ABSTRACT
Blockchain was formerly originated to prevent fraud in digital currency exchanges. Blockchain refers to a decentralized collective ledger that is unaffected by tinkering; it provides the confirmed contributors access to store, view, and share 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 is an endless challenge for everyone elaborate in buying and selling. With each novelty in security technology, hackers and fraudsters learn 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 the combination of 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 the work of different researchers for fraud detection and prevention using Blockchain technology. The final section of the chapter comprises 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.
