The Good Tech Companies - 5 Real-Life Uses of Blockchain and AI That'll Make You a Web3 Believer

Episode Date: September 20, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/5-real-life-uses-of-blockchain-and-ai-thatll-make-you-a-web3-believer. Think Web3 is just for crypto enthusiasts? These 5 blockchain and AI applications are already transforming industries. Shared by aelf, AI blockchain. Check more stories related to machine-learning at: https://hackernoon.com/c/machine-learning. You can also check exclusive content about #ai, #web3, #real-world-applications-of-ai, #ai-in-defi, #ai-in-blockchain, #aelf-blockchain, #singularitynet, #good-company, and more. This story was written by: @aelfblockchain. Learn more about this writer by checking @aelfblockchain's about page, and for more stories, please visit hackernoon.com. Think Web3 is just for crypto enthusiasts? These 5 blockchain and AI applications are already transforming industries, from finance to food safety.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. 5 Real-Life Uses of Blockchain and AI That'll Make You a Web 3 Believer, by IELF. The world of blockchain moves fast, when you throw artificial intelligence AI into the mix, it's like adding rocket fuel to a fire. The fusion of these two groundbreaking technologies is reshaping industries sounds thrilling on paper, but how does it all come together in the real world? Let's dive into five real-life applications of AI and blockchain that are already making waves, and might just convince you that Web3 will be the new norm. 1. CertiK. The guardian of Web3 security.

As blockchain technology goes mainstream, the importance of security cannot be overstated. Enter CertiK, a Web3 auditor that leverages AI to monitor and secure smart contracts on major blockchains like Ethereum, Polygon, and BNBChain. Think of CertiK as the watchful guardian of the blockchain universe, plugging security gaps and preventing vulnerabilities before they can be exploited. How it works AI-powered auditing. CertiK uses machine learning algorithms to conduct an in-depth analysis of smart contracts. It scans the code for potential bugs, security loopholes, and vulnerabilities that could be exploited by hackers. Backslash dot. Real-time monitoring. Once a contract is deployed, CertiK's AI systems continue to monitor its activity in real-time. By analyzing on-chain data and transaction patterns, the system can detect any suspicious

activities or anomalies, providing an additional layer of security. Backslash dot automated reporting Certix AI generates detailed reports highlighting the risks and potential exploits, allowing developers to quickly address these issues. This automated process ensures that even the most complex contracts are scrutinized thoroughly. Certix Active Monitoring and Identification of Security Flaws helps developers deploy more secure smart contracts, and the trust that it fosters should contribute greatly to a wider adoption of blockchain and AI technologies. 2. Numerai. AI plus DeFi equals smarter investments.

Decentralized finance, DeFi, has exploded in popularity, but what if we could make it even smarter? Numeri, a hedge fund powered by AI, is doing just that by defining how investment decisions are made. Instead of relying solely on human analysts, intuition, or luck, Numeri utilizes AI models contributed by data scientists worldwide to analyze data, predict market movements, and make investment decisions. How it works data collection Numeri collects large datasets from various sources, including historical market data, economic indicators, and trading volumes. This data is then encrypted and made available to a global network of data scientists. Backslash dot, AI model development.

Data scientists use Numerize datasets to create predictive models, applying various machine learning techniques to forecast market trends. These models are then aggregated into a meta model that drives Numerize investment strategy. Backslash dot. Smart contract execution. Numerai uses blockchain smart contracts to automate the execution of trades based on eye-driven predictions. This decentralized approach ensures transparency and reduces the risk of human error. Backslash dot. Rewards system. Data scientists are incentivized with crypto tokens for their contributions. If their models are accurate and enhance the meta model's performance, they earn rewards in Numerize native token. By combining the predictive power of AI with

the transparency and automation of blockchain, this AI-powered financial powerhouse is setting a new standard in DeFi, allowing investment strategies to be sharper, more accurate, and, importantly, unbiased. 3. SingularityNet The decentralized AI marketplace. Imagine a marketplace where anyone can access AI services in the same way they download apps from Google Play or the iOS App Store. SingularityNet is bringing this vision to life with its decentralized AI marketplace. The platform allows developers to create and monetize AI services, while users can access and integrate these services into their applications. How it works AI service listing. Developers list their AI services on SingularityNet,

which could range from image recognition and language processing to more complex AI tasks. These services are registered on the blockchain, ensuring that all transactions are secure and transparent. Backslash dot, smart contract payments. When a user wants to use an AI service, they pay for it using SingularityNet's native cryptocurrency, AGI. The payment is processed through a smart contract, which ensures that the transaction is automated, secure, and free from third-party interference. Backslash.ai Interaction. Users can interact with the AI services directly through the SingularityNet platform. For example, a business needing AI for customer sentiment analysis can use a relevant AI model directly, without having

