Artificial intelligence has fascinated the human imagination since the times this term started appearing in sci-fi books. Computer science is developing rapidly, and nowadays intelligent computers are no longer fiction -- they are the reality. Blockchain technology was first described in 2008 by an anonymous inventor of Bitcoin, Satoshi Nakamoto. Nobody knows anything about this person or group of people, and Mr. Nakamoto left the project in 2010. Yet, his (or their) brainchild is still alive and kicking, and is implemented in innovative projects all over the world.
IBM wants to combine blockchain's distributed ledger technology with its artificial intelligence arm to make the billions of smart devices connected to the internet safer, and by doing so it would allow virtual time travel by letting regulators rewind to the point when the problem occurred and see just what happened. According to a report by CoinDesk, IBM is still in the very early stages of developing this project that brings together the company's Internet of Things Foundation and Watson divisions to create the Watson Internet of Things group, which is attempting to marry those technologies with the emerging blockchain technology that underpins the bitcoin network. "What we're doing with blockchain and devices is enabling the information those devices supply to effect the blockchain. You begin to approach the kind of things we see in movies." One of the potential applications of the technology would be to create a register of IoT devices based on the blockchain, with artificial intelligence programs then used to perform automated self-diagnoses and more advanced functions, which could eventually lead to the ability of engineers and regulators to virtually rewind the clock to go back in time and see at what point a smart device failed and see exactly what went wrong.
Blockchain Artificial Intelligence are two revolutionary technologies of this century. In this post, I am trying to find if they can be of help and complement with each other. Finding a relation between the blockchain and artificial intelligence technologies will help the scholars, technology integrators and innovators of both the fields. Blockchain technology is one of the greatest innovations of this century. The biggest advantage is security.
As previously reported, on Thursday, March 9th, the Federal Trade Commission (FTC) hosted a forum on the consumer implications of recent developments in artificial intelligence (AI) and blockchain technologies. This is the second of two entries on the March 9th FinTech Forum. Today's post focuses blockchain technologies. Coverage of the opening remarks and the AI discussion may be found here. The panel discussions on blockchain technologies reflected the nascent stage of the technology, with industry representatives expressing confusion over the applicability of current regulation, and regulators expressing a lack of clarity over jurisdictional questions.