Disruptive technologies transform traditional industries
Artificial Intelligence and Blockchain are the 2 new components of digital business. Blockchains enable us to verify, execute and record. Artificial intelligence helps us in decision-making, evaluating, understanding and recognition. While automatic learning methods that are part of artificial intelligence help us find opportunities and improve decision-making, Smart Contracts and Blockchains can help automate verification of the transactional parts of the process. Artificial intelligence combines hardware, software, infrastructure and learning to facilitate planning, control, regulation and decision-making in an organization.
Some Artificial Intelligence applications in Blockchains include:
Millions of adults do not use Banks or financial institutions. Applications where users can manage their finances safely from their mobile phones through a digital wallet. Unlike current digital wallets, this wallet is their bank, not a link to it. Imagine a giant interactive spreadsheet capable of containing infinite volumes of information and keeping each step visible. This allows the user to trace every change, eliminating the possibility of tampering from a third party. Eradicating the possibility of fraudulent activity creates trust between a financial establishment and its user.
Smart Contracts to provide transparent proof, giving owners a platform to sell independently as a digital deed, or Smart Contract, eliminates broker and transaction fees. A Smart Contract, is an immutable legal document that could verify buyer credentials. People and companies could use a smart contract to sell properties directly to the buyer. After the sale, the document would be stored in the Blockchain for easy access from either of the parties. Each property would be given an identity and record that would track and store important information about the estate. As more proprietors are added to the Blockchain, the process of finding a home will become more transparent and convenient.
Secure and immutable storage of medical records, patient register, clinical history and identity reports, clinical data, interpretation, ideas for studies and genetic research.