{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,6,26]],"date-time":"2026-06-26T07:25:06Z","timestamp":1782458706092,"version":"3.54.5"},"reference-count":45,"publisher":"PeerJ","license":[{"start":{"date-parts":[[2026,4,23]],"date-time":"2026-04-23T00:00:00Z","timestamp":1776902400000},"content-version":"unspecified","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"funder":[{"name":"Social Science Foundation Project of Jiangxi Province","award":["22GL28"],"award-info":[{"award-number":["22GL28"]}]},{"name":"Science and Technology Research Project of Education Department of Jiangxi Province","award":["GJJ2201507"],"award-info":[{"award-number":["GJJ2201507"]}]},{"name":"Key Project of Natural Science Foundation of Jiangxi Province","award":["20232ACB201003"],"award-info":[{"award-number":["20232ACB201003"]}]},{"DOI":"10.13039\/501100001809","name":"National Natural Science Foundation of China","doi-asserted-by":"crossref","award":["72271113"],"award-info":[{"award-number":["72271113"]}],"id":[{"id":"10.13039\/501100001809","id-type":"DOI","asserted-by":"crossref"}]}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"abstract":"<jats:p>A novel blockchain-based smart contract framework is proposed and designed to mitigate financial product fraud by enhancing transparency, auditability, and trust in advisory processes. The framework introduces a unique dual-contract architecture that combines product and authorization smart contracts, along with a challenge-response verification protocol that ensures both product authenticity and advisor legitimacy. The system is implemented and tested on the Ethereum blockchain, demonstrating operational feasibility through real-world transaction simulations and a corresponding gas cost analysis. By leveraging immutability, the framework preserves data integrity, while cryptographic signatures enable privacy protection without exposing sensitive data on-chain. It is designed to support multi-institutional environments, allowing various financial institutions to issue products and authorize advisors under a unified, fraud-resistant platform. Experimental results confirm the system\u2019s effectiveness in preventing common fraud scenarios, while maintaining low transaction costs and high security.<\/jats:p>","DOI":"10.7717\/peerj-cs.3834","type":"journal-article","created":{"date-parts":[[2026,4,23]],"date-time":"2026-04-23T08:53:45Z","timestamp":1776934425000},"page":"e3834","source":"Crossref","is-referenced-by-count":1,"title":["A blockchain-based smart contract framework for fraud-resistant financial product advisory"],"prefix":"10.7717","volume":"12","author":[{"given":"Wei","family":"Xiong","sequence":"first","affiliation":[{"name":"Jiangxi University of Water Resources and Electric Power, Nanchang, Jiangxi, China"},{"name":"Jiangxi University of Software Professional Technology, Nanchang, Jiangxi, China"},{"name":"Aheadsoft Software Co., Ltd., Nanchang, Jiangxi, China"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Yangcheng","family":"Hu","sequence":"additional","affiliation":[{"name":"Jiangxi University of Water Resources and Electric Power, Nanchang, Jiangxi, China"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Danping","family":"Wan","sequence":"additional","affiliation":[{"name":"Jiangxi University of Water Resources and Electric Power, Nanchang, Jiangxi, China"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"4443","published-online":{"date-parts":[[2026,4,23]]},"reference":[{"key":"10.7717\/peerj-cs.3834\/ref-1","article-title":"Blockchain for fraud prevention: transforming accounting and finance","volume":"2","author":"Adejumo","year":"2025"},{"issue":"4","key":"10.7717\/peerj-cs.3834\/ref-2","first-page":"373","article-title":"Enhancing digital identity and financial security in decentralized finance (DeFi) through zero-knowledge proofs (ZKPs) and blockchain solutions for regulatory compliance and privacy","volume":"8","author":"Ajayi","year":"2024","journal-title":"Iconic Research and Engineering Journals"},{"key":"10.7717\/peerj-cs.3834\/ref-3","first-page":"494","article-title":"An empirical analysis of smart contracts: platforms, applications, and design patterns","author":"Bartoletti","year":"2017"},{"issue":"16","key":"10.7717\/peerj-cs.3834\/ref-4","doi-asserted-by":"publisher","first-page":"7572","DOI":"10.3390\/app11167572","article-title":"The blockchain oracle problem in decentralized