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WHY BITCOINS AND OTHER CRYPTOCURRENCIES WOULDN’T SURVIVE WITHOUT ARTIFICIAL INTELLIGENCE

CRYPTOCURRENCIES' BLOCKCHAIN VS ARTIFICIAL INTELLIGENCE

Artificial Intelligence, Brain, Think
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cryptocurrencies' inter-networking method

Bitcoin, Currency, Technology, Money
bitcoin, a digital currency

A good look into the two must trending technology across the globe recently is the Artificial intelligence and the Blockchain which includes, the bitcoins and other cryptocurrencies.

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These technologies are special and intricate to handle. Mere thinking of AI would signal its use for industrial machines, robots, drones and driverless cars only, but in reality, it goes beyond that.

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Artificial Intelligence had first existed in its software form and the existence in the software made it possible to be translated into the hardware form. For instance, the flying robot in the form of an autonomous drone made by popular drone manufacturing firm mentioned in my previous post revealed that the drone flies with a GPS system to locate any destination it was programmed.

However, a publisher at a popular Artificial intelligence website had said that we had been using AI without knowing it or recognizing it. The publisher information points to the popular google map app used for tracking and location of places as she cited the app to be one of the software working with artificial intelligence here is her statement

I’ll tell you a little secret, you’re already trusting AI and using it every day.

 

I live in the US, close enough to the Canadian border to make a drive to Montreal in a few hours. I have no idea how to get to Montreal from my house and no idea how to get around the city once I’m there, yet I managed to find my way over pretty easily and navigate to my favorite spots (PM me for a yummy poutine recommendation…)

 

How did I do that? I used Google Maps, an AI-powered application that finds the best and fastest way for you to get from one place to another in many places around the globe.”

So the google map is believed to be working with artificial intelligence which is why it could show you the direction of where you wants to go, possibly the kilometers it covers, names of the popular places in that destination, among other unique features with the sole purpose of helping you get to your destination.

Without any human aid, the google map will be able to take you to many streets around the world where you had never been before, it is not being controlled by Google whenever you are using the map, rather it is an already programmed technology which only needs updating from time to time. The whole GPS system is a clear evidence of artificial intelligence existing in the software form.

For the drone using GPS and google map to make a flight, what would we call it? Wouldn’t it be a software AI manifested in the hardware form?

SO CAN WE NOW SAY THAT ARTIFICIAL INTELLIGENCE IS ONLY FOR ROBOTS, DRONES, AND INDUSTRIAL MACHINES?

The truth remains that the application of the AI is very versatile and its principle of operation works to favor every sector of technology including the current trending bitcoin and other cryptocurrencies using the Blockchain.

AI is a technology that enables autonomous actions based on the pre-programmed functions. Blockchain technology used by the digital currencies is an inter-networking system whose working principle may actually be based on calculations which enable the transfer of digits in the form of payment to their users. Blockchain which is based on such principle cannot function effectively without a well programmed AI. In fact, Blockchain needs a higher level of AI technology especially following the rising values and demands for the cryptocurrencies.

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An artificial intelligence capable of handling over a billion digital transfer within every twenty-four hours should be the target of the whole cryptocurrency companies in order to withstand possible traffic in the future when most people will depend on the digital currencies for their online transactions.

If a higher level of AI is needed for the digital currencies in the future, it means that at its basic, the Blockchain needs the artificial intelligence currently which I believe is already in place that is why the system had not recorded any backdrop so far.

The evidence of the presence of AI in the current Blockchain technology can be seen from the Blockchain apps which is usually activated and programmed to send and receive payments in the form of specific digits exchange between two or more accounts instead of hard notes or coins.

Therefore, without AI such system wouldn’t function properly because the app will need to send a direct signal for the company operating the currency at their control base, upon approval; the company will now make the transfer by exchanging the digits of the sender with that of the receiver in accordance with the amount of payment signal received manually using computers.

Following the above process will not only make the cryptocurrencies' system dull by delaying some transactions longer than expected, it can discourage many people from using the digital currency and the worst may happen when more people get involved in the use of the cryptocurrencies which may cause the companies involved to start receiving transaction signals beyond the number they would control at a time, a situation capable of shutting the entire system down.

But the presence of AI has made it possible for the whole transactions occurring within each digital currency domain to be autonomous, instant, and free from any external control including the currency firm.

Based on the whole explanation, can the Blockchain survive without artificial intelligence?

Bitcoin, Crypto-Currency, Currency

 

 

 

 

 

Originally posted 2018-08-13 05:25:03.

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