Harnessing Machine Learning and Blockchain in E-Commerce and Beyond

Abstract

Blockchain technology (BT) empowers market participants to detect digital transactions without centralized recordkeeping. The features of blockchain, like decentralization, immutability, and resistance to attacks, enhance data security and privacy. On the contrary, machine learning (ML) leverages analytical platforms to process big amounts of data for meticulous decision-making. Given the critical significance of data reliability and security in machine learning, the convergence of blockchain technology and machine learning has evolved as a distinctive, disruptive, and trending research area in recent years, delivering comparable and accurate performance. This study offers an overview of cutting-edge research in integrating BT and ML in e-commerce and diverse fields. The chapter outlines the challenges and advantages of amalgamating machine learning and blockchain technologies, describing the strengths and limitations of current algorithms in BT–ML integration.