How Artificial Intelligence (AI) Will Work in Blockchain and Cryptocurrency Industry?
Crptocurrency, Blockchain and Artificial intelligence : An Overview
Cryptocurrency industry - A very wast digital ecosystem that has been powered with blockchain and most notably the ever-popular bitcoin. We know this fact. In the past few years, we have heard the loud sound of bitcoin and its derivatives in online mediums, networks, and social media. Just like that, there is an another technology which is started to explore its influence on headlines. That is AI - Artificial Intelligence.
Yes, just like the bitcoin and blockchain, this trending technology innovation started to revamp many corporate industries, which includes the cryptocurrency industry too.
This two technology big giants, explore their influences in different ways.
The cryptocurrency industry have made individuals rich by rolling the bitcoin as a key dice in the financial market. The AI has a different approach, it doesn't make anyone rich. But, it influences the corporate industries as similar the blockchain does.
So, it is possible to combine these big mammoth technology innovations together? if it is possible means how Artificial intelligence will work in cryptocurrency and as well as for blockchain businesses. Also let's have a look about what are the benefits of combining blockchain, cryptocurrency and AI together?
Blockchain And Artificial intelligence: How it is possible to connect both trends?
In Blockchain Let us take the mining process of bitcoin, and In AI let us take Machine learning Lifecycles. This to processes in these two different technologies are similar in progress.
In cryptocurrency mining, the miners have to go through a lot of computing cycles in order to find a particular block for a coin. Thus the influences of Machine learning cycles have been indirectly used in crypto mining.
Whereas machine learning cycle is a Cyclical Process in Business intelligence, that defines which kind of steps a business has to take in order to experience the full use case of Artificial intelligence.
Bitcoin mining warehouses and Machine learning warehouses are similar. Bitcoin mining warehouses are filled with hard wares and electricity that will help in increasing the blocks computing power. Whereas machine learning warehouses are filled with raw data and software bot that will help in increasing the data’s computing power.
Blockchain and AI Supports in Predictive Analysis
Some blockchain networks like Delphy are works well on a predictive analysis in a fun way. That is anyone in the network will be awarded if he/she is provided the correct answer for the posted questions. Majority of the question will be asked on the basis of bitcoin price or financial wealth of bitcoin. By combining all the answers honest results will be calculated in the bitcoin price prediction market. Thus Blockchain Works in Predictive Analysis
In some cases, Blockchain With AI Technology will neglect the involvement of humans.
Blockchain With AI Technology can work well in predictive analysis, For example, Cindicator a blockchain that utilizes both technologies by concatenating together in order to bring better prediction on bitcoin price. The Blockchain Cindicator (CID) utilizes both human intelligence and AI.
Blockchain and AI Supports Health Care Industry
The most notable highlight of these two technologies can be defined as follows
1. Blockchain supports to maintain data’s in a manageable, efficient, secure way and also make the data’s interoperable in a decentralized network.
2.Whereas artificial intelligence explores its potential, in computing networks, and it works well in BI by utilizing predictive analysis.
Many corporate industries and sectors like health care industry, SCM are already started to utilize these highlights. Most notably health care industry is the topmost beneficiary of both AI and Blockchain.
Blockchain in Healthcare
Blockchain Supports health care Industry by helping the experts to securely maintain Health Information Exchanges (HIE) also let them the health data’s to be more manageable, and also interoperable.
AI Support Health Care Industry as Blockchain Does
The technology of Artificial intelligence has created a huge influence in the world of medicine. Reports around the world say by 2033 AI can prevent nearly 22,000 deaths by improving the cancer diagnosis.
Not alone the health care industry. But, both technology can support many industries, which includes government and private sectors too.
Let’s hope for the new digital era all over the world!
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