to develop or maintain the AI infrastructure themselves. Backslash dot, revenue sharing. Developers earn AGI tokens for each use of their AI services. This creates an open marketplace where AI developers are incentivized to provide high quality, innovative solutions. Backslash dot, the result is a decentralized network of AI services that are not controlled by any single entity, promoting innovation and accessibility in the AI space where innovation isn't locked behind corporate walls. 4. Minting AI NFTs, a new frontier in digital art. The world of non-fungible tokens, NFTs, has exploded in recent years, and AI is adding a new dimension to this space. AI NFTs are digital assets generated or enhanced by artificial intelligence algorithms, creating unique pieces

of art, music, or interactive characters. These NFTs are more than just static images, it's a new frontier for collector sand creators alike. How it works AI art generation. Artists use AI tools like Art Breeder or Deep Dream Generator to create digital art. The AI algorithms take input from the artist, such as text prompts or initial images, and generate unique and intricate designs. Backslash dot. Minting as NFTs. Once the artwork is generated, it can be minted as an NFT on blockchain platforms like Ethereum. This involves creating a digital token that represents ownership of the AI-generated artwork, ensuring its uniqueness and authenticity.

Backslash dot, smart contracts for sales. The minted AI NFT can then be listed on marketplaces like OpenSea or Rarible. Smart contracts handle the sale and transfer of ownership, automating the entire process and ensuring that the artist receives payment directly backslash dot interactive and evolving art some ainfts are designed to evolve over time interacting with their owners are changing based on certain conditions this dynamic nature adds a new dimension to digital art, making each piece a living, breathing entity on the blockchain. Backslash dot, want to jump into the AI NFT revolution? Check out this guide on creating and selling AI NFTs or you can explore IELTS AI blockchain ecosystem, featuring an NFT marketplace

called Forest. The fusion of AI and blockchain here doesn't just provide new opportunities for artists. It creates entirely new categories of digital assets that can be bought, sold, and traded. Whether you're an artist looking to experiment with AI tools or a collector hunting for the next one-of-a-kind digital masterpiece, AI NFTs offer a fresh take on the possibilities of blockchain and creativity. Who knows, you might just mint the next breakout NFT. 5. IBM Food Trust. Ensuring Food Safety with AI and Blockchain You might not immediately think of blockchain and AI when you bite into a juicy apple, but IBM Food Trust is using both to ensure that the food we eat is safe.

By combining blockchain's transparency with AI's data-crunching capabilities, IBM Food Trust tracks food products from farm to fork, detecting potential issues like contamination or spoilage in real time. How it works data collection. IBM Food Trust gathers data at every stage of the supply chain, from farm production and transportation to retail. This data is stored on the blockchain, ensuring an immutable and transparent record of the food's journey. Backslash.ai analysis. AI algorithms analyze the collected data in real time, identifying patterns that may indicate food safety issues, such as contamination risks or temperature fluctuations during transport. Backslash.smart contract execution. When an

issue is detected, such as contamination in a specific batch, smart contracts are triggered to alert all stakeholders. This automated process allows for quick responses, such as recalling affected products from store shelves. Backslash dot, traceability. Consumers can scan a product's QR code to access its entire history, from the farm where it was grown to the store where it sold. This level of transparency builds trust and ensures that food safety standards are met. This rapid identification and response system is invaluable for preventing widespread foodborne illnesses and ensuring that consumers receive safe products. Backslash. By using AI and blockchain, IBM Food Trust provides a secure and transparent supply chain

solution that enhances food safety, reduces fraud, and increases consumer confidence in the products they purchase. A new era of Web3 innovation, AI and blockchain aren't just tech buzzwords, they're working together to solve real problems and push the boundaries of what's possible. Blockchain's security, transparency, and decentralization, combined with AI's intelligence, automation, and data processing power, create a formidable duo that's reshaping industries across the board. Whether you're into the world of finance, art, or food safety, these technologies are paving the way for more secure, efficient, and innovative solutions. IELF, an AI Layer 1 blockchain platform, is contributing to the

forward momentum of decentralized AI with its powerful architecture and AI toolkit. This facilitates the creation of a new generation of DAPPs and Web3 solutions, even for non-technical users, to tackle today's real-world problems, which are also continuously evolving. Info disclaimer. The information provided on this blog does not constitute investment advice, financial advice, trading advice, or any other form of professional advice. IELF makes no guarantees or warranties about the accuracy, completeness, or timeliness of the information on this blog. You should not make any investment decisions based solely on the information provided on this blog.

You should always consult with a qualified financial or legal advisor before making any investment decisions. About IELF, IELF, an AI-enhanced Layer 1 blockchain network, leverages the robust C-sharp programming language for efficiency and scalability across its sophisticated multi-layered architecture. Founded in 2017 with its global hub in Singapore, IELF is a pioneer in the industry, leading Asia in evolving blockchain with state-of-the-art AI integration and modular Layer 2 ZK roll-up technology, ensuring an efficient, low-cost, and highly secure platform that is both developer and end-user friendly. Aligned with its progressive vision, IELF is committed to fostering innovation within its ecosystem and advancing Web3 and AI technology adoption. For more information about IELF, please refer to our white paper v2.0.

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