finance: a multivocal approach","volume":"11","author":"Caldarelli","year":"2021","journal-title":"Applied Sciences"},{"key":"10.7717\/peerj-cs.3834\/ref-5","volume-title":"Decentralized finance: blockchain technology and the quest for an open financial system","author":"Chen","year":"2019"},{"issue":"2","key":"10.7717\/peerj-cs.3834\/ref-6","doi-asserted-by":"publisher","first-page":"e00151","DOI":"10.1016\/j.jbvi.2019.e00151","article-title":"Blockchain disruption and decentralized finance: the rise of decentralized business models","volume":"13","author":"Chen","year":"2020","journal-title":"Journal of Business Venturing Insights"},{"issue":"4","key":"10.7717\/peerj-cs.3834\/ref-7","doi-asserted-by":"publisher","first-page":"3416","DOI":"10.1109\/comst.2018.2842460","article-title":"A survey on security and privacy issues of bitcoin","volume":"20","author":"Conti","year":"2018","journal-title":"IEEE Communications Surveys & Tutorials"},{"key":"10.7717\/peerj-cs.3834\/ref-8","doi-asserted-by":"crossref","DOI":"10.17487\/rfc5280","article-title":"Internet X.509 public key infrastructure certificate and certificate revocation list (CRL) profile","author":"Cooper","year":"2008"},{"key":"10.7717\/peerj-cs.3834\/ref-9","doi-asserted-by":"publisher","first-page":"12240","DOI":"10.1109\/access.2018.2812844","article-title":"RBAC-SC: role-based access control using smart contract","volume":"6","author":"Cruz","year":"2018","journal-title":"IEEE Access"},{"issue":"6","key":"10.7717\/peerj-cs.3834\/ref-10","doi-asserted-by":"publisher","first-page":"426","DOI":"10.1109\/ojcs.2025.3543450","article-title":"FraudGNN-RL: a graph neural network with reinforcement learning for adaptive financial fraud detection","volume":"6","author":"Cui","year":"2025","journal-title":"IEEE Open Journal of the Computer Society"},{"issue":"4","key":"10.7717\/peerj-cs.3834\/ref-11","doi-asserted-by":"publisher","first-page":"861","DOI":"10.1093\/geronb\/gby151","article-title":"Financial fraud among older Americans: evidence and implications","volume":"75","author":"DeLiema","year":"2020","journal-title":"The Journals of Gerontology: Series B"},{"key":"10.7717\/peerj-cs.3834\/ref-12","doi-asserted-by":"crossref","DOI":"10.1007\/978-1-4842-6534-5","volume-title":"Blockchain enabled applications: understand the blockchain ecosystem and how to make it work for you","author":"Dhillon","year":"2021"},{"issue":"4","key":"10.7717\/peerj-cs.3834\/ref-13","doi-asserted-by":"publisher","first-page":"1045","DOI":"10.1109\/tem.2020.2971858","article-title":"Supply chain finance innovation using blockchain","volume":"67","author":"Du","year":"2020","journal-title":"IEEE Transactions on Engineering Management"},{"key":"10.7717\/peerj-cs.3834\/ref-14","doi-asserted-by":"publisher","first-page":"123050","DOI":"10.1016\/j.techfore.2023.123050","article-title":"Trust in a \u2018trust-free\u2019 system: blockchain acceptance in the banking and finance sector","volume":"199","author":"Gan","year":"2024","journal-title":"Technological Forecasting and Social Change"},{"issue":"1","key":"10.7717\/peerj-cs.3834\/ref-15","doi-asserted-by":"publisher","first-page":"47","DOI":"10.1142\/S242486222150024X","article-title":"Blockchain and the evolving financial market: a literature review","volume":"7","author":"Gorkhali","year":"2022","journal-title":"Journal of Industrial Integration and Management"},{"issue":"7","key":"10.7717\/peerj-cs.3834\/ref-16","doi-asserted-by":"publisher","first-page":"5755","DOI":"10.47191\/etj\/v10i07.23","article-title":"Zero-knowledge proofs for privacy-preserving systems: a survey across blockchain, identity, and beyond","volume":"10","author":"Gupta","year":"2025","journal-title":"Engineering and Technology Journal"},{"issue":"1","key":"10.7717\/peerj-cs.3834\/ref-17","doi-asserted-by":"publisher","first-page":"1","DOI":"10.1057\/s41599-024-03606-0","article-title":"Financial fraud detection through the application of machine learning techniques: a literature review","volume":"11","author":"Hernandez Aros","year":"2024","journal-title":"Humanities and Social Sciences Communications"},{"issue":"8","key":"10.7717\/peerj-cs.3834\/ref-18","doi-asserted-by":"publisher","first-page":"116429","DOI":"10.1016\/j.eswa.2021.116429","article-title":"A review of anomaly detection techniques and applications in financial fraud","volume":"193","author":"Hilal","year":"2021","journal-title":"Expert Systems