augmented intelligence certification (AI) into people’s lives is that due to the volume of data that drives its decisions, AI can be very complex and difficult to understand. Many people think that <a href="https://www.bbvaopenmind.com/en/technology/artificial-intelligence/blockchain-and-ai-a-perfect-match/" target="_blank" class="color-link" title="https://www.bbvaopenmind.com/en/technology/artificial-intelligence/blockchain-and-ai-a-perfect-match/" rel="nofollow noopener">blockchain could be an antidote</a> to this, due to its ability to make decision-making traceable and ensure that the decisions are based on verified and provable information. </p><p>The benefits go both ways – as well as blockchain increasing the usefulness of AI, AI can be put to work to make blockchains more secure, and blockchain-based tools easier to operate and user-friendly.</p><p>By combining these breakthrough technologies, companies can make predictions more quickly and accurately, cut waste generated by production processes, streamline supply chains, and more quickly match their products and services to new markets. With the value of this technological partnership becoming more apparent, its highly likely we will continue to see an increase in this type of innovation throughout 2020, and the appearance of the first combined blockchain and AI platforms from cloud service providers.</p><p><strong>Blockchain technology securing the Internet of Things</strong></p><p>It’s an unavoidable fact that the more connected devices we use to share and process data in our personal lives and in business, the more opportunities there are for attackers to hijack that data – or for it simply to be lost or misplaced. As industry moves increasingly towards digital transformation and more and more work involves machine-to-machine communication, it becomes increasingly important that information is stored and recorded in a trustworthy, tamper-proof manner. </p><p>Blockchain and other forms of distributed ledger, of course, provide a solution to this that is as close to perfect as it’s currently possible to get. Every transaction of information is permanently recorded in a way that is transparent to all parties – an essential factor when organizations rely on machinery, tools, and software from many different suppliers. This means that when things go wrong, its comparatively simple to understand where a breakdown in communications, or even a breach by a malicious third-party, caused a problem.</p><p>According to <a href="https://www.gartner.com/en/newsroom/press-releases/2019-12-12-gartner-survey-reveals-blockchain-adoption-combined-with-iot-adoption-is-booming-in-the-us" target="_blank" class="color-link" title="https://www.gartner.com/en/newsroom/press-releases/2019-12-12-gartner-survey-reveals-blockchain-adoption-combined-with-iot-adoption-is-booming-in-the-us" rel="nofollow noopener">Gartner’s research</a>, a majority (75%) of organizations that have adopted IoT technology either have already integrated blockchain, or are planning on doing so during 2020.</p><p><strong>Other jurisdictions follow Wyoming’s lead</strong></p><p>This year, the state of Wyoming became the <a href="https://www.newsbtc.com/2019/11/20/wyoming-sets-standard-for-u-s-passing-13-blockchain-laws-in-2019/" target="_blank" class="color-link" title="https://www.newsbtc.com/2019/11/20/wyoming-sets-standard-for-u-s-passing-13-blockchain-laws-in-2019/" rel="nofollow noopener">first in the US</a> to clear a legal framework designed to allow blockchain innovation to flourish, while providing the regulatory oversight needed to protect against the potential pitfalls.</p><p>When the first cryptocurrencies emerged, and anonymous, digital transfers of value between anyone in the world became possible for the first time, regulators and central banks were quick to draw attention to their obvious potential in money laundering and other nefarious financial activity.</p><p>So far, it’s these concerns that have largely kept digital currencies out of mainstream use – the US Securities and Exchange Commission (SEC) has consistently rejected applications to establish publicly-traded cryptocurrency-based financial instruments. </p><p>The decision by Wyoming legislators doesn’t change this. However, the decision to issue 13 laws designed to provide a legal framework for blockchain and digital currencies is a signal that, in some locales at least, there’s a belief that regulation should be an enabler rather than a blocker of technological innovation. During 2020 we can expect lawmakers in other states, and around the world, to be keeping a close eye on Wyoming, and perhaps even following in its steps. </p><p>Blockchain is one of my 7 top tech trends for 2020, check out this video to learn about the other six: </p><div class="embed-base embedly-align "><fbs-embedly style="padding-bottom: 56.21%;" iframe-src="https://cdn.embedly.com/widgets/media.html?src=https%3A%2F%2Fwww.youtube.com%2Fembed%2FdNoeqow9RZM%3Ffeature%3Doembed&url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DdNoeqow9RZM&image=https%3A%2F%2Fi.ytimg.com%2Fvi%2FdNoeqow9RZM%2Fhqdefault.jpg&key=cfc0fb0733504c77aa4a6ac07caaffc7&type=text%2Fhtml&schema=youtube"></fbs-embedly></div>”>
