Artificial intelligence (AI) can derive meaning from images, videos, and other visual inputs – and perform actions or make recommendations based on that knowledge. This branch of AI is called Computer Vision. Decentralization has affected the world in unexpected ways. While crypto has primarily influenced the Financial sector (Defi), it has many use cases across various sectors. Even though blockchains are considered to be the most advanced form of money transactions, certain technological errors and shortcomings need to be addressed.
Cyberattacks are one of the major issues to be addressed. Systems using blockchain technology always seem to be under the threat of cyber threats from which recovery is almost impossible. Cyber threats and attacks in the blockchain sector soared in the year 2020. Therefore, prevention is better than cure, and that’s where the marriage of computer vision and cryptocurrency enters the picture. Computer vision, considered one of the highest forms of artificial intelligence, can be used to fill critical and indecipherable gaps in the blockchain system, such as scaling, modeling, and privacy analysis.
Additionally, we should recognize the need for decentralized systems even in the financial sector, because the world is migrating to a digital culture and businesses are promoting hyper-convenience for customers. Therefore, computer vision proves highly efficient and effective, and obliterates complex challenges such as stakeholder management, identity management, data integrity, and regulatory compliance. The need for powerful cameras is heavily realized for all such activities requiring stringent diligence.
Computer power is only going to grow, and in sensitive scenarios, it is only the integration of computer vision that can deliver the desired results. The plans to implement the duo in cryptocurrency or the blockchain sector as a whole have not been reported, but tech experts and economists are contemplating the possibility by measuring other benefits that computer vision integration in cryptocurrency will provide.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
