AI News, The Importance Of Blockchain In Relation To AI And IoT artificial intelligence

The European Union’s blockchain observatory has released a report hailing blockchain, artificial intelligence and the Internet of Things as the future.

It said, “With its features of trust, distribution and value, Blockchain makes it possible to identify and connect physical objects and their digital representations.” Dr. Weingärtner, a professor at the Lucerne University of Applied Sciences &

Tokenization thus plays a great role in the digital transformation, allowing algorithms and smart contracts to access physical objects.

This is made possible by its large community of developers, the easy connection to the Ether crypto, the use of Solidity programming language and the working implementations.

IoT enables sensors and other devices to “transfer static representation into a dynamic duplicate.” Blockchain allows this information to be processed and stored in an environment of trust, automation and accountability.

BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

EU Blockchain Observatory Releases Report on Tokenization, AI and IoT

The report notes that blockchain would play a key role in this digital transformation by providing trust and allowing the identification and tokenization of physical objects.

Blockchain-based smart contracts also play their part, the report argues, by providing a tamper-proof computational environment and automatic execution of financial actions through the use of cryptocurrencies.

The report concludes that the combination of IoT with blockchain would allow for better supply chain management, increased trust that enables the sharing economy to grow, data trading and monetization, identity management and automatization.

The document expects the digital twin concept to become increasingly important: “Due to the exponential growth, which is described by Moore’s Law and many studies, the physical world will be exceeded by the digital world in the coming years.

This means that speed, growth and complexity will increase by a multiple.” Moore’s law refers to the observation — made by Intel’s CEO Gordon Moore in 1965 — that the number of transistors in dense integrated circuits doubles roughly every two years.

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Blockchain is virtually non-hackable, has the ability to encrypt and validate data, stores the data in a decentralised format that renders the data immutable, and offers the option to create not only public but private blockchains.

This can prove transformative for the cloud infrastructure, as companies can safely move their mission critical processes to the blockchain, do required computations and update the data ledger from time-to-time, while also getting a complete insight into the overall history of the data processing till date.

Moreover, Forbes Global 2000 list of the largest public companies for the year 2018 indicates that all the ten biggest companies across the world are actively involved with the technology, with 50 of the biggest companies on the list dabbling with blockchain [1]

While it can improve the efficiency and accuracy of the process to the highest levels, it can also be leveraged to improve the overall cyber security, especially in the present environment which is under constant threat of unforeseeable and highly sophisticated cyber-attacks.

AI could be a critical addition to the cybersecurity defence system of a company, as it can learn from the past and new as well as attempted, successful and failed attacks and train its algorithm to immediately detect abnormal activity or behaviour of a device or user and tackle the threat well in time.

The next big domain to incorporate AI could be remediation tools that can offer a comprehensive solution, integrating threat management, case management, collaboration tools and security orchestration, to automate security operations and incident response practices and offer decision support to the security operations centre, all while reducing manual work.

Companies are also venturing into projects that will allow them to integrate threat intelligence feeds into legacy security systems in order to prepare these incumbent systems to address new age security threats.

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