2 Cryptocurrencies Working On Artificial Intelligence Applications

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Artificial intelligence and machine learning are predicted to be among the fastest-growing market over the next several years. Powered by advanced analytics and the streamlining of information, AI technology is poised to be a major disruptor to almost every industry.

According to Grand View Research, the global artificial intelligence market is estimated to see a strong compound annual growth rate (CAGR) of 46.2% between 2019 and 2025. The market research firm estimates the global AI market to be worth a total of $390.9 billion by 2025. Grand View Research cites AI’s wide application capabilities as a key driver of growth.

With AI poised to impact everything from asset transactions to healthcare and estimating natural disasters, here are two cryptocurrencies that are working on developing AI-based solutions:

Fetch.ai (FET)

Based out of the United Kingdom, Fetch.ai seeks to improve efficiencies by integrating blockchain, data sharing, and AI technologies. By enhancing and further optimizing solutions to help solve common, everyday problems. Backed by respected advisors, including individuals from the University of Oxford, the University of Cambridge, and more.

Fetch.ai’s Open Economic Framework (OEF) was created to serve as a decentralized search and value exchange platform for a wide range of industries. Unlike other blockchain projects, Fetch.ai created its own blockchain from the ground up and utilizes smart ledger technology that can “reportedly support more than 30,000 transactions per second,” according to the company’s information on CoinMarketCap. These capabilities show that Fetch.ai is looking to build a network that can support and continue to operate under mass adoption scenarios.

Some potential use cases for Fetch.ai, include:

• Smart parking and traffic congestion management
• Decentralized financial exchange
• Electric vehicle infrastructure & e-mobility
• Energy consumption
• Transportation
• Healthcare
• Supply chain

While Fetch.ai’s potential application is widespread, the heart and soul of the project boils down to digital intelligence. This means being able to deliver actionable analytics & predictions, streamline processes, and improve efficiency & productivity.

DxChain (DX)

DxChain seeks to combine big data and machine learning in order to store, trade, and compute big data within a decentralized application. Using the DxChain platform as a “data market,” organizations can essentially transfer data back and forth, and have the ability to create custom applications for a variety of uses like business operations and intelligence. Through the combination of blockchain, data storage, and AI computing, DxChain aims to “change the fundamental meaning of the internet.”

Three potential use-cases cited by DxChain are smart cities, healthcare, and AI application development.
Smart cities rely on massive amounts of data and machine learning capabilities. Through the wide use of sensors and information-capturing technology, DxChain can help organizations develop their own app solutions to monitor and manage operations using machine learning.

DxChain sees a use case across healthcare by helping the transfer and storing of healthcare records and information. A patient’s information or records can be encrypted and stored on the blockchain, which can then be utilized by healthcare professionals to create a proper treatment plan.

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The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.