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Author Topic: Blockchain and AI will improve the world economy  (Read 1221 times)
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April 23, 2018, 05:10:55 PM
Merited by Safebit.io (2)
 #1

Since the inception of the blockchain with Bitcoin in 2009, there has been a huge interest from governments, and central banks alike to design their own centralized digital fiat currency for their benefit. Given the security benefits and efficiencies that the blockchain provides, it would be used well in conjunction with AI technology, to transform the global economy in ways we've never thought possible.

As such, there could be a future where everything is managed by AI and the blockchain would serve as the security and settlement layer for any kind of transaction. A one world currency might become a reality where it is backed by all the banks and governments alike. If this happens, then true autonomy would become established enabling everyday devices to operate on their own and "monetize" themselves via the use of a single unified global currency which operates on a blockchain.

Therefore, both the blockchain and AI will have a huge impact in our world economy, and every aspect of our lives as we know it. Of course, this might take quite a few years to happen, but the benefits provided by such technologies would be too hard to ignore.

What are your thoughts about this? Will both Blockchain and AI improve the world's economy?  Huh


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April 23, 2018, 06:09:54 PM
 #2

I fully agree with the fact that Blockchain can change and improve the world economic system. It is already doing it. Using Blockchain, the nodes in the network don`t need to know each other or trust each other, because they have the ability to control and confirm the links of the data on their own. This is an innovative way of conducting financial transactions.

Blockchain technology will allow you to fully automate the services by sending an economic model of the "distributed economy" to retirement. Money transfers in the crypto currency are already showing us how far they are ahead of classical financial technologies. And we will see similar things in insurance, in energy, and in other infrastructure industries.
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April 23, 2018, 06:11:34 PM
Merited by dbshck (2)
 #3

A one world currency might become a reality where it is backed by all the banks and governments alike.

How would this work? If this currency is backed by banks and countries, then it looks like a centralized coin, and it would just inherit all the problems that we already have with multiple currencies, in every single country or union. I mean, this would be like dollar or euro, but in a world scale. I don't think this would solve anything, and I don't even think this will ever be possible.

I don't see how a coin could be shared by the US and Russia, or Iran, or China, etc. These countries simply wouldn't work well together. They can tolerate each other, but working together is a complete different thing.

I do think that a decentralized currency could exist worldwide, and I'm of course talking about bitcoin here. But it needs to be decentralized and not backed by anyone. Just a currency that gets it's value on a free market, ruled by supply and demand.
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April 23, 2018, 11:47:55 PM
 #4

I still think AI is vastly overrated. There haven't been many software based breakthroughs or advancements in the past 50 years. The gains we've witnessed from the AI industry are primarily produced by advances in hardware(faster clock cycles, greater processor parallelism, improved branch prediction, being able to fit more transistors on a die). Many successes falsely attributed to AI are brute force mechanisms which calculate every possible move on a chess board. It is arguable that these types of brute force programs are not intelligent. They have no more brain power than an app which tries every possible combination of alphanumeric characters to brute force a password.

What makes things complicated is we still don't understand how specifics regarding how human consciousness functions. There are still many unknowns and so we can't model AI software after true human consciousness although there are many AI applications which benefit from advances made in biomimicry and other fields which attempt to emulate organic processes in silicon.

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April 24, 2018, 11:53:34 AM
 #5

Block chain and AI are the two most popular technology trends today!

Blockchain and AI combine to create a lot of new things!

Intelligent life and credit life redefine people's lifestyle!
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April 24, 2018, 01:19:17 PM
 #6

Since the inception of the blockchain with Bitcoin in 2009, there has been a huge interest from governments, and central banks alike to design their own centralized digital fiat currency for their benefit. Given the security benefits and efficiencies that the blockchain provides, it would be used well in conjunction with AI technology, to transform the global economy in ways we've never thought possible.

As such, there could be a future where everything is managed by AI and the blockchain would serve as the security and settlement layer for any kind of transaction. A one world currency might become a reality where it is backed by all the banks and governments alike. If this happens, then true autonomy would become established enabling everyday devices to operate on their own and "monetize" themselves via the use of a single unified global currency which operates on a blockchain.

