Blockchain Based Global Financial Service Platform

Abstract

Recently AI technologies, especially Deep Neural Network (DNN), have been widely used in the financial industry, such as stock price and movement prediction. In order to develop an AI-based solution for the global financial market, daily-based DNN model training for each stock is required to need collaboration among a large scale of entities. However, it is usually challenging due to data privacy, the cost of AI computing, and the lack of motivation to share information. This research proposes a novel Blockchain based platform, which utilizes the decentralized network, federated learning, and master-node to tackle these issues. The decentralized computing framework of federated learning, along with transfer learning, is applied to meet the data privacy requirements. Furthermore, the proposed federated learning platform with collaborative training is built on a decentralized AI computing cloud, which is highly affordable compared to centralized AI clouds. The master-node of Blockchain technology is further employed to enable the scalable global financial service, and effective rewards are applied to incentivize information sharing as well. We have applied the proposed Blockchain based platform to the stock prediction global service, which demonstrates the platform is practical and useful.