IoT with Blockchain Enabled Machine Learning Models for Financial Management and Budgeting
Year: 2024
Type: article
Abstract: This article proposes a novel Blockchain-Enabled Machine Learning (ML) Model for improving financial management, prediction, cost optimization, and budgeting. The integration of Blockchain technology with Machine Learning offers a highly secure and transparent framework that enhances financial decision-making. Through the use of real-time data from IoT devices, secure transaction management via Blockchain, and predictive analytics through ML models, the proposed system offers a comprehensive solution to optimize spending, forecast financial trends, and automate budgeting tasks. The potential benefits of this approach are significant, ranging from enhanced security and accuracy in financial predictions to cost reduction and improved budgeting practices. This paper discusses the methodology behind this model, its components, and its expected impact on the finance sector.
Author: Madhava Rao Kunchala
Language: English
Subfield: Information Systems
Field: Computer Science
Domain: Physical Sciences
Open Access status: hybrid
OpenAlex ID: W6949664162
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