Blockchain and Avanced Analytics: A powerful combination

Combining Advanced Analytics with Blockchain (i.e. distributed ledger technology) would bring together two technologies that would complement one another!

Artificial Intelligence would help lead to robust and intelligent platforms that would also respect ownership of user’s data, without compromising security and trust thanks to the underlying blockchain technology.

Some might think this is an utopianist visionary statement from an advanced analytics enthusiast - or is it?

Ongoing progress in technologies are bringing potential solutions for dealing with verifying integrity and source of digital credentials and its associated governance, all of which are key for a wider adoption of blockchain technologies and to most benefits citizens and customers which we all represent to some extent.

Moreover, distributed ledger technology advances carefully consider other key aspects such as Identifiers, key management, off-ledger storage, how to import data and smart contracts, to name but a few.

The latter (smart contracts) bring distributed ledger technology to a higher level by adding functionality to it:
Smart contracts are small scripts that execute programming logic on blockchain nodes, triggered by events.

This is where Advanced Analytics and Artificial Intelligence (I.e.AI) could step in.

“Smart contracts” would be leveraging on AI technologies rather than on business rules logic (which could be restrictive over time and tend not to generalise well).

Ultimately, Artificial Intelligence (AI) could help shape robust and intelligent platforms that would also respect ownership of user’s data, without compromising security and trust thanks to the underlying blockchain technology.