Cryptocurrencies have enabled users across the globe to carry out commercial operations in a personal capacity as well as in an institutional capacity. This has reduced dependencies across the value chain, and, in some cases, has disintermediated the role of the stakeholders. Cryptocurrencies such as Bitcoin, Ethereum, and Ripple (under some constraints) have enabled a large number of people to disintermediate or explore new white spaces in the economy, including concepts such as Non-Fungible Tokens (NFTs), an Initial Coin Offering (ICO), and a Decentralized Autonomous Organization (DAO).
AI, on the other hand, has been utilized in the Banking, Financial Services, and Insurance (BFSI) industry to reduce operational risks across borders, thereby leading to effective profit-making among institutions. The convergence of both technologies can be mutually beneficial to AI and to the cryptocurrencies.
Before we delve deeper into the role of AI in cryptocurrency...