The European Blockchain Association (EBA) and the International Association for Trusted Blockchain Applications (INATBA) have found that blockchain technology has advanced beyond its initial cryptocurrency-related applications. According to a report issued on July 8, blockchain can now enhance transparency and security across multiple industries, especially when used in conjunction with artificial intelligence (AI).
According to the report, algorithms created from AI have made it possible to detect any deviations from “normal” profiles and initiate investigations to detect fraud. These algorithms “analyze user behavior, transaction patterns and historical data” to establish these normal profiles. The report says, “AI can perform clustering and link analysis on blockchain addresses to group together related addresses that may be associated with the same entity, further helping track suspicious activity across multiple addresses.”
The report states that AI and blockchain have the potential to help sectors and industries through their sustainability and authenticity. “Their combined capabilities can revolutionize industries by ensuring secure, transparent, and efficient operations,” the report said. The relationship between AI and blockchain can elevate existing solutions through their sustainability by taking into account environmental, social, and governance factors, “consistently measured by blockchain.”
The integration of AI and blockchain into educational programs at all levels is becoming increasingly essential in today’s rapidly evolving digital landscape, according to the report. For learners to acquire the skills and knowledge necessary to succeed in AI and blockchain, educational courses are “essential.” The report says that “In educational settings, interdisciplinary courses that combine AI and blockchain curricula can provide students with a comprehensive understanding of both technologies’ technical aspects, applications, and societal impacts.”
According to their website, the EBA “combines, synchronizes and leverages blockchain-related activities of European corporations, startups, venture capitalists, and scientific institutes. [They] serve as a superior, neutral body to aggregate and coordinate blockchain activities throughout Europe and to provide Non-European parties access into the European blockchain ecosystem.”
The INATBA is an association that “offers public and private developers and users of Distributed Ledger Technology (DLT) a global forum to interact with regulators and policymakers and bring blockchain technology to the next stage,” according to their website.
