The European Union (EU) is advancing in the integration of blockchain and artificial intelligence (AI), as reported by the Directorate-General for Communications Networks, Content, and Technology.
A recent report from the EU Blockchain Observatory and Forum (EUBOF) revealed the secure storage of sensitive AI data on a blockchain, with particular applications in healthcare and finance. Blockchain’s tamper-proof nature ensures data integrity and privacy, which is essential for managing sensitive information and complying with data protection regulations.
The report emphasizes that using blockchain for AI data storage enhances trust and ensures compliance with data protection laws. This capability is particularly relevant for the healthcare and finance sectors, where data integrity and privacy are critical.
Blockchain and AI are fostering the creation of decentralized AI networks. These networks distribute AI models and data across a decentralized ledger system, reducing the risk of data monopolies. The EUBOF report indicates that decentralized AI networks provide a secure and transparent framework for AI development, benefiting various industry applications.
Also, the integration of AI with blockchain can streamline operations, reduce costs, and minimize human error in executing contracts. The report also notes the continuous growth of the decentralized finance (DeFi) ecosystem. The EUBOF anticipates new DeFi protocols and emerging applications driven by interoperability, sustainability, and energy efficiency.
The EUBOF report also includes several recommendations to enhance Europe’s engagement with new technologies. It advocates for the EU to act as a global knowledge hub and to strengthen collaborations with various stakeholders, including academia and policymakers. Pierre Marro, Senior Policy Officer at the Directorate-General for Communications Networks, Content, and Technology, stated that the Observatory’s work, including its thematic papers and workshops, will remain an essential resource for stakeholders exploring future advancements in blockchain technology.
Overall, the report suggests continuous investment in research, development, and policy-making to support innovation and sustainability in blockchain and AI technologies. Europe aims to leverage these technologies to enhance various industries by building a secure and collaborative by building a secure and collaborative
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