Research on Blockchain-Based FinTech Trust Evaluation Mechanism
The financial technology (FinTech) has promoted the wide application of FinTech with the help of artificial intelligence, blockchain, cloud computing, data science and other new technologies. Trust evaluation has become a forward-looking issue for the rapid development of FinTech. The existing trust...
| Main Authors: | , , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
IEEE
2023-01-01
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| Series: | IEEE Access |
| Subjects: | |
| Online Access: | https://ieeexplore.ieee.org/document/10202242/ |
| _version_ | 1797743453992386560 |
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| author | Ying Song Chaohao Sun Lanxin Li Feifei Wei Yueheng Liu Baolin Sun |
| author_facet | Ying Song Chaohao Sun Lanxin Li Feifei Wei Yueheng Liu Baolin Sun |
| author_sort | Ying Song |
| collection | DOAJ |
| description | The financial technology (FinTech) has promoted the wide application of FinTech with the help of artificial intelligence, blockchain, cloud computing, data science and other new technologies. Trust evaluation has become a forward-looking issue for the rapid development of FinTech. The existing trust evaluation methods of FinTech do not consider the impact of the timeliness, reliability and non-invasive factors of trust on trust evaluation, which results in low accuracy of trust evaluation and incapability of effectively identifying malicious behaviors of users. Firstly, this paper introduces the blockchain technology to construct a four-layer architecture structure and multiple trust evaluation indicators based on blockchain service data. Secondly, the paper proposes a blockchain based FinTech trust evaluation mechanism (BFTEM), which utilizes blockchain to record relevant data and multiple trust parameters during the transmission process of each block, and verify the trust degree issued by the trust holder through the comprehensive trust value of the user. Finally, the block generation time, throughput, delayed response time and comprehensive trust value are experimentally studied through simulation experiments. Simulation experiments show that BFTEM mechanism can better improve the security and reliability of FinTech data, and has advantages in improving the accuracy of trust evaluation and expanding potential applications. |
| first_indexed | 2024-03-12T14:55:38Z |
| format | Article |
| id | doaj.art-73a206d315034a86850723bbb2f1fd9c |
| institution | Directory Open Access Journal |
| issn | 2169-3536 |
| language | English |
| last_indexed | 2024-03-12T14:55:38Z |
| publishDate | 2023-01-01 |
| publisher | IEEE |
| record_format | Article |
| series | IEEE Access |
| spelling | doaj.art-73a206d315034a86850723bbb2f1fd9c2023-08-14T23:00:38ZengIEEEIEEE Access2169-35362023-01-0111836158362610.1109/ACCESS.2023.330134010202242Research on Blockchain-Based FinTech Trust Evaluation MechanismYing Song0https://orcid.org/0000-0003-3788-1684Chaohao Sun1Lanxin Li2Feifei Wei3Yueheng Liu4https://orcid.org/0009-0009-5052-3284Baolin Sun5https://orcid.org/0000-0002-5306-6316School of Information Engineering, Hubei University of Economics, Wuhan, ChinaDepartment of Technical Business, China Huarong Financial Leasing Company Ltd., Hangzhou, ChinaSchool of Accounting, Hubei University of Economics, Wuhan, ChinaSchool of Information Management, Hubei University of Economics, Wuhan, ChinaDepartment of Secretary, Wuhan Cyber Security Association, Wuhan, ChinaSchool of Information Engineering, Hubei University of Economics, Wuhan, ChinaThe financial technology (FinTech) has promoted the wide application of FinTech with the help of artificial intelligence, blockchain, cloud computing, data science and other new technologies. Trust evaluation has become a forward-looking issue for the rapid development of FinTech. The existing trust evaluation methods of FinTech do not consider the impact of the timeliness, reliability and non-invasive factors of trust on trust evaluation, which results in low accuracy of trust evaluation and incapability of effectively identifying malicious behaviors of users. Firstly, this paper introduces the blockchain technology to construct a four-layer architecture structure and multiple trust evaluation indicators based on blockchain service data. Secondly, the paper proposes a blockchain based FinTech trust evaluation mechanism (BFTEM), which utilizes blockchain to record relevant data and multiple trust parameters during the transmission process of each block, and verify the trust degree issued by the trust holder through the comprehensive trust value of the user. Finally, the block generation time, throughput, delayed response time and comprehensive trust value are experimentally studied through simulation experiments. Simulation experiments show that BFTEM mechanism can better improve the security and reliability of FinTech data, and has advantages in improving the accuracy of trust evaluation and expanding potential applications.https://ieeexplore.ieee.org/document/10202242/Fintechblockchaintrusttrust evaluation |
| spellingShingle | Ying Song Chaohao Sun Lanxin Li Feifei Wei Yueheng Liu Baolin Sun Research on Blockchain-Based FinTech Trust Evaluation Mechanism IEEE Access Fintech blockchain trust trust evaluation |
| title | Research on Blockchain-Based FinTech Trust Evaluation Mechanism |
| title_full | Research on Blockchain-Based FinTech Trust Evaluation Mechanism |
| title_fullStr | Research on Blockchain-Based FinTech Trust Evaluation Mechanism |
| title_full_unstemmed | Research on Blockchain-Based FinTech Trust Evaluation Mechanism |
| title_short | Research on Blockchain-Based FinTech Trust Evaluation Mechanism |
| title_sort | research on blockchain based fintech trust evaluation mechanism |
| topic | Fintech blockchain trust trust evaluation |
| url | https://ieeexplore.ieee.org/document/10202242/ |
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