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Highlights from the 2019 AIBC Summit. Bleutrade in Malta

Highlights from the 2019 AIBC Summit. Bleutrade in Malta

AIBC Summit – Our Bleutrade marketing and our advisor went to Malta to participate the 2019 AIBC Summit and it was really awesome. We highlighted some points to share with you. Come and read more.

The Artificial intelligence and Blockchain Summits held in Malta are always exciting and the 2019 Spring edition was no exception.

During the two days in which this summit took place, the conference room was jam packed with blockchain, crypto and AI enthusiasts from numerous industries from all over the world who were eager to listen to great and inspirational speakers unveil the newest discoveries and projects.

From the Blockchain Battle, which puts companies and startups head to head tom battle it out on who has the better pitch to earn a great prize, to the legendary debate between Roger Ver and Tone Vays on which coin is better between BTC and BTC Cash, there was never a dull moment.

For all of you who could not make it to the summit we have compiled some of the best highlights and speeches which took place.

Web 3.0

Web 3.0 indicates the path in which the future of websites, from both a development and interaction point of view, will take. The fundamental change will be seen in how developers create websites and how users will interact with such sites.

This will hopefully lead to people’s online lives becoming easier and more intuitive since AI will be utilized. The AI will have the ability to understand contexts rather than just comparing keywords.

Larry Sanger, co-founder of the infamous Wikipedia, elaborates on this as he delves into how blockchain can impact the change towards Web3.0. Sanger continues by addressing that one of the main factors that has lead to the popularity of blockchain.

This is due to its ability to give users control over their data and relationships. However, he states that he is still unsure as to how Web3.0 will look like as there are 2 powerful forces at odds.

On one hand there is centralization, regulation, cyber-collectivism, and on the other, there is decentralization, data ownership, cyber-individualism.

Blockchain’s impact on charities

Trust in charities has declined drastically over the past few years. Unfortunately, there have been numerous times in which funds were being misused. Corruption has always been a big challenge and obstacle to tackle. There have been cases of funds which were never received by the intended recipients.

Charities have also been accused of lacking transparency. As some have failed to show how much funds from donations is spent in paying staff and how much they have in reserve. Sandor Habsburg-Lothringen, Archduke of Austria, explained how most of these challenges can be overrun with the help of blockchain technology.

Blockchain allows finances to be publicly audited to ensure that charities remain accountable. In this sense the notion of decentralization plays a vital role since it eliminates the need for banks so funds can be directly sent to those in need without the use of a middleman.

Combating DeepFake AI using Blockchain

DeepFake AI is a technique for human image synthesis. It is primarily used to combine and superimpose existing images and videos onto source images or videos via a machine learning technique called generative adversarial network. This basically entails that anyone with a computer can generate a video anyone stating anything including CEOs, presidents and other important people.

The issues and consequences are quite obvious and alarming. Toufi Saliba states that cryptography and blockchain can aid us in this matter. This is achieved by the use of a hash function which certifies that a chunk of data, this could be a whole video or part of it, is assigned a hash, a number of characters.

According to the time it was recorded and, through temporal coupling. It is grouped with another hash from another source and stored in the blockchain. This leads to a higher certainty that that particular video was signed by its recorder/uploader.

How AI will influence the job market

Artificial Intelligence has been the subject of debate for quite some time. Especially with regards to the impacts it might have on the future job market. Usually, people look at it from a negative point of view as some think that they might loose their job to a machine. However, during the debate at the 2019 AIBC summit, Angelo Dalle says that when you truly think about it, this could be beneficial.

For example, AI could help with the issue of driverless cars which may lead to fewer accidents since the possibility of human errors would be removed. Ben Goertzel mentions that AI will not cause large-scale unemployment. He goes on to mention that some industries would still require a human touch. Plus AI could be taking on more mundane jobs so people have more time to pursue their careers and dreams.

Debunking the biggest blockchain myth

One of the most popular bitcoin myths, that it has no intrinsic value, was debunked by Miko Matsumura during his talk at the 2019 AIBC summit. In his speech, Matsumura noted that gold, which is the standard to measure intrinsic value. It is primarily (85%) used as a speculative investment while the 15% left is used for industrial purposes.

Hence, what is Bitcoin’s intrinsic value? Since Bill Gates once said that another financial collapse is coming. Matsumura states that Bitcoin’s intrinsic value can be seen as an alternative to a broken financial system.

After all, Bitcoin was created to safeguard against unsound money, and that is where it’s true value lies. Matsumura ended his talk by saying that, using his own calculations, BTC should be worth around $300K.

See more about Malta AI & Blockchain Summit.


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