Blockchain technologies, once used exclusively for buying and selling bit coins, have entered the mainstream of computer applications, fundamentally changing the way Internet transactions can be implemented by ascertaining trust between unknown parties. In addition, they ensure immutability (once information is entered it cannot be modified), incorporate disintermediation (as trust is assured, no third party is required to verify transactions) and results in lower costs (lesser fees are paid to third parties) and greater speed. These four advantages can produce disruptive changes when properly exploited, inspiring a large number of applications to be developed and implemented. These applications are forming the backbone of what can be called the Internet of value, bound to bring as significant changes as those brought during the last twenty years by the traditional Internet. This paper investigates blockchain and the technologies behind it, including bitcoins and other crypto currencies, and explain their technological might and outstanding potentials not only for transactions but also as distributed databases. It also discusses its future prospects and the disrupted changes it promises to bring while also considering the challenges that would need to be overcome for its widespread adoption. Finally, the paper considers combining blockchain with Artificial Intelligence (AI) and discusses the revolutionary changes that would result by rapidly advancing the AI field.
|Number of pages||12|
|Journal||Robotics & Automation Engineering Journal|
|Publication status||Published - 22 Mar 2018|
- Blockchain applications; AI applications; Combining blockchain and AI; Disruptive technologies; Smart contracts; DAO; Decentralized storage; IoT; Internet of value; Decentralized cloud storage; Supply chain operations; Blockchain/AI Startups