Therefore, both the blockchain and AI will have a huge impact in our world economy, and every aspect of our lives as we know it. Of course, this might take quite a few years to happen, but the benefits provided by such technologies would be too hard to ignore.

What are your thoughts about this? Will both Blockchain and AI improve the world's economy?  Huh

By convergence of Blockchain and Artificial Intelligence (AI), the Blockchain will make AI smarter by feeding it better data. There are multiple reasons to say Blockchain and AI are made for each other.

As We know that the data stored in Blockchain are highly secured by nature, what it means blockchain is ideal for storing highly sensitive data and information which will be smartly processed so a user can easily access and unlock so much value and convenience in lives.
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April 24, 2018, 01:32:42 PM
 #7

Yes. Both Blockchain and AI improve the world's economy. That is what bitcoin was built for in the first place right? It is meant to decentralize financial transactions and with that decentralization comes more efficient markets and less economic silos. I imagine it will foster trade and communication across different countries.

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April 24, 2018, 03:43:47 PM
 #8

There are many countries who are already working on this scenario. I mean country like India is things to adapt some of the feature of blockchain and use it to transmit huge documents to the end user via it. India is country where the documents is mess when it comes to the storage of it and looking at the population of the same I am sure its far better logical to implement that system. I mea this kind of digitalisation and gradual use of the blockchain and based AI would do great in the future. I also think that time is not far when companies like google will adapt these techs to implement in the automated cars and stuff like that.

   

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April 24, 2018, 03:55:30 PM
 #9

There are many countries who are already working on this scenario. I mean country like India is things to adapt some of the feature of blockchain and use it to transmit huge documents to the end user via it. India is country where the documents is mess when it comes to the storage of it and looking at the population of the same I am sure it's far better logical to implement that system. I mea this kind of digitalisation and gradual use of the blockchain and based AI would do great in the future. I also think that time is not far when companies like google will adapt these techs to implement in the automated cars and stuff like that.

I believe countries like India are focusing on tech rather than actively changing the stock market with blockchains and AI, countries like Israel and Philippines are reportedly doing the same thing...
Rather than revolutionizing the world market, I believe blockchain will establish a new and strong market and so affect others, but I believe AI has way more room to change things than blockchain, and it will always be.
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April 24, 2018, 04:04:33 PM
 #10

Blockchain technology is the future of our economy and our leaders need to study it very well and find out the advantages and the disadvantages before adopting it into our financial system. many people including governments of some nations seeing Blockchain technology as enemycal but I think Blockchain technology can be supportive to the financial system of any economy.
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April 24, 2018, 04:54:27 PM
 #11

Since the inception of the blockchain with Bitcoin in 2009, there has been a huge interest from governments, and central banks alike to design their own centralized digital fiat currency for their benefit. Given the security benefits and efficiencies that the blockchain provides, it would be used well in conjunction with AI technology, to transform the global economy in ways we've never thought possible.

As such, there could be a future where everything is managed by AI and the blockchain would serve as the security and settlement layer for any kind of transaction. A one world currency might become a reality where it is backed by all the banks and governments alike. If this happens, then true autonomy would become established enabling everyday devices to operate on their own and "monetize" themselves via the use of a single unified global currency which operates on a blockchain.

Therefore, both the blockchain and AI will have a huge impact in our world economy, and every aspect of our lives as we know it. Of course, this might take quite a few years to happen, but the benefits provided by such technologies would be too hard to ignore.

What are your thoughts about this? Will both Blockchain and AI improve the world's economy?  Huh
There are already such blockchain projects which are related to AI development. One of them I ran into yesterday was deedcoin, which hires both bots and people in real estate business. Surely among the projects like that we can name the one with your signature, IOS, as well as IOTA. Both deal with Internet of Things and that's basically blockchain helping various AI to communicate with one another.
As for improving the economy - that's tricky. While blockchain gives people the free market and a right to generate money instead of only using it, AI automatizes the processes people are now making happen. Thus, AI can take away a lot of jobs from people and while it is potentially beneficial to the companies which do that as well as humanity in general, since people are encouraged to do more intellectual work, this can lead to mass unemployment which is not a good thing for economy. People have to be prepared for the changes which are about to come.