Whilst it’s legitimate that the media hoopla about blockchain, bitcoins, and dispersed ledgers has died down, businesses ongoing to spend in study, enhancement, and deployment of these systems all over 2019. This yr will just about undoubtedly be no various – Gartner analysts have the moment yet again highlighted blockchain as one of their leading 10 technologies trends for the coming year. You could also be intrigued in my video on making use of blockchain for small business:
Really don’t tumble into the entice of wondering that blockchain and dispersed ledger technological know-how is yesterday’s information. In reality, it is even now very a great deal in its infancy – only a comparatively modest range of businesses have attained a sufficient amount of maturity in their digital operations that they are in a posture to successfully leverage it. The potential of blockchain is extremely much intertwined with other emerging and nascent systems like AI and IoT. These are some of the concerns I have regarded in my predictions for 2020, which you can go through below:
Financial solutions still the early adopters but others will abide by
With blockchain’s debut on the world phase taking the sort of digital cryptocurrency Bitcoin, its not shocking that finance was the initial sector of sector to just take an desire, and has been buzzing with innovation and breakthroughs ever because. This activity hasn’t been restricted to the concept of virtual currencies – blockchain can be utilized to create fraud-resistant clearing and settlement programs, wise contracts (digital contracts which execute themselves when situations are achieved), and drastically velocity up digital transactions.
IBM – which says it is has aided launch more prosperous blockchain initiatives that any other enterprise – sees expense in blockchain engineering by financial products and services businesses escalating through 2020, but it undoubtedly won’t prevent there. And Gartner has predicted that by 2020 additional than $1 billion of worth will have been derived by banking institutions from the use of blockchain-centered technological innovation.
But it absolutely won’t quit there. Blockchain technologies has simple worth for any place of sector that necessitates that data of transactions are held safe, and that action can be carried out in a traceable way. Latest initiatives contain monitoring the provenance of agricultural products and solutions and livestock it moves “from farm to fork,” and even making sure the provenance of diamonds and other cherished stones can be tested.
Fb launches its digital currency
Fb designs to unleash its personal cryptocurrency on the planet early in 2020, and while several of the facts are even now under wraps, it really is now producing a ton of enjoyment – and also worry.
There have been a good deal of cryptocurrencies in the past – effectively over 1,000 have released since Bitcoin arrived in 2009, with the extensive bulk swiftly sinking without trace. But none have been introduced with the backing of an business the dimensions of Facebook- a variable which could signify that the implications of this individual coin go considerably further than something we have witnessed but.
It’s definitely been a rocky street – late this yr Mastercard and Visa each declared they are withdrawing their assistance thanks to uncertainty more than regulatory troubles. This would be more than enough to eliminate most business ventures – even so Fb (a business with a value of $550 bn – much more than either of the credit score card giants) is urgent ahead no matter.
Even though technically a cryptocurrency (a process of payment which depends on personal computer encryption to assurance the integrity of the community), Facebook’s Libra works in a different way to Bitcoin and the the vast majority of other digital currencies. Its blockchain network will be centralized – underneath the authority of the association accountable for working it – and not a dispersed, “trustless” method, as championed by the cryptocurrency pioneers. But if it can take off, it could be the initial virtual currency to are living up to the assure of disrupting the existing, currency-centered international monetary program.
Blockchain and AI integration proceeds to obtain tempo
A single of the issues when it will come to integrating augmented intelligence certification (AI) into people’s life is that due to the quantity of details that drives its choices, AI can be pretty complicated and tough to comprehend. A lot of men and women imagine that blockchain could be an antidote to this, thanks to its capacity to make decision-making traceable and assure that the decisions are based on confirmed and provable info.
The gains go both approaches – as effectively as blockchain expanding the usefulness of AI, AI can be put to get the job done to make blockchains much more safe, and blockchain-dependent tools less complicated to run and person-welcoming.
By combining these breakthrough systems, companies can make predictions more promptly and correctly, slice squander produced by production procedures, streamline source chains, and extra immediately match their solutions and companies to new markets. With the benefit of this technological partnership starting to be additional obvious, its hugely possible we…