Since the inception of the blockchain with Bitcoin in 2009, there has been a huge interest from governments, and central banks alike to design their own centralized digital fiat currency for their benefit. Given the security benefits and efficiencies that the blockchain provides, it would be used well in conjunction with AI technology, to transform the global economy in ways we've never thought possible.
As such, there could be a future where everything is managed by AI and the blockchain would serve as the security and settlement layer for any kind of transaction. A one world currency might become a reality where it is backed by all the banks and governments alike. If this happens, then true autonomy would become established enabling everyday devices to operate on their own and "monetize" themselves via the use of a single unified global currency which operates on a blockchain.
Therefore, both the blockchain and AI will have a huge impact in our world economy, and every aspect of our lives as we know it. Of course, this might take quite a few years to happen, but the benefits provided by such technologies would be too hard to ignore.
What are your thoughts about this? Will both Blockchain and AI improve the world's economy?
There are already such blockchain projects which are related to AI development. One of them I ran into yesterday was deedcoin, which hires both bots and people in real estate business. Surely among the projects like that we can name the one with your signature, IOS, as well as IOTA. Both deal with Internet of Things and that's basically blockchain helping various AI to communicate with one another.
As for improving the economy - that's tricky. While blockchain gives people the free market and a right to generate money instead of only using it, AI automatizes the processes people are now making happen. Thus, AI can take away a lot of jobs from people and while it is potentially beneficial to the companies which do that as well as humanity in general, since people are encouraged to do more intellectual work, this can lead to mass unemployment which is not a good thing for economy. People have to be prepared for the changes which are about to come.