Blockchain & Fraud Prevention: What’s Holding Back Progress?
Blockchain has great potential when it comes to securing digital assets and combating fraudulent activity, which has surged amid the coronavirus pandemic.
According to IBM executive Jesus Mantas, there has been a 6,000% increase in COVID-related spam since the pandemic began, leaving many vulnerable to phishing and scams that their bank accounts need protection from.
Casey Evans, blockchain expert and professor of finance and accounting at American University’s Kogod School of Business, says blockchain technology can help fraud detection because it enables the sharing of information in real-time and all participants in a blockchain have visibility over transactions.
One of Casey’s goals is to educate future business leaders on the anti-fraud applications of blockchain. She teaches Kogod MBA students about the technology and has developed a Graduate Certificate in Forensic…