ADN Insights: 4 Technologies Adopting Blockchain Today
Today, there are many technologies that utilize blockchain’s features, including BaaS and cybersecurity. Learn about them in this ADN blog.
Over the years, blockchain technology has become associated with a number of other technologies as it complements their field of focus, goals, and purpose. Some of these are decades-old innovations, while some are just beginning to gain media attention.
Regardless, we at ADN are astounded at how blockchain has proven to go well with these technologies to usher in a more innovative future. This is mainly due to its decentralized and immutable properties. Even those that do not have enough time and manpower to create a separate blockchain development team could opt for Blockchain-as-a-Service (BaaS).
In this blog, we highlight the four most popular technologies related to blockchain. Take note of all of these as you may find them handy when aiming to hold your ICO on ADN platform.
Internet-of-Things(IoT)
Internet-of-Things (IoT) is the term used for a number of devices that are connected through the Internet. Each device within a particular system can send and receive data from each other even though they are of different natures.
One simple example is a smartphone and an Internet-enabled projector. The latter can show whatever the smartphone holder wants, so long as they have Internet connectivity and they are compatible with each other.
Today, many — if not all — of our gadgets and Internet-enabled assets can enjoy the innovation of IoT. These include smart appliances, connected cars, and smart homes. IoT synergizes well with blockchain technology because of the latter promises decentralization — an opportunity that the former cannot pass up.
Currently, IoT devices depend on centralized servers. As the system accommodates more devices, the maintenance and infrastructure costs shoot up. Furthermore, centralized servers have a single point of failure.
With blockchain technology, IoT won’t have to expend as many resources to keep the system running. Given that blockchain uses cryptography, all devices connected in the system can connect to the network and perform as intended without giving away any personal information.
One of the examples of this is Waltonchain, which effectively combines blockchain with IoT. It is an enterprise-grade public chain that enables merchants and organizations to create their own child chain. The tech giant IBM also uses IoT and blockchain technology for its Watson IoT Platform.
The popular digital asset IOTA would have championed IoT and blockchain, only that it doesn’t use blockchain technology at all. It is using another type of distributed ledger technology (DLT), which is the Tangle. This is also known as an example of a Directed Acyclic Graph (DAG).
Artificial Intelligence(AI)
Artificial Intelligence (AI) is a technological breakthrough wherein machines can act or think like humans. Sophia, a humanoid robot created by Hanson Robotics, is arguably the most popular “being” today that uses both AI and robotics.
Sofia can think like a regular human being; talk, and even initiate conversations. She can also recognize the faces of people she meets. In acknowledgment of this breakthrough, Saudi Arabia has granted Sofia her citizenship, who said in response that she was “very honored and proud of this unique distinction.”
Despite its fanfare, AI is a relatively new technology. For it to be intelligent enough, it needs to process huge chunks of tamper-proof data, as well as have a decentralized server. That’s precisely what blockchain technology can do.
When blockchain and AI are used in parallel, they could become a formidable innovation wherein one technology solves the issue of the other. AI solves the efficiency, while blockchain fortifies its security.
There are a number of companies that utilize AI and blockchain technology. One of them is SingularityNET, a full-stack AI company that uses a decentralized protocol. It has an ambitious goal of letting anyone — who has ample knowledge and commitment — to access its vast repository of AI-based algorithms, services, and agents.
Big Data
Of all the nascent technologies that are gaining attention nowadays, Big Data is the one that has the most unappealing name. But every techno-geek knows of its impact on our society today.
Big Data is a technological field that deals with colossal volumes of both structured and unstructured data that are too big to be processed using traditional software and database means. It usually comes in multiple formats and from various sources.
Often stored in computer databases, Big Data is analyzed through software specifically created for massive and complex data sets. If you have encountered a company that offers Software-as-a-Service (SaaS), then you know one that deals with Big Data.
This technology is important because nowadays, companies deal with hundreds and thousands of user information that needs to be processed almost instantly. It takes on the challenge posed by radio-frequency identification (RFID) tags, sensors, and smart meters.