with Applications"},{"issue":"1","key":"10.7717\/peerj-cs.3834\/ref-19","doi-asserted-by":"publisher","first-page":"33","DOI":"10.54097\/74414c90","article-title":"Application of machine learning-based k-means clustering for financial fraud detection","volume":"10","author":"Huang","year":"2024","journal-title":"Academic Journal of Science and Technology"},{"issue":"1","key":"10.7717\/peerj-cs.3834\/ref-20","doi-asserted-by":"publisher","first-page":"7050","DOI":"10.1007\/s42484-024-00143-6","article-title":"Financial fraud detection using quantum graph neural networks","volume":"6","author":"Innan","year":"2024","journal-title":"Quantum Machine Intelligence"},{"issue":"3","key":"10.7717\/peerj-cs.3834\/ref-21","doi-asserted-by":"publisher","first-page":"100073","DOI":"10.1016\/j.tbench.2022.100073","article-title":"A review of blockchain technology applications for financial services","volume":"2","author":"Javaid","year":"2022","journal-title":"BenchCouncil Transactions on Benchmarks, Standards and Evaluations"},{"issue":"3","key":"10.7717\/peerj-cs.3834\/ref-22","doi-asserted-by":"publisher","first-page":"101694","DOI":"10.1016\/j.jcorpfin.2020.101694","article-title":"The future of financial fraud","volume":"66","author":"Karpoff","year":"2021","journal-title":"Journal of Corporate Finance"},{"key":"10.7717\/peerj-cs.3834\/ref-23","first-page":"839","article-title":"Hawk: the blockchain model of cryptography and privacy-preserving smart contracts","author":"Kosba","year":"2016"},{"issue":"2","key":"10.7717\/peerj-cs.3834\/ref-24","doi-asserted-by":"publisher","first-page":"733","DOI":"10.1016\/j.procs.2022.01.091","article-title":"Financial fraud detection using the related-party transaction knowledge graph","volume":"199","author":"Mao","year":"2022","journal-title":"Procedia Computer Science"},{"key":"10.7717\/peerj-cs.3834\/ref-25","first-page":"98","article-title":"Implementation and testing of a decentralized application for financial services based on Ethereum blockchain","author":"Marchesi","year":"2018"},{"key":"10.7717\/peerj-cs.3834\/ref-26","doi-asserted-by":"publisher","first-page":"1","DOI":"10.1007\/s42521-025-00157-0","article-title":"Blockchain in trade finance: reducing fraud and improving efficiency through digital ledger technology","volume":"7","author":"Mazumder","year":"2025","journal-title":"Digital Finance"},{"issue":"3","key":"10.7717\/peerj-cs.3834\/ref-27","doi-asserted-by":"publisher","first-page":"1318","DOI":"10.1080\/20430795.2021.1940805","article-title":"Application of blockchain in dealing with sustainability issues and challenges of financial sector","volume":"13","author":"Mishra","year":"2023","journal-title":"Journal of Sustainable Finance & Investment"},{"key":"10.7717\/peerj-cs.3834\/ref-28","article-title":"Bitcoin: a peer-to-peer electronic cash system","author":"Nakamoto","year":"2008"},{"issue":"3","key":"10.7717\/peerj-cs.3834\/ref-29","doi-asserted-by":"publisher","first-page":"121","DOI":"10.5121\/ijcsit.2024.16310","article-title":"Integration of decentralized finance (DeFi) in the US supply chain finance: opportunities, challenges, and future prospects","volume":"16","author":"Owolabi","year":"2024","journal-title":"International Journal of Computer Science and Information Technology"},{"key":"10.7717\/peerj-cs.3834\/ref-30","doi-asserted-by":"publisher","DOI":"10.64252\/74d92x03","article-title":"Blockchain in finance: applications, platforms, and global trends in a decentralizing ecosystem","author":"Parhi","year":"2025","journal-title":"Platforms, and Global Trends in a Decentralizing Ecosystem"},{"issue":"5","key":"10.7717\/peerj-cs.3834\/ref-31","doi-asserted-by":"publisher","first-page":"1292","DOI":"10.1111\/joes.12294","article-title":"Financial fraud: a literature review","volume":"32","author":"Reurink","year":"2018","journal-title":"Journal of Economic Surveys"},{"key":"10.7717\/peerj-cs.3834\/ref-32","doi-asserted-by":"publisher","DOI":"10.48550\/arXiv.1807.09484","article-title":"Raziel: private and verifiable smart contracts on blockchains","author":"S\u00e1nchez","year":"2018"},{"key":"10.7717\/peerj-cs.3834\/ref-33","doi-asserted-by":"publisher","first-page":"153","DOI":"10.20955\/r.103.153-74","article-title":"Decentralized finance: on blockchain- and smart contract-based financial markets","volume":"103","author":"Sch\u00e4r","year":"2021","journal-title":"FRB of St. Louis