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Abbreviation

ML

Machine Learning

BT

Blockchain Technology

KNN

K-Nearest Neighbor

T-KNN

Traditional K-Nearest Neighbor

I-KNN

Improved K-Nearest Neighbor

AI

Artificial Intelligence

DR

Detection Rate

FPR

False-Positive Rate

TP

True Positive

TN

True Negative

FP

False Positive

FN

False Negative

1

Introduction

Blockchain technology, the internet of things (IoT), and machine learning (ML) are

now widely acknowledged as disruptive technologies with the ability to enhance

present business procedures, establish novel business replicas, and disturb entire

sectors. By offering a shared and decentralized distributed ledger, blockchain, for

instance, could improve confidence, transparency, safety, and confidentiality in

corporate operations. A blockchain, or a dispersed record in general, could hold

all sorts of assets in the same way that a register can [1]. These data may primarily be

linked to money and identities. IoT fosters industry automation and user-friendliness

of business processes, both of which are critical for German and European industries.

Finally, machine learning enhances processes by finding patterns and optimizing

business outcomes [2]. Until now, the link between these three advancements has

been overlooked, but blockchain, IoT, and machine learning have been employed in

isolation. These advances, on the other hand, may and should be used in tandem, and

they could be merged henceforth. A single probable link amid these technologies is

that IoT gathers and distributes data, blockchain delivers framework and establishes

engagement guidelines, and machine learning optimizes processes and rules [2, 3,

24]. These three inventions are complementary by design, and when coupled, they

may fully realize their potential. The confluence of these technologies has the poten-

tial to be especially beneficial for data organization and the automation of corporate

operations. Then, BT was mainly considered in the situation of payments, i.e., Bitcoin

[4] and Ether (Bitcoin Cash). Non-financial applications of blockchain technology,

for instance, supply chain management and digital identities, have evolved in recent

years [5, 6]. The benefits of merging BT with other advancements like IoT and

machine learning have been recognized in more recent research. Huh et al. [7], for

example, highlight how blockchain technology might be used to advance the system