From Legacy to Innovation: Architecting CloudBased AI and Blockchain Solutions for Secure and Intelligent Financial Transactions

Abstract

Research and development (R&D) progress and thinking in interweaving cloud-centric AI and blockchain technology have been ongoing and growing over the last three years. In the shadow of the global pandemic, we see their realization in actual solutions in the financial services industry. The joint solution—AI and Blockchain Powered by Data Engineering for Business—addresses a historical operational issue, improves inter-organization relationships, safeguards transactions, introduces machine operational intelligence for blockchain nodes, introduces off-ledger intelligent online diagnosis possibilities, and can help three frontline professionals in financial services. Such AI-driven blockchain solutions can be considered a case in a class of their own. They are in marked contrast with another cloud-centric characteristic—blockchain-first AI provisioned by Cloud AI services for blockchain-aware deep learning.
We begin by giving arguments for the significance and timeliness of our position by reviewing the large implications of the realized and not-yet-realized facets of blockchain- and AI-centric financial transaction systems, before proceeding with the current state of the art of unifying cloud, blockchain, and AI. We discuss the general authenticity of transactions, followed by a specific case study articulating how secure and intelligent financial systems are being architected for today’s stakeholders. A matching blockchain architecture hierarchy is then presented. Such a hierarchy cannot ignore the necessity of business process innovation with relevance and authenticity secured by AI. We conclude this exposition with a call for the de-autonomization of the current cloud blockchain generation.