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The European Commission says the convergence between Blockchain and AI is an “upcoming trend” to keep an eye on
European Union (EU) researchers believe the convergence of blockchain technology and artificial intelligence (AI) could have “significant potential”.
In a new one relationshipThe EU Blockchain Observatory and Forum (EUBOF), an initiative that monitors distributed ledger developments across the continent, has probed the current regulatory status of crypto assets in the 27 EU member states, as well as the UK and in Switzerland.
EUBOF researchers also examined potential future trends in the digital asset space, highlighting that artificial intelligence and blockchain could enhance each other’s capabilities.
The researchers explain
“Blockchain can provide a secure and transparent framework for AI data, ensuring data integrity and privacy. This is particularly important in sectors such as healthcare and finance, where data security is paramount…
Blockchain can enable decentralized AI networks, where AI models and data are distributed across a blockchain network. This can reduce the risk of data monopoly and promote the collaborative development of artificial intelligence…
AI can improve the functionality of smart contracts by enabling more complex and adaptive contract terms. This can lead to more efficient and automated processes in various industries.”
EUBOF researchers also predict that decentralized finance (DeFi) will continue to expand, that more chains will implement interoperable capabilities, and that there will be a continued push towards more environmentally sustainable blockchain solutions.
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