Blockchain Technology Could Be Vital for Taking AI Technology to the Next Level - Bitcoin and Altcoins News

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June 18, 2019

Blockchain Technology Could Be Vital for Taking AI Technology to the Next Level

Venture capitalists, entrepreneurs, and academics rushed to embrace the extraordinary synergies resulting from the application of Bitcoin (BTC) blockchain technology and artificial intelligence (AI).
Dr. Ben Goertzel, CEO of SingularityNet and chief scientist at Hanson Robotics, stressed that the blockchain might help make AI more accessible to small and medium-sized companies. Indeed, he stressed that AI could be ‘democratized’ through the use of blockchain technology.
One of the main virtues of the centralized blockchain is that it eliminates central intermediaries and authorities. Decentralization is very important to enable AI networks to exchange large amounts of data without a single authority in controlling data or algorithms.

Nathaniel Popper from The New York Times wrote that some startups have set up a blockchain-based market for trade data. For example, Popper refers to the Ocean Protocol, which is a decentralized data exchange protocol for sharing data and services through blockchain use. According to the company’s website, Ocean is designed to unlock data for AI that allows sharing and selling in a safe environment.
In this case, many entrepreneurs agree with Dr. Song and Dr. Goertzel that the blockchain has the power to facilitate extensive distribution of data and algorithms. Therefore, the blockchain is likely to play a key role in determining how AI will continue to grow.

As a result, Song and Goertzel, in an interview with The New York Times, highlighted the importance of ensuring that machine learning capabilities must be under the control of data owners rather than large companies.
For example, people are worried about the fact that Google and Facebook have tremendous power to get and store personal data. But to overcome this problem, Professor Song is now developing Oasis, a blockchain-based technique to protect the data being sold, “so that no one — even the company that uses that data — will get the copy.”

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