Blockchain and AI are two of the main technologies that are producing major changes in a wide variety of industries today, paving the way for both new areas, and methods, of innovation. There still remains a lot of mystery however, or perhaps simply untapped potential, surrounding both of these fields when considered separately. Therefore, it is understandable that there is an even bigger puzzle to solve when considering the relationship between Blockchain and AI.
Questions that are currently being considered include; how can blockchain and AI converge to produce new frontiers in tech, then tackle these successfully? In what ways specifically can distributed ledgers further the scope of AI? How can AI alter Blockchain? What barriers need to be removed in order to reach the pinnacle of decentralized intelligence? What are the current experimentations by pioneers in these fields?
Ahead of the AI in Finance Summit in New York, 6 - 7 September, we wanted to consider the present and future of blockchain and AI in perhaps one of the most obvious industries for these technologies to affect, Finance, as well within broader global market operations. By referencing some of the key players working in this niche intersection and highlighting the latest news surrounding Blockchain and AI, we hope to give a brief introduction into the world of Blockchain and AI prior to delving deeper into this topic at the summit.
Fetch.ai, a new decentralised system developed by early members of Google-owned DeepMind, was launched recently in 2018. It enables Autonomous Economic Agents to automatically trade data and services with other AI-powered systems to deliver transactions at a scale of millions per second, a ‘decentralised digital world’ on a ‘smart ledger’. Combining Artificial Intelligence (AI), Machine Learning (ML) and Distributed Ledger Technology (DLT) for the first time, Fetch.ai is a self-organising framework for new and emerging types of economic interactions, the company said in a statement.
Bitcoin Exchange Guide discusses Top 5 Blockchain-Based Artificial Intelligence Crypto Platforms Using AI in 2018
Cryptocurrency and blockchain are helping to accelerate the growth of AI by creating and launching AI based cryptocurrency projects. Two of these are AICoin and Peculium.
The Singapore-based platform, AICoin, is a cryptocurrency platform that’s purportedly based on using the combined power of blockchain and artificial intelligence to create wealth for its members. The artificial intelligence part of the platform helps investors make money by identifying unique profitable patterns that’s not evident to other traders, and execute trades based on those patterns.
Peculium can be described as a revolutionary saving platform, which is geared towards encouraging savings among individuals. Peculium does this by integrating traditional savings with cryptos.
Bibox, an all-new ‘smart asset exchange platform’ that utilizes an advanced distributed cluster system to help manage large-scale asset trading. In terms of the tokens that are selected and displayed on the platform’s primary exchange portal, each currency is examined by experts in conjunction with Bibox’s proprietary AI protocol. Bibox’s uses an AI-based operational module that allows for swift and reliable automated trading. These AI products include Planned, Conditional, Iceberg, TWAP, and Stop Loss/Gain orders.
Priya Lakshmi states that “ Machine learning should analyse the transaction data to propose the next regulations”. She asks “what if we analyse all the transaction data on the blockchain using machine learning techniques and start seeking out patterns in that data that is starting to show the need for the next big rule to govern investor protection and market stability. Regulators could use this insight to then create the next regulations as smart contracts and proactive regulate the transactions rather than reactively”
Adents and Microsoft Introduce Combined Blockchain, AI, IoT & Serialization Solution for Unsurpassed Supply Chain Security and Transparency
In collaboration with Microsoft, Adents has developed a new unit-level product track & trace platform utilizing Blockchain and AI technologies. Adents NovaTrack offers end-to-end traceability and visibility throughout the entirety of the supply chain.
Interested in learning more about AI, Blockchain and Finance? Join us at the upcoming AI in Finance Summit to network in discussion of these topics as well as; chatbots, algorithmic trading, stock market prediction, AI in Asset Management and InsurTech.
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We would also like to invite you to recommend someone working in Blockchain, AI & Finance! Let us know in the comments if you, or someone you know is working in these fields. Share your novel applications and use cases of these technologies!
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