore, registration protocols based on AI are utilized to keep this data in comprehensive security. The numerical results show that the suggested IBAI model enhances the suspicious behaviour detection ratio and increases accuracy up to 98% compared to other models.