ROMJIST Volume 22, No. 3-4, 2019, pp. 284-299
Răzvan MIHAI, Tom Einar NYBERG, Einar MICHAELSEN, Ioana RIZEA-POPP, Monica DASCĂLU, and Gheorghe M. ȘTEFAN IT-Based Financial Confirmation & Diagnosis Mechanisms
ABSTRACT: The increasing complexity and dynamics of the financial domain impose appropriate tools to keep transactions efficient and secure. We propose to use a new technology, BlockChain (BC), and a revived technology, Artificial Intelligence (AI), to build IT-based tools for financial confirmation and diagnosis. We describe first the mechanisms for both, confirmation and diagnosis. Then, the type of computation involved is analysed. The two technologies involved in our proposal, BC and AI, are very computationally intensive. The time and energy involved cannot be minimized using off-the-shelf solutions. Therefore, finally, the architectural environment for an efficient implementation is proposed and evaluated. The paper represents the description of the approach we propose for solving critical problems affecting the current financial systems.Read full text (pdf)