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The Combination of Blockchain Technology and Artificial Intelligence

  1. Definition of Artificial Intelligence

Artificial intelligence (AI) is intelligence displayed by machines, in contrast to the natural intelligence (NI) displayed by humans and other animals.

2.Why combine Blockchain and AI?

While AI helps people assess, understand and recognize, decide and improve decision making, blockchain technology and smart contracts help people when it comes to recording data and verifying transactions.

As a global trend in the technology field, it is no longer possible to make individual technology function as one single unit, and it is essential to utilize more than one technology more efficiently and effectively through organic fusion. What can be expected of AI in collaboration with blockchain technology?

How AI can solve Blockchain’s problems

Energy Consumption


It is expected to adapt to problems improvement and cost reduction by using AI technology against excessive energy consumption and protection of the global environment which are considered to be a problem in mining.

Scalability of Blockchain


The problem of scalability is that the number of service users increases, and processing information related to transactions increases as well, so transaction processing necessary for approval on the blockchain is delayed.
Artifical intelligence systems can process vast amounts of data in a short timeframe.
By introducing AI, which enables to avoid loading transaction data concentration on blockchain through learning federation or data sharding technology, and make system flexible and more efficiently.

Security


Even though the blockchain is almost unhackable, its wallet and applications are not always safe such as the DAO, Coincheck, etc. As machine learning progresses in the coming years, AI is becoming an important element in blockchain technology and it will be able to guarantee the use of safe applications. It is expected to encourage further development of blockchain technology.

3. Projects that combine Blockchain and AI

  • Skychain creates “Big data” for the Healthcare industry based on Blockchain and AI

Skychain provides a special function of collecting medical databases in a closed-loop system and using these databases to train third-party neural networks.
The open infrastructure based on blockchain enables to construct the high-quality medical neural networks, machine learning and to use.

What is neural network

Artificial neural network (ANNs) is a field of artificial intelligence (AI) research, and is a computer system inspired from a biological neural network that constitutes the animal brains. ANNs are composed of multiple nodes that imitate neurons of the human brain. Each neuron interacts with thousands of adjacent neurons and they interact with each other.

Skychain to Conquer High-Tech Medicine Cornerstone – Big Data

Skychain is a project to build medical data by learning big data by neural network. Massive amounts of medical big data (medical histories from a patient cards, medical reference data, medical research data) provided to the Skychain system by data providers. The neural network executed by Skychain, which is based on blockchain with high security can make the most accurate diagnosis and direct the appropriate treatment.

Experts have shown their estimations for the potential of AI market. It may increase from the current value of $200 billion to $3.1 trillion by 2025.

SingularityNET – open market for AI

SingularityNET is designed to meet the needs of AI business participants without requiring approval so that everyone can easily use it at ultra-low cost. It provides the only protocol for AI communication, trading and market development.

Sophia, developed by co-founder of SingularityNET Hanson Robotics, is the most emotional humanoid robotin the world, and her unique software, firmware, and hardware are almost impossible to duplicate. Sophia is almost the same as human beings, the Saudi Arabian government gave her the first citizenship right as Android.

Artificial intelligence has its unique unique features such as facial recognition, natural language analysis, speech recognition, big data analysis, etc. SingularityNET’s network of artificial intelligence based on the block chain, human beings from the outside, artificial intelligence in the blockchain network automatically constructs a cooperative relationship and solves the problem. Depending on the problem solving skills, the unique economic zone will be created by paying its own cryptocurrency.

Conclusion

In recent years, the integration of blockchain and artificial intelligence technologies have increased the attention to IoT (Internet of Things), which creates new added value in various fields. In the near future, innovative technologies will greatly change industries and society. It communicates with people or entertains people by distributing profits according to the degree of their contribution, and it also enables company to spread its corporate vision or shared it with people. It is expected to be applied not only to finance but also to a wide range of fields including distribution industry, service sector, and manufacturing business. We could say that it is consistent with Ben Goertzel’s idea “to connect a myriad of artificial intelligence and networks to blockchain and create huge global brains”, which is the initial goal of the blockchain.
We, Wrapious Ltd will do our best on a daily basis as an innovator in researching and developing new technologies and to continue to be a pioneer of its practical application development. At the same time, we aim to build a trustless and a flattened world and to connect people globally as widely and deeply as possible.

Reference sites:

https://en.wikipedia.org/wiki/Artificial_intelligence
https://medium.com/@Francesco_AI/the-convergence-of-ai-and-blockchain-whats-the-deal-60c618e3accc
http://www.ibtimes.com/ibm-combines-blockchain-technology-artificial-intelligence-virtually-turn-back-time-2349130
https://skychain.global/
https://en.wikipedia.org/wiki/Artificial_neural_network
https://www.tutorialspoint.com/artificial_intelligence/artificial_intelligence_neural_networks.htm
https://cointelegraph.com/news/skychain-to-conquer-high-tech-medicine-cornerstone-big-data
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