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February 24, 2018, 12:28:26 PM |
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I lately thought much about the growth of data science and blockchain technology.
Both sectors are making huge progresses at the time we are speaking. Yet, both technologies currently grow separately.
Todays Convolution Neuronal Networks have already exceeded human sensory capabilites. Their "weak" point is the lack of data in many fields, that prevents a sufficent training for optimal pattern recognition.
If something doesn't lack in blockchain technology, then it's data. The data is also free to access and distinct.
Thus, I expect an expansion of pattern recognition systems into the field of blockchain technology.
In the current stage of cryptocurrency acceptance this shouldn't be a threat. But in the near future, when cryptocurrency spread its usage and develope more use cases, pattern recognition becomes a powerful tool to analyze the blockchain and its users. Although wallet addresses are not bound to an actual indivdiual, its patterns can draw conclusions about personal behaviour, preferences, circumstances. Only small amounts of meta data are able to allow determined inference, which carries huge power with it.
Like most technological enhancements this implies many benefits, but it might also imply dangers, especially if this data gets not treated responsibly.
Many governments are working on software to analyze blockchains. Not in terms of pattern recoginition, but to be able evaluate specific cash flows. This aspect becomes important when it comes to tax payments.
Nevertheless I am very confident that it's only a matter of time until cnn's absorb blockchains. That's why it's in my opinion important to discuss the consequences and how cryptocurrencies should handle this matter. Developing CNN-proof blockchains could get a thing in the future and become major feature for privacy coins.
Why are your opinions?
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