Blockchain was formerly originated to prevent fraud in digital currency
exchanges. Blockchain refers to a collective decentralised ledger that is unaffected by
tinkering. It provides the confirmed contributor access to the store, views, and shares
the digital information in a situation that is rich in safety, which in turn supports the
development of trust, liability, and transparent business associations. Identity theft and
fraud safety are endless challenges for everyone in buying and selling. With each
novelty in security technology, hackers and fraudsters learn how to outsmart the
technology and breach these networks. The first section of the chapter describes the
structure of the blockchain, its framework, the pros and cons of combining these
technologies, and the role and importance of machine and deep learning algorithms in
fraud detection and prevention in the blockchain. The next section focuses on the
reported work, highlighting different researchers’ work for fraud detection and
prevention using Blockchain technology. The chapter’s final section comprises a
comparative analysis based on various performance parameters such as accuracy, the
area under the curve, confidence, true negative, false positive, and truly positive for a
different type of fraud detection using blockchain technology.
Keywords: Artificial intelligence, Blockchain technology, Deep learning, Fraud detection, Fraud prevention, Machine learning.
