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How artificial intelligence can enhance blockchain platforms

36 | 5/31/2021 4:00:00 PM

As the EU Blockchain Forum noted in a recent report, combining these two technologies isn’t just desirable… it is a necessity. The authors wrote: “In the real world, especially in large-scale use cases, blockchain, AI and IoT are likely to work in concert. In a smart city, blockchain could be combined with IoT and AI on an infrastructure level to manage critical systems that cities depend upon, as well as improve quality of life for residents through safer and better designed urban environments.”

Experts have argued that AI can be just as effective as people are at many tasks — and better still, they can operate 24/7 without suffering from fatigue or becoming susceptible to human error. Likewise, blockchains are increasingly being deployed to provide transparency transactions and data to consumers. The possibilities are endless as long as there’s a way for blockchain developers to implement AI into their platforms.

A developers platform called Oraichain Studio helps integrate those APIs into smart contracts was launched in April 2021 — verifying the correctness of AI output, and then distributing the data generated across multiple blockchains without centralized control. In time, this could broaden access to highly trained AI models, enabling greater numbers of people to benefit from what this technology has to offer.  

Oraichain has created a marketplace where experts can sell their services — ranging from AI-enhanced yield farming to price prediction and face authentication tools. As well as enabling specialists to monetize their work, executives argue that this allows smaller firms to enjoy a more level playing field with the industry titans who dominate the space. 

The business is about to launch a new system, aiRight. Described as the world’s first all-in-one NFT creation and copyright management platform, it offers a complete set of services for the nonfungible token market — including generating NFTs with AI and securing copyrights on-chain. AI services also allow users to easily verify the uniqueness and authenticity of NFTs.

The company was launched by Dr Chung Dao, who has a PhD in computer science and lectures at Hanoi University of Science and Technology. In the last six months, Oraichain announced that it had formed a number of strategic partnerships with Rikkeisoft, KardiaChain, VAIOT, and OCEAN Protocol. 

Rikkeisoft is a Vietnam-based IT firm with more than 1,000 employees, that would provide Oraichain necessary human resources to enhance some of Oraichain’s flagship projects — including the DeFi-focused service yAI.finance, and its AI marketplace, aiRight, and more to come.

Source: https://cointelegraph.com/news/how-artificial-intelligence-can-enhance-blockchain-platforms