Review"},{"key":"10.7717\/peerj-cs.3834\/ref-34","doi-asserted-by":"publisher","DOI":"10.1016\/j.irfa.2023.102566","article-title":"Digital finance and corporate financial fraud","volume":"87","author":"Sun","year":"2023","journal-title":"International Review of Financial Analysis"},{"key":"10.7717\/peerj-cs.3834\/ref-35","doi-asserted-by":"publisher","DOI":"10.5210\/fm.v2i9.548","article-title":"Formalizing and securing relationships on public networks, first monday","author":"Szabo","year":"1997"},{"issue":"12","key":"10.7717\/peerj-cs.3834\/ref-36","doi-asserted-by":"publisher","first-page":"e11907","DOI":"10.1016\/j.heliyon.2022.e11907","article-title":"Corporate Social responsibility, financial fraud, and firm\u2019s value in Indonesia and Malaysia","volume":"8","author":"Tarjo","year":"2022","journal-title":"Heliyon"},{"issue":"3","key":"10.7717\/peerj-cs.3834\/ref-37","doi-asserted-by":"publisher","first-page":"89","DOI":"10.4067\/S0718-27242021000300089","article-title":"Systematic literature review on application of blockchain technology in E-finance and financial services","volume":"16","author":"Trivedi","year":"2021","journal-title":"Journal of Technology Management & Innovation"},{"key":"10.7717\/peerj-cs.3834\/ref-38","first-page":"67","article-title":"Securify: practical security analysis of smart contracts","author":"Tsankov","year":"2018"},{"issue":"8","key":"10.7717\/peerj-cs.3834\/ref-39","doi-asserted-by":"publisher","first-page":"1259","DOI":"10.1080\/00076791.2018.1519026","article-title":"Financial fraud, scandals, and regulation: a conceptual framework and literature review","volume":"61","author":"Van-Driel","year":"2018","journal-title":"Business History"},{"issue":"4","key":"10.7717\/peerj-cs.3834\/ref-40","doi-asserted-by":"publisher","first-page":"935","DOI":"10.3745\/JIPS.04.0185","article-title":"A survey of the application of blockchain in multiple fields of financial services","volume":"16","author":"Wang","year":"2020","journal-title":"Journal of Information Processing Systems"},{"issue":"2","key":"10.7717\/peerj-cs.3834\/ref-41","doi-asserted-by":"publisher","first-page":"780","DOI":"10.1016\/j.procs.2022.01.097","article-title":"Financial fraud risk analysis based on audit information knowledge graph","volume":"199","author":"Wu","year":"2022","journal-title":"Procedia Computer Science"},{"key":"10.7717\/peerj-cs.3834\/ref-42","doi-asserted-by":"publisher","first-page":"042094","DOI":"10.1088\/1742-6596\/1176\/4\/042094","article-title":"The application of blockchain technology in financial markets","volume":"1176","author":"Wu","year":"2019","journal-title":"Journal of Physics: Conference Series"},{"issue":"4","key":"10.7717\/peerj-cs.3834\/ref-43","doi-asserted-by":"publisher","first-page":"691","DOI":"10.1002\/sres.2710","article-title":"The challenges and countermeasures of blockchain in finance and economics","volume":"37","author":"Zhang","year":"2020","journal-title":"Systems Research and Behavioral Science"},{"key":"10.7717\/peerj-cs.3834\/ref-44","first-page":"558","article-title":"Application and development trend of blockchain in the financial field","author":"Zhao","year":"2020"},{"key":"10.7717\/peerj-cs.3834\/ref-45","doi-asserted-by":"crossref","DOI":"10.2991\/icpcs-19.2019.93","article-title":"Research on innovation and development of blockchain technology in financial field","author":"Zhao","year":"2019"}],"container-title":["PeerJ Computer Science"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/peerj.com\/articles\/cs-3834.pdf","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/peerj.com\/articles\/cs-3834.xml","content-type":"application\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/peerj.com\/articles\/cs-3834.html","content-type":"text\/html","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/peerj.com\/articles\/cs-3834.pdf","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2026,4,23]],"date-time":"2026-04-23T08:53:54Z","timestamp":1776934434000},"score":1,"resource":{"primary":{"URL":"https:\/\/peerj.com\/articles\/cs-3834"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2026,4,23]]},"references-count":45,"alternative-id":["10.7717\/peerj-cs.3834"],"URL":"https:\/\/doi.org\/10.7717\/peerj-cs.3834","archive":["CLOCKSS","LOCKSS","Portico"],"relation":{},"ISSN":["2376-5992"],"issn-type":[{"value":"2376-5992","type":"electronic"}],"subject":[],"published":{"date-parts":[[2026,4,23]]},"article-number":"e3834"}}