Blockchain Technology for Convergence: An Overview, Applications, and Challenges

Abstract

Blockchain technologies are drawing attention after the success of cryptocurrency. Due to the inherent features, such as decentralization, transparency, security, immutability, and integrity, they have already become the prime choice of researchers and scientists. Blockchain is among the most disruptive innovations which have the potential to reshape the behavior of many businesses and industries. Blockchain applications are based on DLT in which public ledger can be accessed by everyone by eliminating the need of third party. Although the power of AI allows the intelligence and decision-making powers of machines in the same way as humans, it relies on a unified model for training and validating datasets. However, the unified nature of AI poses many threats to data privacy and data tempering. Thus, the unique features of blockchain technology makes its application attractive in almost every field including financial services, healthcare, IoT, and many more. This chapter presents a comprehensive overview on blockchain and its integration with AI to explore numerous capabilities.