Machine learning-based fraud detection in blockchain: A qualitative survey in IT, business, and finance sectors

In recent years, there has been a focus on Blockchain technology and Machine Learning (ML). Blockchain, a distributed database of veriable digital records, is a networked ledger of trusted digital records. Blockchain technologies could assist with international payments, safe data sharing, marketing, and supply chain management. ML is used to construct cognitively capable systems. This chapter aims to determine the state of ML fraud detection utilizing Blockchain technology. We polled various IT, business, and vnance organizations to and out which apps could benefit from this integration and if they are ready to invest in new software and processes. According to a quantitative analysis, nine questions meet country-level assessment standards and enhance data security, analyze data set development, and manage data monetization - common integration strategies that benefit from ML fraud detection on Blockchain networks. Blockchain technology is ML's perfect development environment. Blockchain is based on transaction management and real-time validation between nodes.