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

Abdullah Alenizi; Shailendra Mishra; Abdullah Baihan

Ain Shams Engineering Journal (Jun 2024)

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

Abdullah Alenizi,
Shailendra Mishra,
Abdullah Baihan

Affiliations

Abdullah Alenizi: Department of Information Technology, College of Computer and Information Sciences, Majmaah University, Al-Majmaah 11952, Saudi Arabia; Department of Information Technology, College of Computer and Information Sciences, Majmaah University, Majmaah 11952, Saudi Arabia (A. Alenizi); Department of Computer Engineering, College of Computer and Information Scinces, Majmaah University, Majmaah 11952, Saudi Arabia (S. Mishra).
Shailendra Mishra: Department of Information Technology, College of Computer and Information Sciences, Majmaah University, Al-Majmaah 11952, Saudi Arabia; Department of Information Technology, College of Computer and Information Sciences, Majmaah University, Majmaah 11952, Saudi Arabia (A. Alenizi); Department of Computer Engineering, College of Computer and Information Scinces, Majmaah University, Majmaah 11952, Saudi Arabia (S. Mishra).
Abdullah Baihan: Computer Science Department, Community College, King Saud University, Riyadh 11437, Saudi Arabia

Journal volume & issue: Vol. 15, no. 6
p. 102733

Abstract

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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.

Published in Ain Shams Engineering Journal

ISSN: 2090-4479 (Print); 2090-4495 (Online)
Publisher: Elsevier
Country of publisher: Egypt
LCC subjects: Technology: Engineering (General). Civil engineering (General)
Website: http://www.journals.elsevier.com/ain-shams-engineering-journal/

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