Developing An Automated And Transparent Wealth Framework With AI And Blockchain Interoperability

Abstract

This paper proposes a model based on the Integrated AI and Blockchain model. The objective of this paper is to propose a tested system which is transparent to customers, and other stakeholders, involved in the system. Processes are standardized to enable AI integration. Models become outdated with time when the base system is not re-trained. This model can acquire data and re-train itself, thus making the system more efficient and accurate over time. Smart contracts can be designed using AI and machine learning algorithms. These contracts can create blocks, which on validation, add up on a blockchain. The paper proposes a dummy model which can be scaled up by private or public bodies. This system intends to benefit customers through higher returns and appropriate risk profiling. A dummy ecosystem is used to generate entries and develop the model. This dummy eco-system can be further upgraded as per the needs of the organization.