Can you name any instances where the Bitcoin blockchain network was hacked? Well, the obvious answer is no, since there have not been any such cases. The blockchain technology used in the development of the Bitcoin network is next to nothing currently. It has a highly secure way of keeping the information stored in it safe. Only the participants of the blockchain network are allowed to add any information to it. The information is stored cryptographically in blocks which cannot be altered after addition.
Even if a hacker has to steal the information, they need more than fifty-one percent of support from participants. This is why a lot of companies have now started to make use of blockchain technology for information storage. Logistics, banking, medical sciences, etc, are some of the fields that blockchain development is helping.
Now, what do you think will be the impact of AI integrated with blockchain development? Many opportunities have come up through these techs. Artificial intelligence is getting more and more prominent with each passing day. People can perform their tasks more efficiently with its use. A certified chatbot expert is getting more salary than people who are into normal software development. This is because of the requirements of AI that have come up now.
We are here to explore how AI and blockchain development, together are great for data privacy. It is one field that has a lot of eyes on. Web2 era was criticized for companies making use of user data without consent. Now, is it possible to provide total data control back to the users? Let us figure this out together with the help of AI and blockchain development.
Importance of AI Engineering and Blockchain Technology
According to one report, AI will be accountable for around $15 trillion by 2030. At the same time, blockchain development will hold a market of $3.5 trillion. This will be much more than any other current technology performance by that year. Researchers and developers are working day and night to find out how these two can be integrated well together. Their integration will work to not just enhance the efficiency of the work but also provide data security. Moreover, companies and users will both be at the benefitting end of this deal.
Web3 has become a trending topic globally because of the use of AI and blockchain technology together. Now, companies are aiming to let people enter the virtual world completely. Giving back control for data, finances, and a lot of other aspects to the users will also enhance user satisfaction.
More importantly, as a user, you would too like for the systems to understand what preferences you would have. You would like for it to help you with the predictions, store information securely, and also provide optimized output. The importance of AI and blockchain development in the current scenario has increased by a multitude. This is what we are going to understand further about as well.
If you wish to have enhanced data privacy and security, you would require highly smart computing power too. This is because it will need to understand what data has to be passed and what needs to be held back. Now, using blockchain technology also requires large computing power. With the integration of AI engineering in its workforce, this surge for power would be easily tackled. With the help of machine learning algorithms, the computer will store data from repetitive processes. So, every next time the users have to perform similar kinds of tasks, AI will use the stored information only.
For data security, blockchain development for the users will make sure that the stored data is kept in a secure place. Only basic information like block tags is visible to any third party. AI engineering will further enhance data security by adding layers of security features to the blockchain network.
Companies require data for approaching clients and also for marketing purposes. That is why they want the data stored with servers to be released to them. Now with the help of AI engineering and blockchain development, the basic information of users can be stored in separate minor data sets. Only this information needs to be shared with the companies for marketing purposes. The confidential data can be stored in other diversified data sets. So, it will create a proper data structure that will provide data privacy to the users. This would answer your concern about data as well.
Being a completely decentralized network, blockchain development will also let the users have direct information sharing. With no middlemen to interfere with the transaction information, the leaking of the data reduces even further. So, blockchain and AI create diversified data sets for the users to be able to keep enhanced data privacy.
Protecting the Data
Now you would be thinking, if the information is not being shared, how will the AI learn from it? That is where the role of blockchain development becomes even more important. Data feeds AI and lets it perform better for the users. Now, as blockchain technology does not let the data be visible to anyone but approved parties, the sharing of it will be limited just to the AI algorithm. At every step, there would be security measures intact, like smart contracts, for protecting the data from being misused.
AI will also have certain permissions to use the data when it can. After the work is done, even the AI algorithm will be cut off from the data stored in the network. This way, the problem of data leaks or sensitive data being misused can be properly avoided. This is why companies are now focusing on hiring more people like a chatbot expert, a blockchain expert, etc.
Now we have explored some of the ways that AI and blockchain development are going to help with data security. You can get into this topic further by enrolling in Ai certification courses or blockchain courses. Companies like the blockchain council are providing great opportunities for people to get such courses. If you wish to learn further about such topics, quench your thirst through the self-paced courses. AI engineering and blockchain development have a great future ahead; you just have to keep it in your touch.