Blockchain

Business Solutions Combining the Power of AI with Blockchain Are Streaming into the Market

Julio Gil-Pulgar · @gil_pulgar | Jun 01, 2018 | 22:00

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The rush to combine the awesome power of blockchain technology with artificial intelligence (AI) continues to gain momentum, disrupting every industry. For example, DeepBrain Chain combines AI with Bitcoin’s blockchain technology to help AI enterprises save up to 70 percent of their computing power costs. In parallel, innovative financial enterprises, such as TradeConnect, are using machine learning (ML) and blockchain to better understand the financial markets.

Servers Optimized for AI Computing and Cryptocurrency Mining

DeepBrain Chain announced pre-order of its DBC AIM machines on May 18, 2018. After just a couple of weeks, on June 1, DeepBrain Chain claimed that it had already received reservations worth over USD 100 million.

DeepBrain Chain AIM machines are intended to perform for AI computing and DBC mining purposes. According to a June 1 press release,

The launch of ‘DBC AIM’ represents an important milestone in DeepBrain Chain’s mission to build a globally decentralized AI cloud. As computing nodes in the DeepBrain Chain ecosystem, DBC AIM will provide cheaper and more convenient computing power for AI companies.

DeepBrain Chain is an AI computing platform powered by blockchain technology. According to the whitepaper, it uses blockchain technology to integrate computing resources that are scattered all over the world.

With this approach, its management argues that it can help solve the problem of the massive waste of energy caused by the Proof-of-Work (PoW) systems. According to the company website,

DeepBrain Chain is the first and only artificial intelligence platform in the world, driven by blockchain technology. By utilizing DeepBrain Chain’s platform, artificial intelligence enterprises can reduce 70% of hardware cost.

Token rewards provide financial incentives for miners that offer AI computer power. Miners also are responsible for the maintenance and operations of the AIM machines. For this purpose, DeepBrain Chain will allocate a total of 5 billion DBC tokens for mining. As of this writing, DBC’s value is USD 0.076, with a market capitalization reaching over USD 114 million.

AI and Blockchain Are the Hottest Technologies

Increasingly, blockchain technology and AI are fueling disruptive innovations in every industry. Promising projects involving these two technologies abound, exciting researchers and investors.

For example, on May 29, 2018, CarSmartt announced that it had joined forces with Archer Robotics and Aitheon Blockchain to develop a self-driving car fleet for package delivery. On the other hand, Porsche, in collaboration with Xain, is already testing blockchain-based applications in its vehicles.

Financial journalist Roger Aitken affirms, “Researchers and a number of companies have recently been embracing AI and ML to drive innovation and solve problems.”

Can the #AI #Blockchain combo finally crack the #Crypto Market? @Forbes #artificialintelligence #BigData #bitcoin #cryptocurrency #exchanges #machinelearning #FX #forex #volatility #trading #traders https://t.co/gz7TfeHgTr

— RL Aitken (@AitkenRL) May 31, 2018

Aitken also suggests that the power of AI and blockchain will help make cryptocurrency trading easier and more efficient. Aiken writes,

Traders in speculative markets like crypto could clearly benefit from technical analysis, which uses historical quantitative data to perform. And, it is something that AI and ML can perform on large data sets with high efficiency.

In this connection, Aiken mentions TradeConnect, which uses ML and blockchain technology to facilitate the trading of cryptocurrencies, as well as the trading of traditional financial assets.

AI and blockchain technologies, when harnessed together, promise the creation of amazing and profitable new business solutions within the Internet of Everything (IoE) universe. As professor Steve Andriole predicts:

Blockchain, AI, Machine Learning, and IOE will make you money in 2018.

What are your thoughts on developing business solutions combining the power of blockchain and AI technologies? Let us know in the comments below.

Images courtesy of Pixabay, Shutterstock, Twitter/@aitkenRL