Every implementation of AI and Blockchain will have a long-term ripple effect that helps the world on a larger scale

AngelVest and its portfolio companies (related to AI and Blockchain) presented at the FinWise Blockchain Summit in Hong Kong on August 10, 2018. The theme of the panel discussion was to discuss how Artificial Intelligence and Blockchain converge in order to raise people’s level of consciousness.

As the world advances in its technological endeavours, there has been a call to remember the impact we, as human beings, have on the earth. The global population has been urged to consider the effect their actions may have on the environment as it ultimately ends up affecting humanity as a whole. According to a WHO report, 4.2 million deaths occur every year as a result of air pollution. Carbon emissions are one of the major contributors to air pollution. If every person were to become more conscious of their actions, regarding what they’re doing to contribute to carbon emissions, these alarming figures would start to go down gradually.

The AngelVest Portfolio companies are seeking to raise awareness, and contribute to the global growth in consciousness, in their own respective ways. The panel consisted of David Chen, Co-Founder of AngelVest; Hikaru Kasai, LUXCHAIN Analyst, Tobias Kars, VP of Product and Blockchain Services at Goodchain; Dmitry Matskevich, Founder of DBrain; and Philip McMaster,Co-Director, China at World Sustainability Organization.

Sophia the Robot from Hanson Robotics was also part of the panel – as the world’s most well-known humanoid robot in modern times – as an interface to the AI world, and as a symbol of what AI can truly become someday soon.

Also read: Can blockchain be the foundation of sustainable social impact?

Moderated by myself, the panel participants were asked to discuss how the different disciplines can work together to generate ground-breaking discoveries that could transform life as we know it — for the better. The panel kickstarted with an exchange between Chen and Sophia, who introduced herself, gave a few details about what she does, and also pledged to be a part of the move to bringing AI and Blockchain technology together in order to solve the problems the global society is currently facing.

A key question to consider, that was maintained throughout the panel discussion, was this: “Where is consciousness going and how can machines help?”

Do machines have consciousness? What does this mean for human consciousness and a higher level of human interaction and intuition?

Kasai offered compelling use cases for AI and Blockchain, one of them being the preservation of data.

“One way Blockchain and AI can work together,” he explained, “is to secure information so that recorded data cannot be manipulated by a central entity.”

He highlighted that AI naturally requires a large dataset to train models and algorithms which, in the current system, is hard to acquire at an affordable cost.

“Blockchain fortunately helps solve this problem with decentralized data exchanges,” Kasai continued. “New levels of security, ownership control, and transparency is made possible with decentralized networks. This in effect creates a new opportunity for large volumes of data to circulate to AI developers while decreasing cost. AI developers can purchase data directly from data providers instead of paying high premiums from centralized giants.”

L-R: Kenny Au, Daniel Chen, Hikaru Kasai, Tobias Kars, Dmitry Matskevich, Philip McMaster, and Sophia

Kasai also detailed how LUXCHAIN is making use of AI and Blockchain technology to contribute to making the world a more sustainable — and conscious place.

“With Luxchain for example, we use AI and Blockchain to help ‘recycle’ personal luxury goods such as branded handbags,” he explained. “By digitising products that are just sitting in closets, we help create an ecosystem for product owners to easily sell their goods. At the same time, we allow buyers to gain easier access to the products they want. This helps to ‘recycle’ the existing secondhand goods so that new products do not have to be necessarily manufactured. In effect, we can curb the amount of carbon emissions that are released when new products are manufactured.”

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