Home » Analyzing Blockchain Technology, AI, and IoT and A Review of the Leading Blockchain Projects Fostering Open Science

Analyzing Blockchain Technology, AI, and IoT and A Review of the Leading Blockchain Projects Fostering Open Science

by Gilbert Frazier

The Internet of Things, Blockchain, and Artificial Intelligence have become revolutionary technologies, positively changing how we view a broad spectrum of applications.

Three upcoming technologies are and have driven the next wave of digital transformation. Blockchain, the Internet of Things (IoT), and Artificial Intelligence (AI), if utilized in unison will converge and allow for newer and better business models: Autonomous agents send and receive money seamlessly and autonomously act as independent economic agents.

The three have shown extraordinary opportunities in varying sectors as they enhance an organization’s progress and streamline their processes. Thanks to Blockchain, IoT, and AI, industries can develop innovative products and new services for industry customers, stepping away from the stagnating processes of the dominating corporations.

Let’s look at these three technologies and their contributions to today’s digital transformation.

Blockchain, Artificial Intelligence, and The Internet of Things in Brief

These three technologies have made a name for themselves, individually or in unison, with their unmatched potential to refurbish current business processes, develop new business models, and disrupt mega industries.

Blockchain

Finance, education, science, licensing, and production, to mention a few sectors, are gaining a growing interest in blockchain technologies because of this tech’s unique characteristics. Blockchain fosters open science by bringing trust, collaboration, organization, identification, credibility, and transparency to the science space. Open science calls for making scientific research more transparent and accessible to mitigate problems. Take the entertainment sector, for example, where the video content industry still needs to grow in searching and discoverability of content. With blockchain tech, however, what was not transparent and accessible becomes more streamlined in a few clicks.

Artificial Intelligence

With novel computational power and large open datasets, AI paints an optimistic picture of open science as its underlying discovery, ranking, and distribution technologies offer strong incentives for corporations, scientists, and research managers to make data, software, and research findings freely available and accessible. AI presents a powerful paradigm for positively altering the video content scene through machines that mimic human thoughts and behaviors, including learning, reasoning, predicting, and more.

Internet of Things

IoT fosters open science through the extraction of unique insights about how to optimize business operations, remote monitoring of business processes, and facilitating the pervasive collection of information about the physical world. IoT is, therefore, a source of open and disruptive innovations, such as the software in cameras and microphones that make it possible to have a voice and gesture-enabled remote-control applications. IoT also aids in analyzing data from multiple sources so that sectors like Video Content can focus more on unique content management processes and predictive discoverability options.

How these three Overhaul the Tech Scene

Blockchain, AI, and IoT work in unison such that one solves the issues found by the other. Given that the world is at the threshold of a technological revolution, we should encourage this convergence of the three technologies to refurbish the scale, sophistication, and transformation of the processes we are used to.

Since most IoT devices are connected via public networks, vulnerable to hacks, Blockchain helps blur these security fault lines. Since AI collects huge amounts of data for better machine learning and improved outputs, Blockchain prevents data hacking and tampering through the way blocks are stored and guarded in an immutable database. To IoT and AI, Blockchain presents a secure, scalable, and verifiable platform that has invincible security implementations.

Notable Projects Spearheading the Tech World’s Entry into Open Science

Blockchain projects with a focus on Open Science not only improve the processes we are used to but also enhance the user experience when visiting their decentralized applications of platforms for products and services. Briefly explained are a few blockchain projects taking Open Science to uncharted waters.

AIWORK

AIWORK merges AI with Blockchain technology by providing an Open Network for AI-powered by blockchain in the video content realm. Their blockchain concept facilitates a crowdsourced AI Human Experts marketplace to help create, verify and validate AI data sets that make AI smarter for better video content searching and discoverability.

The project helps foster Open Science as their AI computer vision algorithms running on nodes using CPU/GPU resources will be used to scan media files and generate enhanced metadata, including time-coded tags, classification, categories, transcripts and translations, and an index of the video objects. Having a community of human experts working behind the scenes means that these algorithms will continually learn since the said community will moderate, review, verify the meta-tags, categorize, transcribe and translate content. This improves the user experience because, with the convergence of Blockchain and AI, you can search for a video based on a specific scene or character name, physical features, or objects.

OriginStamp

OriginStamp focuses on offering transparent evidence to users through the verification of various stamps. Their novel technology offers Proof-of-Existence certificates in the form of timestamps. This means that one can obtain evidence for possessing specific information at a certain time, such as documents, research findings, ideas, and other digital assets.

Matryx

Think of Matryx as the perfect combination of science with better incentivization. Matryx leverages a unique approach and incentivizes collaboration in science to promote the creation of innovative projects and ideas. To foster Open Science, their platform lets users post bounties for innovators to respond, and the winners are chosen based on the leading designs and request improvements. Suppose you want to improve the entertainment sector as AIWORK does. In that case, you can post a bounty on Matryx asking for the failures of the predecessors (e.g., YouTube), and innovators can respond with their reviews and improvement pointers.

Conclusion

The Internet of Things, Blockchain, and Artificial Intelligence are three disruptive technologies emerging from the ongoing tech revolution that is introducing radical shifts in multiple industries. The amalgamation of the three holds the monumental potential to create new business models enabled through digitalization, as seen with how AIWORK is transforming the video content scene.

AI, Blockchain, and IoT are global and legitimate technologies that will help shape the future of various industries by themselves, with a combination of two or a combination of all three.

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