Out of the myriad of failed ICO projects and enterprise blockchain investments, some of the more tangible applications of public blockchains have finally taken shape. Renewable energy and sustainability tech are promising areas.
This sector in particular has been overdue for a critical inspection of its inefficiencies and weaknesses. Given the urgency for a total revamping of the global energy infrastructure apparatus, its ascendancy couldn’t be timelier.
Many of the purported advantages of blockchains have fallen into obscurity following the peak of the Gartner Hype Cycle, which has left a void of opportunity for some of its more immediately impactful developments.
Gone are the days of blockchains as the panacea to the world’s woes.
Recently, both AI and blockchain have seen a complementary rise to one another, and can be utilized to provide green energy with an on-ramp to mainstream adoption of commercial solutions.
From grid stability to managing seasonal energy fluctuations, AI and blockchains have compelling potential for an industry plagued by high capital demands, energy waste, and resulting toxic byproducts.
AI & Blockchain
A cursory overview of the advantages of blockchains and AI reveals a promising horizon for the convergence of the two technologies.
Public blockchains are excellent mediums for settlement of value and verification of data provenance with minimized trust and governance. Security is a natural byproduct of their decentralized nature, imbued with a touch of cryptography.
Incidentally, this makes public blockchains ideal for censorship-resistant value transfer (i.e., bitcoin) and globally accessible, trust-minimized networks for data exchange.
Early practical applications of AI include a range of optimization strategies that rely on machine learning (ML) to smooth expensive costs and allocate resources optimally.
A compelling example is how DeepMind AI Source…