The European Union (EU) researchers have identified a promising potential in the convergence of blockchain technology and artificial intelligence (AI), according to a recent report by the EU’s Blockchain Observatory and Forum (EUBOF). The EUBOF, which monitors distributed ledger developments across Europe, examined the regulatory status of crypto assets in the EU member states, the United Kingdom (UK), and Switzerland. In addition, the researchers explored the future trends in the digital asset space, highlighting the synergistic capabilities of AI and blockchain.

The researchers explained that blockchain can offer a secure and transparent framework for AI data, ensuring data integrity and privacy, particularly in sectors like healthcare and finance where data security is critical. They further elaborated on how blockchain can enable decentralized AI networks, where AI models and data are distributed across a blockchain network. This approach can mitigate the risk of data monopolies and foster collaborative AI development. Moreover, AI can enhance the functionality of smart contracts by enabling more complex and adaptive contract conditions, leading to increased efficiency and automation across various industries.

The EUBOF researchers also made predictions about the future of the blockchain industry. They expect decentralized finance (DeFi) to continue expanding, more blockchain networks to implement interoperable capabilities, and a continued push for environmentally sustainable blockchain solutions.

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