European Blockchain Observatory and Forum Highlights Blockchain and AI Integration

According to Odaily, the European Blockchain Observatory and Forum (EUBOF), an initiative launched by the European Commission, has released a report on May 24, highlighting the potential of blockchain technology when combined with other technologies to drive innovation. The report, written by the Directorate-General for Communications Networks, Content and Technology, identified a strong trend related to the continuous integration of blockchain and artificial intelligence (AI). Sensitive AI datasets can be securely stored on the blockchain, which, according to EUBOF, is particularly useful in the healthcare and financial sectors where data security is paramount. Furthermore, the integration of these two technologies can lead to the creation of decentralized AI networks. The report added, 'This can reduce the risk of data monopolies and promote the collaborative development of AI.' EUBOF also stated that AI can enhance the functionality of smart contracts, which can be applied across various industries. The study acknowledged the continuous growth of the DeFi ecosystem and predicted the launch of new protocols and emerging applications. EUBOF anticipates that the inherent interoperability, sustainability, and energy efficiency of blockchain technology will be the main drivers for its continued adoption.