With the increase in the use of IoT and AI, Big Data is one of the solutions that experts have come up with for them to deal with the advances in both the volume and the quality of data being required for processes. Blockchain can help out Big Data in this sense.
Blockchain technology pairs well with Big Data because of the immutability of all data stored in the digital ledgers. Any potential cybercriminal will have a hard — if not impossible — time to hijack the network and steal the information.
Big Data and blockchain technology, when used together, can safeguard the integrity of data and enable its availability to users whenever they need it. The latter also complements data analysis technologies. Double-spending can be prevented, as well as risky transactions.
One example is the health industry, which can benefit greatly from this collaboration. Medical practitioners can access their patient’s medical history without having to skim through paper archives. They only need to access the network and get the file they need.
Patients won’t have to be confined to a single hospital every time they fall ill. This way, they can go to any place they want, and should an emergency occur, any medical practitioner can respond and give them the appropriate attention they need.
Finally, Big Data and blockchain technology can allow medical institutions to share information so that they may find better ways to cure diseases.
This collaboration can also be implemented for other sectors, including fintech, cloud storage, and supply chains. One company is Storj, a peer-to-peer file storage network. It uses advanced encryption and sharding to ensure data security and privacy.
Augmented Reality(AR)/Virtual Reality(VR)
Virtual Reality (VR) is a type of technology wherein a person interacts with a digital environment, complete with 3D objects and ambiance. The person can interact with the said environment through a special device or medium.
VR is popularly used for gaming platforms, such as the Oculus Rift and Sony PlayStation VR.
On the other hand, Augmented Reality (AR) is a type of digital environment wherein certain virtual elements are infused into the physical world. If you have played the sensational game Pokemon Go, then you have experienced AR first-hand.
These technologies, however breath-taking they are, still struggle in terms of mass acceptance, along with other obstacles. But with the help of blockchain technology, these gaps are being bridged.
First, blockchain provides a decentralized network of users who can lend others their spare processing power. VR and AR require massive amounts of computation and graphics allocation for them to function seamlessly. Blockchain allows these technologies to scale.
Second, blockchain enables easier and better monetization. As any particular blockchain can be accessed from virtually anywhere in the world, users also need a channel that allows them to pay for products and services from around the world as well. With blockchain, this is possible.
Third, users are assured of full and incontestable possession of their virtual assets. Any information placed on the blockchain is immutable, and as long as the network exists, it doesn’t matter how professional the cybercriminal is — the network will stand, and any fraudulent data will not triumph over the blockchain.
One example is Decentraland, a community-owned virtual world wherein users can build and explore 3D creations, play games, and interact with other users. It runs on the popular blockchain ecosystem Ethereum.
Another example is Infiniverse, an AR-based digital world that runs on EOS. It works like Decentraland, only that with Infiniverse, users can let their imagination run wild while still playing within the confines of their current surroundings.
The world has yet to discover the full potential of blockchain technology. Even now, some of the world’s biggest industry players have created their own blockchain teams to explore the technology’s use cases for their own product or service.
ADN: Blockchain for a Safer Digital Space
Aside from the ones we have mentioned above, other industries are using blockchain technology for other purposes. Given its accessibility, they can create their own enterprise-grade blockchains, join permissioned networks, or just avail of ready-made blockchains through BaaS.
Others would also take advantage of blockchain’s privacy and security features to complement their services. One such blockchain-based company that focuses on the technology’s security features is ADN.
At ADN, we are tinkering with blockchain to provide you with the best ICO security platform. We are pushing investor security to the forefront, as well as top-quality blockchain projects, to create a safer space in the industry for worthwhile projects to thrive.
Interested blockchain developers and entrepreneurs who are planning to infuse blockchain with other complementary technologies may be allowed to conduct their ICO on our platform so that we may assist them with their endeavors.
Excited to spearhead your own blockchain project? Why don’t you click on the “👏” button on the left side of the screen if so? Put those hands together as many times as you like.
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