EU Blockchain introduces a report on AI, IoT, and Tokenization

by | Apr 11, 2019 | IoT News

The Blockchain Observatory of the European Union has come out with a report on 10th of April 2019. The report states that the physical asset’s tokenization impacts on both Artificial Intelligence and Internet of Things.

Dr. Tim Weingartner is solely responsible to author the report. As of now, Weingartner is an esteemed professor at the Lucerne University that specializes in Applied Science & Art. By the looks of it, it is also an institute which is specifically curated for IT. The college came up with a new concept called “digital twin.” The fundamental nature of the concept is based on the digitized replication in the physical world. On top of that, the report is acting like a mirror about the happenings on big data, Internet of Things. The report reveals the physical data that a cryptocurrency token represents along with Artificial Intelligence as well as blockchain, the trustworthy ledger.

According to the report, blockchain is going to play a significant role to digitally transform the medium of providing trust and identification as well as tokenization of the physical objects around the world. By the looks of it, the reports talk about the Smart Contracts and computational nature of mining cryptocurrency.

Progressively, the documents say that there is a sheer need to combine blockchain technology with the Internet of Things. According to Weingartner, the combination will give a result to better management of supply chain, enhanced level of trust that will furthermore enhance the economic growth of a region or a country, in trading data, monetizing, automatization as well as identity management.

Judging the documents, the Internet of Things will eventually curate cutting-edge drones and robots with the help of Artificial Intelligence which will act as the “mover” of the digitized universe. By judging the content of the report, drones, as well as robots, will drive the intervention of the digitization directly into the physical world.

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Neelam Dimri

A post graduate and gold medalist in English literature with a great passion for writing. I am an avid blogger and love to write technical and nontechnical Articles, Blogs, e-books, the latest platform of global interest. I firmly believe in the healing power of writing and how it works fantastically to improve one’s creativity as well as personality. Life is too short to express yourself so, keep writing and enjoying.