Fraud Detection Using Machine Learning and Blockchain

In the 21st century financial fraud is on the rise in many institutions. Newly released Federal Trade Commission data shows that consumers reported losing nearly $8.8 billion to fraud in 2022, an increase of more than 30 percent over the previous year. The main goal for us is to develop an efficient fraud detection system and utilize blockchain to create a decentralized banking application. Our team has collaborated on various cutting-edge technologies, such as machine learning and blockchain, to create a sophisticated fraud detection system. We have implemented three machine learning algorithms, namely Logistic Regression, Decision Tree, and Random Forest, which have been used to improve the accuracy of the model for detecting fraudulent activities. As for fraud aversion, we have used the Blockchain technology which provides a tamper-proof system that can securely record and track financial transactions, ensuring transparency and security. This feature makes it an ideal solution for fraud prevention, as it guarantees that all transactions are legitimate and free from any manipulations. By combining the power of machine learning and blockchain technology, our team is confident in providing an innovative solution that will benefit all stakeholders involve

Revolutionizing Thailand’s Agricultural Sector: The Transformative Potential of Blockchain Technology in Digital Economy Supportive Policy

  Blockchain technology is a data storage system that involves a distributed database, which is a modern technology that has garnered widespread interest and study both locally and internationally. Currently, blockchain technology has revolutionized the world of business, finance, and banking, as well as government agencies in different countries, which have elevated their management to become digital governments that align with the digital economy. This can help to facilitate and improve the lives of citizens by making services more convenient, trustworthy, transparent, and verifiable, as well as reducing the steps involved in coordinating government activities. The purpose of this article is to study the principles of blockchain technology and smart contracts, as well as to propose recommendations for their application to solve the problems of government management in the agricultural sector in Thailand, to ensure smooth and efficient operations. Blockchain technology is a new technology that has garnered interest and study both locally and internationally, and has been revolutionary in the business sector, particularly in finance and banking. Many countries have upgraded their government management systems in response to the digital technology that is expanding in all sectors of the economy, which is crucial to the running of government operations and management. In addition, it can support and assist in providing convenience for citizens to access government services quickly, efficiently, transparently, and verifiably. This study has four main points: 1) top-down decision-making, 2) income stability, 3) unintended outcomes, and 4) the motivation of politicians and government officials. The results of this study show that supporting Thailand's digital economy in the agricultural sector can be achieved through the use of blockchain technology in data management, smart contracts to influence production factors, supporting and providing various benefits to farmers, and even implementing e-voting and allocating benefits to community-related activities. This can help to collect data from these activities to use for policy development and review

A Systematic review of blockchain technology for government information sharing

Government information sharing (GIS) refers to that act of required or provided for duty government information, commercial information and public welfare information, and it is a basic issue of government services. However, the existing GIS has low transparency and is lack of flexibility between different departments. Aiming at such problems, this paper takes blockchain as a solution, and systematically summarizes the development of digital GIS, the advantages and challenges of blockchain and its theoretical research and practical applications. Specifically, it reviews e-government interactive structure, big data and other solutions, analyses their imperfections, and puts forward blockchain-based solutions. The blockchain improves government service efficiency and data security, meanwhile it faces challenges in throughput and supervision. In order to meet these challenges, researchers propose solutions based on three data exchange scenarios: government-to-government, government-to-enterprise and government-to-individual. In addition to researches, blockchain-based GIS is put into use. The electronic licensing project of Nanjing (China) government is taken as an example to illustrate that blockchain has the ability to openly and securely verify, track, and exchange data, so as to improve management ability and public service level of government agencies