Reference no: EM132230589

Question: Provide a 100 word discussion reply to the following post below.

There are many new trends when referring to web technologies. One big trend that is being used in huge companies like IBM and Amazon is blockchain technology. "Blockchain technology enables distributed public ledgers that hold immutable data in a secure and encrypted way and ensure that transactions can never be altered." ("Blockchain") The financial sector has experienced tremendous positive impacts from blockchain technology. Although, the technology is finding other uses besides just cryptocurrencies. Uses like data storage, asset management, an array of transactions, and even real estate are just some areas being explored. Using blockchain is understandable as it will give you increased security, fraud reduction, less risk, and more. "Currently, researchers are delving into deeper realms, attempting to incorporate blockchain into more sophisticated areas of technology such as big data, IoT, and most especially; Artificial Intelligence." (Budko, 2018) When AI and Blockchain are merged together, many more businesses can profit from this new technology.

The businesses will get accurate data, high security, and be able to execute while AI can assist in other ways needed like making decisions. AI has had an issue with availability of data from numerous sources. This issue is something blockchain can most definitely assist with. Blockchain would fix the issue of accessible data by developing the notion of peer-to-peer connection. "Since it is an open distributed registry, the data becomes accessible to everyone on the network." (Budko, 2018) If there is concern of any crisis, disaster, or hacking the data will not be stored in one specific location, so all of the data would be preserved in these scenarios. I think the blockchain technology is highly important as technology advances. It is even more impressive when paired with AI. Privacy and security are so important for not only businesses but individuals as well. This technology is ideal to address these concerns. "The future of technology is inevitably a decentralized system of operation, whereby machines interact better and the understanding of human activities is better modeled." (Budko, 2018)

Resources: Blockchain. (n.d.). Retrieved February 5, 2019.

Budko, D. (2018, February 12). How Blockchain Can Transform Artificial Intelligence.