How AI and blockchain are transforming cityscapes and real-estate practices. New-age tech labs are sprouting in cities, a blockchain district is on the cards. A look
What is the relationship between blockchain and AI?
For this discussion, I will be using ML and AI interchangeably. But both of them are not the same.
Machine learning(ML) and blockchain combined have the potential to revolutionize the world, similar to electricity and the internet. As our chips are steadily approaching the upper limit of Moore’s Law, the need for intelligent machines and sustainable technologies has increased. With the invent of affordable-yet-powerful chips, better connectivity, and high-performance computing(HPC), the ML sector is seeing tremendous growth and interest. As for blockchain, it is relatively new but is as fundamental as the internet and, as misunderstood by many people, not a use-case of the internet.
We already experience ML in our everyday life when using the web, e-mail, social media, maps, e-commerce, listing music, and playing games. The exciting future applications of ML are in smart home and healthcare solutions, driverless cars, advanced voice, and image recognition. Until now, blockchain has been used mostly in cryptocurrency. Blockchain also promises to change the world by decentralization and distribution institutions that hold financial and data power, with top-notch security. It gives the person control and power towards its assets and data, the currency of technology, while also facilitating its easy share.
While blockchain compensates for the lack of verification and accuracy in ML, the ML helps blockchain in managing its very blocks efficiently. Smart contracts can help the insurance and banking sectors to become more robust. Voting, government records, and supply chain management can and also benefit from the blockchain. ML and blockchain can also help in intelligent and optimize distribution and sharing of resources in regions with low resources to citizen ratios.
I have always been passionate about mathematics and technology. I have been studying ML and blockchain and have also done courses related to them. I am currently doing a project related to machine learning that has applications in healthcare, sports, and entertainment sectors.