SEBF: A Single-Chain based Extension Model of Blockchain for Fintech

SEBF: A Single-Chain based Extension Model of Blockchain for Fintech

Yimu Ji, Weiheng Gu, Fei Chen, Xiaoying Xiao, Jing Sun, Shangdong Liu, Jing He, Yunyao Li, Kaixiang Zhang, Fen Mei, Fei Wu

Proceedings of the Twenty-Ninth International Joint Conference on Artificial Intelligence
Special Track on AI in FinTech. Pages 4497-4505. https://doi.org/10.24963/ijcai.2020/620

The traditional blockchain has the shortcoming that a single-chain can only deal with one or a few specific data types. The research question of how to make blockchain be able to deal with various data types has not been well studied. In this paper, we propose a single-chain based extension model of blockchain for fintech (SEBF). In the financial environment, we design a four-layer architecture for this model. By employing the external trusted or-acle group and a financial regulator agency, a variety types of data can be effectively stored in the blockchain, such that the data type extension based on a single-chain is realized. The experimental results indicate that the proposed model can improve the efficiency of simplified payment verifi-cation.
Keywords:
AI for lending: AI for blockchain
AI for banking: General