How Artificial Intelligence and Blockchain Will Change the World

 

Humanity has the ability and opportunity to be both innovative and destructive, bringing forth amazing advancements while simultaneously creating and perpetuating nightmare situations.

Blockchain and artificial intelligence share this oppositional nature. The technology holds in it both the devastating potential to destroy the world and the amazing opportunity to save it.

Where this is most evident is in its relationship to the environment. By now much has been said about the potential impact of bitcoin mining is having, increasing our carbon footprint through its creation process. For those with a limited knowledge of blockchain and bitcoin this could lead to the impression that the technology is damaging and should be avoided.

AI comes with a stigma (born from science fiction novels) that keeps an important question in the forefront: Will the machines take over and what will happen to us if they do? Can it ever really be trusted?

This is not the full story, however.

Both blockchain and AI have the real potential to be a valuable asset in the fight against climate change. Innovators across the globe are exploring this avenue and are set to bring forth solutions that will change and save our world.

Join me this week as I explore what’s being done.

We need a solution for climate change as soon as possible, as every day we get closer to the point of no return in terms of planetary damage. Because of this, AI (along with big data) will prove to be one of the most important tools we have at our disposal.

Although some parties may argue that industry and technology are the main contributors to our increasing pollution issues, the simple fact remains that technology is an amazing tool we can use to plot out a better way forward.

This is where AI has a very important role. All over the world people are harnessing the technology to improve conservation and fight climate change. And even the big players see the importance of this movement. Microsoft has stepped up to fund these groups through its AI for Earth program, offering grants to help people introduce AI into their conservation efforts.

Green innovators around the world are using the grants and technology to look at issues like integrated environmental monitoring (University of Waterloo), climatology-based landslide identification (Deltares) and water access (WetDATA).

So much good can be done if we use our creativity and new technology to remake how we live.

If you want proof of how these technologies could help the environment, all you have to do is look at its connection to the clean energy economy.

As we become more aware of the damaging effects of our old power sources (not to mention the depletion of these resources) and seek alternative forms of energy blockchain is set to become a major player.

Tomorrow’s power leaders—including the UN, which has launched the Climate Change Coalition— are working on harnessing technology to move us to a smarter and more efficient system. Blockchain is instrumental in this new system. Smart startups know this and are setting themselves up to be viable options in the new world.

Take LO3 Energy (https://exergy.energy/) for example. Stating that it is moving us from energy to exergy, the startup is tapping into the sharing economy model to change how we see and use our collective power stockpile.

Using the world’s first blockchain microgrid and a peer-to-peer sharing model that emulates some of the biggest business success stories of recent years (Uber, AirBnB) LO3 uses smart contracts to help users control their energy usage (both how much and what type of energy they are using).

Making it easier for people to control their power usage is a great way to help transition us over to new power sources. This is an amazing way to use blockchain technology. And other companies are exploring this avenue, which means more people will soon be able to tap into a more efficient system.

Of course, one of the most vital areas to look at is sustainability. This is an incredibly important issue, imperative to our survival on this planet, and any technology that can help in this regard is definitely worth pursuing.

Both AI and blockchain are currently being explored for the positive impact it could have on sustainable enterprises and sustainable development global goals (SDGs).

One of the key ways blockchain is being used is its ability to optimize sustainable development impact.

The World Food Program (WFP), for example, started using a blockchain system to transfer needed funds, reducing bureaucracy and therefore increasing the amount of aid that gets to vulnerable groups (refugees, etc.). As this blockchain system uses biometrics it is also more secure and accessible to the unbanked.

AI, meanwhile, will prove to be an invaluable tool for amassing and analyzing all the data needed to create tomorrow’s improved society and world. Such an important task can’t be put off and we now have the technology to better amass the information we need.

It may be ingrained in us to fear the unknown, which is why we are wary of new innovations, but we can’t let this fear keep us from the amazing advantages technological advancements can bring us.

Properly harnessed, FinTech and its innovations can be used to better our world both today and in the future. AI and blockchain are leading the way, helping to launch sustainable projects that will make the world a better place.

We can’t let this opportunity get away. Let’s work together to make sure our greatest innovations are being used to create our greatest world.