How's the Convergence of Blockchain and Artificial Intelligence Technology A Perfect Match?
Updated: Sep 16, 2022
The intersection of Blockchain and AI brings new value to the tech world and a transformative impact on society.
Over the decades, humans have experienced the transcendence of the tech world, which has simmered into a stew of life-changing innovations and possibilities, all culminating in bringing our age-long human dystopia into existence.
Unlike in the Matrix motion picture, which depicts a symbiotic relationship between humans and machines, the concept of artificial intelligence goes beyond just an encompassing system of machines and tubes that expeditiously attend to our physical or emotional needs.
Blockchain has proven to be quite a powerful innovation: improving virtually every sector or industry in it has been implemented - a simulacrum of efficiency.
This blog will help demystify all you should know about this perfect matching of Blockchain and Artificial Intelligence.
Defining Blockchain & AI (Artificial Intelligence)
What is Blockchain?
Blockchain is a synergistic immutable ledger that enables an expeditious, mutual, and transparent exchange of encrypted data and transactions effectuated through smart contract compliance.
Since its inception, Blockchain has undoubtedly become an essential part of the financial community, gaining prominence due to its immersion in technology and rapidly moving to the forefront of new technology trends. This technology enables smart contracts, government service, decentralized autonomous entities and transactions, and a freely dispersed global network that substantially impacts how we use the internet.
What is AI?
AI (Artificial Intelligence) are forms of technology that use computers, data, and occasionally machines to replicate the human mind's problem-solving and decision-making abilities.
These technologies house and possesses the temerity to listen to human limitations and the audacity to transcend them through incorporating machine learning and deep learning.
There are three major aspects of this technology; Big data, Algorithms, and Computing Power. To homogenize these various aspects, Big data generated from different media like the Internet of Things is essential for training the algorithm to obtain a codification standard by effectively harnessing computing power.
Integration of Blockchain & AI
These two technologies are invariably complimentary and reciprocate for their various benefits.
Blockchain for AI
Blockchain and AI amalgam can become a mutual relationship that influences many aspects of the tech stratum, including security - the confluence of these two technologies promises immutability and double-shield security against tampering or cyber breaches.
In juxtaposition to the Blockchain, the AI technology has a 'Centralized' nature, considering how its data is centrally operated and reposited.