If you would like to know the definition of blockchain and simply type in ‘define blockchain’ into the google search bar, then this is the definition you will immediately receive.
‘A system in which a record of transactions made in bitcoin or another cryptocurrency is maintained across several computers that are linked in a peer-to-peer network.’
At the same time, if you go ahead and search for artificial intelligence, you will also receive the following as an answer.
‘The theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.’
As it has been noted by Kailash Nadh at the LiveMint, these two technological advances are very different and not related; as a result, the two concepts should not be shoehorned together.
If you are to look at any whitepaper that was developed for a coin offering between the 2017 and 2018 there is a very good chance that you will find the project planning to marry the blockchain technology to the artificial intelligence miraculously.
This is proposed to not only reduce or just provide businesses with business solutions but also be able to solve all the problems that we are facing in the world.
Just to make it all a complete package you just need to throw in some robots and astronauts, and there you have a compelling package.
We seem to have a long way to go with the two concepts; artificial intelligence and the blockchain technology
The sad thing is that the maturing market has not been able to shake this new buzz word of lumping the blockchain technology with robots and artificial intelligence.
As Nadh had noted it, it is important to note that the latter is a term which has been able to encompass an extensive variety of concepts, technologies, and techniques, all that has been developed to make the computers behave more intelligently.
While, the blockchain has just been co-opted as being an all-encompassing terminology that is used for anything that is remotely related to the crypto market or even the distributed technology ledger.
Which tends to sound a little better than the legacy financial system as opposed to the Bitcoin, BTC, which is actually designed as an open anarchical digital-currency that will not require any third party thus it is determinate in supply.
Now the big question is, will the artificial intelligence together with the blockchain technology come together in the levels people are either being misled or believe. It could happen but only if the government went ahead to humanoid the robot enforcers that are displaying the same levels of artificial intelligence come together and scan the chip that is placed in your hand.
This is just to make sure that all the transactions that are on the Federal Reserve actually add up.