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

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 BNB Chain.

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.

• Real-time monitoring: Once a contract is deployed, CertiK’s AI systems continue to monitor its activity in real time. By analysing on-chain data and transaction patterns, the system can detect any suspicious activities or anomalies, providing an additional layer of security.

• Automated reporting: CertiK’s 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 scrutinised thoroughly.

CertiK's 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 + DeFi = Smarter Investments

Decentralised finance (DeFi) has exploded in popularity, but what if we could make it even smarter? Numerai, a hedge fund powered by AI, is doing just that by redefining how investment decisions are made.

Instead of relying solely on human analysts, intuition, or luck, Numerai utilises AI models contributed by data scientists worldwide to analyse data, predict market movements, and make investment decisions.

How It Works:

• Data collection: Numerai 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.

• AI model development: Data scientists use Numerai's 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 Numerai’s investment strategy.

• Smart contract execution: Numerai uses blockchain smart contracts to automate the execution of trades based on AI-driven predictions. This decentralised approach ensures transparency and reduces the risk of human error.

• Rewards system: Data scientists are incentivised with crypto tokens for their contributions. If their models are accurate and enhance the meta-model's performance, they earn rewards in Numerai's 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 Decentralised 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 decentralised AI marketplace.

The platform allows developers to create and monetise 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.

• 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.

• 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.

• Revenue sharing: Developers earn AGI tokens for each use of their AI services. This creates an open marketplace where AI developers are incentivised to provide high-quality, innovative solutions.

• The result is a decentralised 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 collectors and creators alike.

How It Works:

• AI art generation: Artists use AI tools like Artbreeder or DeepDream 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.

• 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.

• 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.

• Interactive and evolving art: Some AI NFTs are designed to evolve over time, interacting with their owners or 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.

Want to jump into the AI NFT revolution? Check out this guide on creating and selling AI NFTs or you can explore aelf's 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.

• AI-nalysis: AI algorithms analyse the collected data in real time, identifying patterns that may indicate food safety issues, such as contamination risks or temperature fluctuations during transport.

• 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.

• 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’s 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.

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 decentralisation, 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.

aelf, an AI layer 1 blockchain platform, is contributing to the forward momentum of decentralised 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.

About aelf

aelf, an AI-enhanced Layer 1 blockchain network, leverages the robust C# programming language for efficiency and scalability across its sophisticated multi-layered architecture. Founded in 2017 with its global hub in Singapore, aelf is a pioneer in the industry, leading Asia in evolving blockchain with state-of-the-art AI integration and modular Layer 2 ZK Rollup technology, ensuring an efficient, low-cost, and highly secure platform that is both developer and end-user friendly. Aligned with its progressive vision, aelf is committed to fostering innovation within its ecosystem and advancing Web3 and AI technology adoption.

For more information about aelf, please refer to our Whitepaper V2.0.

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