Exploring the Synergy between AI and Blockchain Technologies, and Potential Applications

This Omdena Local Chapter Challenge runs for 4 weeks and is a unique experience to try and grow your skills in a collaborative and safe environment with a diverse mix of people from all over the world. 

You will work on solving a local problem, initiated by Barcelona, Spain Blockchain Chapter.

The problem

AI is becoming more and more powerful as anyone who’s been paying attention to LLM’s and Stable Diffusion knows. However, AI is heavily dependent on data, not only the amount of data but the quality of data. We know that AI models’ outcomes can be altered in various ways by simply manipulating the data, maliciously or unintentionally, resulting in a general lack of trust in anything AI.  

Also, so far, only big tech has access to enough processing power and data to train Large Language Models.  Blockchain technologies provide secure decentralized immutable data platforms that can level the playing field by letting users share their private data (that not even big tech has access to), and be compensated for it.  Projects to decentralize GPU processing power already exist.  

Blockchain can greatly benefit from AI technologies. For instance, one of the big problems currently is the reliability of the ‘decentralized applications’ (also called ‘web3’ or ‘smart contracts’), which are nonetheless used to implement, say, financial transactions, trades, and even how virtual organizations work (Decentralized Anonymous Organizations – DAO, based on automated decisions)  LLM’s have become smart enough to not only write code, even in less common languages such as Solidity (used for Ethereum smart contracts), or test code. 

Being able to generate test code to increase the reliability of smart contracts will impact all possible applications of smart contracts, ie basically all horizontal and vertical markets apps, from financial transactions, to reliably tracking supply chains. But can we trust LLM’s totally? Are there methods to do that? 

Synergies truly go both ways. Another example: IPFS is a decentralized storage system that is now capable of everything that cloud-based centralized solutions such as AWS offer: high data throughput, S3 interfaces, real-time content delivery, 100% secure, immutable, and a lot cheaper. 

The goals

This project is an exploratory project, i.e. we will examine all aspects of AI and blockchain strengths and weaknesses, and determine a list of future ‘fusion’ projects worth working on.  

In particular, we will be looking at:

• How AI technologies can enefit the blockchain world (not only financial applications but also vertical and horizontal markets).
• How blockchain technologies can benefit AI applications.
• Identifying a list of projects to work on in the future that can enhance current and future businesses.
• Studying existing ‘futuristic’ synergies between AI and blockchain to determine if we can already benefit from or contribute to them.

Why join? The uniqueness of Omdena Local Chapter Challenges

Omdena Local Chapter Challenges are not a competition or hackathon but a real-world project that will grow your experience to a new level.

A unique learning experience with the potential to make an impact through the outcome of the project. You will go through an entire data science project lifecycle. This covers problem scoping, data collection, and preparation, as well as modeling for deployment.

And the best part is that you will join the global and collaborative community of Omdena with tons of benefits to accelerate your career.

Read more on how Omdena´s Local Chapters work