How the Blockchain, AI and IoT could integrate perfectly
Yep, there’s a lot of buzzwords in that title but hear me out…
These three technology concepts will change the world. That’s a fact. But right now, arguable none of them are fulfilling their promise, perhaps with the exception of artificial intelligence, whose growth curve can be forgiven for developing at a slightly slower pace due to the available resource and advanced nature of the technological components.
However, with the rise of cryptocurrencies and the full integration of smart speakers into the everyday home, Blockchain and IoT are the victim of deserved scepticism. Ironically, cryptocurrencies have been the best and worst thing to happen to the Blockchain (if you’re unsure of the difference drop a note in the comments and I’ll write an article on the core differences). Cryptocurrencies have allowed Blockchain technologies to garner mainstream attention but on the downside, the Blockchain has been gilded with the heavy scepticism that many associate with currencies like Bitcoin, Ethereum and Litecoin. Basically, people don’t trust cryptocurrencies and many outside the tech community are unable to create clear separation between the two. The Blockchain is what carries the real value here and it must be preserved.
IoT, or internet of things are essentially consumer electronics that use internet based intel to perform a task or skill. Alexa and Google Assistant have capitalised upon the resource for IoT development but currently many IoT services fall short of anything more than gimmick based commands. Similarly, artificial intelligence is often thrown at superficial applications like chatbots or social media algorithms, but the potential spans much further.
Perhaps the answer to redeeming some of the obvious potential of these technology concepts, is to begin to understand how they could directly integrate as we enter a technological landscape that is shifting drastically year on year. This shift will not be happening behind closed doors, we’re talking fundamental changes to every day life, as Blockchain, AI and IoT begin to work together.
Picture this, via machine learning and the inception of artificial intelligence your washing machine could start spinning via a voice command, stop by a voice command. It could send out a notification to your smartphone telling you there is 10 mins remaining and prompting you to “tumble dry?”. Genuine artificial intelligence could learn which fabrics require certain wash types or reduce water temperature to decrease energy bills, after communicating with your smart meter. More interestingly, the washing machine could develop the ability to reorder itself new parts, call a plumber and your smart doorbell could let him in via your confirmation from an integrated device. Your washing machine could even reorder fabric softener and capsules, via a smart payment contract with Amazon via the Blockchain. The Blockchain would allow and enable intelligent machines to establish secure contracts with retailers, without the need for a mediating body like a bank slowing it down.
As we being to conceptualise the ways in which these three exciting technologies could combine, it’s clear they need each other to justify their life changing promise.
The future is exciting and it’s automated.
