Finding Fraud – Blockchain Expert Shows How Powerful The Technology Can Be In Protecting Organizations

Dr. Craig S. Wright, a leader in blockchain technology since its very early days and the current chief scientist at nChain, has created a multi day blockchain masterclass offered in Zurich, Switzerland. The course, offered in conjunction with BSV Blockchain Association, brought together blockchain enthusiasts, data engineers and scientists to learn from one of the foremost experts in the field.

In the second session of the second day, Dr. Wright discussed “Benford’s law” as it relates to accounting, fraud prevention and the blockchain. Benford’s law states that in a given data set there is relative frequency of leading numbers that skews towards smaller digits, e.g. over 30% are usually the number 1. Using this knowledge and the power of the blockchain, systems can be built to detect anomalous transactions.

Watch the full class here:

Featured photo by Chris Liverani on Unsplash.

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