Impact Factor (2025): 6.9
DOI Prefix: 10.47001/IRJIET
This paper explored how blockchain technology and
computational intelligence (CI) models might work together to secure credit
card transactions. It focused specifically on real-time fraud detection and
prevention. In this work, blockchain, a decentralized, impossible-to-tamper
data ledger that is also distributed was used for data integrity and tampering
prevention. At the same time, Computational Intelligence models were employed
to monitor transactions in real-time to detect anomalies or fraudulent activities.
The framework was evaluated with the following key performance indicators:
accuracy, precision and recall and F1-score. The results show that when
compared to traditional methods, fraud detection rates dramatically improved. A
comparative study was conducted across various CI models, including machine
learning algorithms and neural networks. As a result, the combination of
blockchain and CI models achieved added security and safer credit card
transactions. It was found that the scalability of blockchain technology and
the computational power necessary to connect with CI models pose some
challenges. However, the combined framework proves to be better at preventing
fraud than the prevailing method of internet policing. This study will add to
an increasingly rich corpus of knowledge on how secured electronic transactions
are achieved using modern cryptographic and AI techniques. The government will
also benefit from this work in fostering real-time security.
Country : Nigeria
IRJIET, Volume 8, Issue 11, November 2024 pp. 188-193