Yes, Blockchain and Artificial Intelligence are not the Same
Yes, contrary to many people’s beliefs, blockchain and artificial intelligence are not related in any way. If your curiosity has ever made you go search for the formal definitions of both these concepts on Google, then you might have come across the following:
Blockchain is a system in which a record of transactions made in bitcoin or another cryptocurrency is maintained across several computers that are linked in a peer-to-peer network.
Artificial intelligence is the theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.
LiveMint’s Kailash Nadh has noted that both of these technologies are not related to each other and can not be clubbed together.
What’s also interesting is the way ICOs or the initial coin offerings have been correlating these two advancements. If you happen to go through any one of the whitepapers for ICOs presented in the year of 2017 or even 2018, then you would discover how the project inexplicably combines AI with the technology of blockchain. Why does it do so? To provide solutions for the businesses as well as for all the problems the world is witnessing and/or about to witness. To make things more fascinating, images of robots are included to serve as a whole meal.
Despite the difference, unfortunately, the market has been unable to drop this tendency of grouping blockchain with AI and robots. As suggested by Kailash, the artificial intelligence is something that deals with a huge variety of techniques, concepts, as well as technologies, all of which are focused on making the behaviour of computers much more intelligent.
On the other hand, the concept of blockchain technology has been widely understood as a term that includes anything in relation to the digital currencies or the DLTs and which is more appealing than BTC to the systems of legacy finance. Those who come in late, BTC or Bitcoin is the decentralized open-source cryptocurrency that works without requiring any intermediaries. Moreover, bitcoins have a finite supply.
So whether the technologies of blockchain and AI would ever get merged in the future, turning the current misleading information into a surprising reality, remains a question.