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The convergence of AI and Blockchain: what’s the deal?
Why a decentralized intelligence may affect our future
It is undeniable that AI and blockchain are two of the major technologies that are catalyzing the pace of innovation and introducing radical shifts in every industry. Each technology has its own degree of technical complexity as well as business implications but the joint use of the two may be able to redesign the entire technological (and human) paradigm from scratch.
This article wants to give a flavor of the potentialities realized at the intersection of AI and Blockchain and discuss standard definitions, challenges, and benefits of this alliance, as well as about some interesting player in this space.
I. Setting the stage
I have been talking and writing about AI since a while now, so I will not waste any time defining what it is and what is not (if you want to know more about it, you can check my explanation or a brief history of AI).
However, I never touched upon blockchain and cryptocurrencies so far, so I will dedicate this first block to describe what it is and how it works.
A blockchain is a secure distributed immutable database shared by all parties in a distributed network where transaction data can be recorded (either on-chain for basic information or off-chain in case of extra attachments) and easily audited.
A blockchain is a secure distributed immutable database shared by all parties in a distributed network
Put simply (with Bank of England’s words), the blockchain is “a technology that allows people who don’t know each other to trust a shared record of events”.
