Blockchain & AI: Convergence of Future Power

Arif Furkan MENDİ

Introduction:

The simple concept of Blockchain technology is; it is a digitized,
decentralized, distributed ledger technology maintaining a continuously growing
list of data records. On the other hand, Artificial Intelligence (AI) is another
revolutionary technology that can learn on its own by analysing and discovering
patterns in massive amounts data (Makridakis, Polemitis, Giaglis, & Louce,
2018). While Blockchain helps to store and transmit safely, AI provides huge
amounts of data that helps in decision making, assessment, understanding and
recognizing. While the machine learning methods that are a part of AI help to
find opportunity and improve decision making, smart contracts and Blockchain
can automate verification of the transactional parts of the process (Makridakis et
al., 2018). Therefore, there is a natural complementarity between these
technologies. The advantages of combining Blockchain and Artificial
Intelligence technologies, difficulties and current projects will be discussed

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