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April 24, 2018, 05:16:13 PM
 #12

Sooner or later will happen.

Blockchain technology has grown rapidly since its creation in 2009. This technology offers many high-security systems, forming trust and transparency. Therefore, many world companies are already exploiting and developing blockchain technology that can be used to assist their operations. By using blockchain technology the company can prune intermediaries to send administrative processes.

AI (Artificial Intelligence) is a system to optimize computer system in assisting human role. At this time Artificial Intelligence has been widely developed as in the field of economy, education, security, court, transportation, military. I'm sure in the future this system will be believed to be in all areas of work. So for me, in the future blockchain and AI just not improve the world economy, but the human mind to the technology world will not be separated.


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April 24, 2018, 11:08:44 PM
 #13

Since 2009 up to now, we can see how bitcoin revolutionized the economy. Our century is filled of innovation. Almost everytime, we will notice every changes that create using technology. One of this changes are blockchain and AI, both of these changes are really amazing. There are unstoppable growth of commercial and industry projects because of blockchain and AI is already integrated in work, leisure or everything. Technology becomes part of our life, as time goes by, human unlocks the darkness of life.

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April 24, 2018, 11:21:33 PM
 #14

Block chain and AI are the two most popular technology trends today!

Blockchain and AI combine to create a lot of new things!

Intelligent life and credit life redefine people's lifestyle!

I believe on this two great technology of this generation and I know this can be a big thing in the future. Government should realize the importance of this great innovation with blockchain and AI technology. If you look at the history price and technology of bitcoin, you see a great improvements and a big impact in a world economy.

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April 24, 2018, 11:39:39 PM
 #15

Block chain and AI are the two most popular technology trends today!

Blockchain and AI combine to create a lot of new things!

Intelligent life and credit life redefine people's lifestyle!

I believe on this two great technology of this generation and I know this can be a big thing in the future. Government should realize the importance of this great innovation with blockchain and AI technology. If you look at the history price and technology of bitcoin, you see a great improvements and a big impact in a world economy.
If only government will try it, they will see how it can give transparency and reliability in transactions that can help their nation achieve its goal on being trusted.

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April 24, 2018, 11:53:24 PM
 #16

Here's an interesting thought for the AI discussion.

If someday artificial intelligence is smart enough to replace doctors, lawyers, engineers, scientists--virtually every form of employment and every job on the planet. What happens to job markets? Does society and civilization experience some massive shift where people no longer work? If we no longer work, how do we support ourselves?

Already we see pushes for self driving buses, robotic submarines armed with nuclear missiles, drone aircraft. Perhaps the prime motive for developing better AI comes not from benefits to humanity but rather a desire to eliminate human workers and replace them with robots? Wouldn't that be an interesting twist?

Of course, given Elon Musk and Tesla's recent struggles with attempting to replace human workers with automation in car factories, which appears to be resulting in failure. Factor in recent failures with self driving car technology. Perhaps that goal is further away than it is to being fully realized.

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April 25, 2018, 12:21:37 AM
 #17

I think blockchain will help to build a better economic for its country, it makes the transaction become easier and there are so many other usage, and with AI the combination will be absolutely stunning, more and more creative innovation will come out and we will get the advantage, in the future I can imagine it will be very easy to do transaction globally for all people in the world

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sreecanvas
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April 25, 2018, 06:07:17 AM
 #18

Block chain and AI are the two most popular technology trends today!By convergence of Blockchain and Artificial Intelligence (AI), the Blockchain will make AI smarter by feeding it better data.  I mea this kind of digitalisation and gradual use of the blockchain and based AI would do great in the future.
Tynovten_
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April 25, 2018, 11:51:09 AM
 #19

This will be a really great thing, blockchain will be a very important thing because the system that transparency.  And also Al just like how the development right now entering handphone technology although right now still nonexpert but for all the technology experts are vouch Al will be the technology needed that always be developed. Of course it will be

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April 25, 2018, 12:16:56 PM
 #20

Any technology always has a dual purpose. They can always be used for good deeds and for bad. I don't really hope for artificial intelligence. Any hacker can change the robot and he can do a lot of harm. It seems to me that man is much more reliable.
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