Logo
Cipik0.000.000?
Log in


2/18/2025 1:02:50 PM (GMT+1)

How Blockchain Helps in the Fight Against Fraud?

View icon 206 Total views in all languages

Blockchain technology helps in the fight against fraud due to its transparency, security, and decentralization. Transactions are recorded in a public ledger that cannot be altered, which eliminates data falsification and allows tracking of each operation.

  1. Transparency and Immutability of Data
    All information in the blockchain is permanently recorded, preventing counterfeiting and allowing transaction verification.

  2. Decentralization
    Blockchain operates through a distributed network of nodes, reducing the risks of manipulation by centralized structures.

  3. Smart Contracts
    These automated contracts are executed based on predefined conditions, minimizing the risks of errors and fraud.

  4. Audit and Data Verification
    All data is available for verification at any time, helping to prevent fraudulent actions and increasing trust in the system.

Blockchain continues to evolve and find applications in various fields, making processes more secure and protected from fraud.


This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.



An unhandled error has occurred. Reload 🗙