There are more narratives about crypto, DeFi, and artificial intelligence than you can shake a stick at. Now, some big names are backing projects that combine all of these.
Why? Short-term profits? Is something sinister in the works?
Nah. Smart people realize that when you combine ideas into one and make them work, you get something amazing. You get something for everyone. And that brings users. More users means more adoption.
The convergence of AI with blockchain has the potential to redefine the way transactions happen. On the other side, the concept of Real-World Assets (RWAs) on the blockchain stands as a harbinger of change, intertwining the physical and digital realms to create new paradigms in finance, supply chain management, and beyond.
Ethan Kim, CEO of Neopin, who is working to build a DeFi protocol that uses RWAs and AI together to create a wide variety of products and its upcoming RWA platform, is an expert on bringing AI tools to blockchain technology.
Unlocking the Fusion of AI and Blockchain
AI’s dynamic predictive, analysis, and learning capabilities combine synergistically with blockchain’s immutable and transparent nature. It enhances agility, efficiency, and security in various applications.
“AI integration is a game changer. It streamlines DeFi with decision-making algorithms and user interfaces that cater to non-technical users,” said Kim.
Industries that traditionally require high levels of trust and verification, such as finance or healthcare, are already reaping the benefits of AI-enhanced blockchain solutions.
Digital identities and smart contracts are just a few areas where the potential synergies of AI and blockchain are being manifested, paving the way for a new wave of innovation and economic growth.
For instance, financial institutions can use AI and blockchain to create more robust risk assessment models and to automate compliance processes. In healthcare, the integration of AI and blockchain promises to streamline patient privacy regulations, improve data sharing for research and treatments, and combat counterfeit pharmaceuticals with end-to-end tracking.
