The Future of Bockchain

Blockchain technology is on the tip of everyone’s lips. Even explaining the concept has some media buzz, with Wired taking the concept to both pre-schoolers and grad students alike to explain the technology to the uninitiated. It’s associated with Bitcoin, but blockchain technology can undergird so much more.

To be sure, Bitcoin was cool. It meant:

We could take a digital unit and keep it unique,

We could trace it

We could make sure it was not replicated on the internet

We created value and scarcity that wasn’t in the digital world previously

Think of what that would mean for music in cyberspace. Art. And in the case of bitcoin, money itself. All these things rely on there being value etched into the very creation of an asset, a concept that previously, had to exist only in the “real” world but never online.

Now that the blockchain kitty is out of the bag, blockchain’s promise is hyped. We think that’s deserved. But blockchain has some pretty big tasks ahead of it.

It’s charged with some big goals: to end fraud, to provide absolute security, and to disrupt companies that have just seen disrupt their own industries: companies like Uber, website marketplaces like Amazon, social media like Facebook, and apps — which will become dApps in the near-future. Even Overstock, which deals in homegoods, has developed tØ — a shares trading platform based on the blockchain.

All of these business models are centralized, and therefore they can monetize user data, own it, and control who can access it and use it to make money and hold equity.

Intelligence on the Blockchain

Ai has always been associated with universities and labs where robots freak us all out and we talk about disruption as a utopian/dystopian future where human meets machine. It hasn’t had much to do with the simple transactions blockchain promises to fix on ledgers, at banks, or storing something like healthcare data. However, thinking about all that data on the cloud — wouldn’t it be great to have robots capable of thousands of data analytics per second observing those clouds for security breaches and then learning what to look for even better next time?

With everything we do, say, store, and value increasingly online, Ai is a brilliant integration to increase security but also track transactions, know where our assets came from and where they’re going, divvy out royalties, and transact safely in a trustless system where unknown actors can be sure they won’t get taken advantage of because a smart contract backs them.

We are in control of our own assets.

AiBB and Blockchain

We’re dedicated to Ai on blockchain in a more traditional way — AiBB sifts through dozens of markets and exchanges, parsing thousands of points of data at a time and returning price gaps and opportunities for cryptocurrency trading. It even learns, which is why it’s so special. Robots sift through information. Real Ai improves its performance with every trade once it finds what’s working.

Blockchain and Ai together are integral to this synergy — together they can analyse huge data sets that have never been analysed together — particularly in our industry where there are finance regulations and privacy concerns. Tech is solving these problems as well as protecting our users.

1. Overlays relevant benchmark data and learns to interpret current conditions, just like a self-driving car is taught to anticipate conditions and adjust course

2. Recognize natural language requests so it is available to all traders, with or without coding skills or data analysis (or the time to root through all that data and make a judgement on it!)

3. Machine learning repetition trains Ai to understand context and intent

Ai Applications of Blockchain Outside of the Cryptos

Machine learning models have revolutionalized lots of industries, but putting this learning on blockchain means

If you’re looking for a really hot idea, something really cool to do, this is it. Blockchain. Ai. Combine them together. Use this immutable ledger and have an Ai live on the blockchain or at least speak to the blockchain. ..Siraj Raval

Ai might be used in the next generation of blockchain technology (blockchain 2.0) to take human bias and error out of blockchain itself. Blockchain is still coded by humans. If Ai wrote its own smart contracts and fed itself increased computing power with every transaction, it could infinitely improve on existing technology as it worked.

Securing the data that Ai collects and analyses is another revolutionary fit with blockchain. By definition, blockchain blocks are immutable. They’re confirmed and locked into place with consensus making them very difficult to hack, and making hackers have to go back through the blocks and undermine all the blocks with computing power that no one in the world can harness in order to change past ledger details. Yeah, not going to happen. This high bar for computing power and the set up of blockchains themselves has meant there’s virtually no possibility of hacking. Sound like a good set up for all that sensitive info? Yeah.

Ai can collect, analyse, and learn. That includes everything in your medical records — so where do you want its findings stored? On a regular cloud? With blockchain, sensitive data is more secure. With Ai we get the right data in the first place. Win-win.

Ai is good at managing blockchains. It’s better than people, because it takes a huge amount of computing power to rifle through algorithms and data. Ai can find what it needs fast and learn how to deal with it, becoming an expert on management without humans having to code every single task a traditional computer must do. Ai is more adaptable, and can handle caretaking our most sensitive information even better than humans.

The two techs are disrupting the barely-disrupted on their own, but combining them has even more possibilities for revolutionary human-Ai synergy.