Fraud prevention using Blockchain - Hyperledger Fabric network using GoFabric with Seon Solution
Seon fraud prevention platform is an application that uses top-notch algorithms to detect fraudulent activities. The platform collects data from various sources, such as social media, digital enrollments, and public records, and uses this data to generate a risk score for each user index.
Seon platform was connected to a Hyperledger Fabric network using a Blockchain oracle API, in order to achieve several benefits:
Ensurance that the risk score of each user is tamper-proof and cannot be manipulated or deleted. The immutability of the blockchain ensures that the risk score is transparent and auditable, reducing the risk of fraud.
Enabling Hyperledger Fabric chaincodes (smart contracts) to access and use the risk score of each user.
The use of a blockchain oracle and a fraud prevention platform enables businesses to build a distributed reputation databus for their systems.
A blockchain oracle is a bridge between a blockchain network and external data sources. It is used to transfer data from external sources to the blockchain network, enabling smart contracts to access and use this data. In the context of fraud prevention, a blockchain oracle was used to connect to Seon fraud prevention platform and register user reputation on the blockchain.
The smart contract was created using GoLedger CC-Tools Library, and the network was deploying with the help of GoFabric Blockchain orchestrator.
More info:
https://seon.io
https://goledger.io
https://goledger-cc-tools.readthedocs...