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Bytom COO Qu Zhaoxiang: AI + Blockchain Is Leading the Fourth Industrial Revolution

The First Industrial Revolution brings steam engine and factory; the 2IR sees major technological advances in electricity and railway, and the 3IR offers us the internet, computer, as well as facilities of a modern society. Each revolution is accompanied by the advent of well-designed machines featured by higher efficiency.

While the Fourth Industrial Revolution may not purely pursue powerful machines with high efficiency, instead, it will fundamentally change the way we relate to tools, the world and each other by focusing on machines who will process, analyze and then act without human intervention.

Klaus Schwab, founder and executive chairman of the World Economic Forum, believes blockchain will be one of the key technology breakthroughs in the fourth industrial revolution. Artificial intelligence and blockchain, the fusion of the two technology innovations of today, will be a significant milestone in the development history of blockchain.

Trillions market in AI industry, blockchain takes the lead

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At the Global Issue 2018 conference held in South Korea, Bytom COO Qu Zhaoxiang made an elaboration on the combination of AI and blockchain themed by “One Camera One Vote, Embrace the Smart POW Era”.

Bytom team creates the innovative consensus algorithm “Tensority” based on the tensor calculation with advantages from other consensus algorithms, and made its debut at MIT. Tensority also adopts the Matrix mechanism as the fundamental component of AI deep learning. Based on the innovations above, it enables the PoW more pervasive and friendly to ASIC.

Meanwhile its dedicated consensus equipment could be engaged in AI cloud acceleration, in an effort to reduce wastage of resources and endow calculation with more social value. Bytom also teams up with Bitmain to launch an AI lab in a bid to step in the AI space.

The conference has attracted a plurality of world’s top 500 companies including Hyundai group, LG, SK, Lotte and Samsung, as well as hundreds of heavyweight guests worldwide from the blockchain industry.

The scale of global artificial intelligence market will reach $1.2 trillion in 2018, up 70 per cent from 2017; and the commercial value driven by artificial intelligence will be as high as $3.9 trillion in 2022, according to a report by Gartner.

Compared to cloud computing in rapid growth, as the infrastructure for cloud computing, 30% of Intel’s server business is provided for companies of cloud computing. And the server sales in the Asia-pacific region alone has increased by 9.7%. Cloud computing’s rapid growth is to the server market what the AI is to ASIC chip market. It is within expectation that when the scale of AI market reaches trillions, the market scale of ASIC chip certainly will reach hundreds of billions.

AI algorithm powers millions of Edge Computing terminals to be consensus nodes

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Bytom’s Tensority algorithm powers millions of Edge Computing terminals to become consensus nodes. Taking webcams for example, a webcam could fully meet the requirements of a consensus node, for it has a large equipment base in standby mode 24/7 with access to network and storage, and more importantly it could run Tensority algorithm.

According to statistics, by 2017 China has had 176 million webcams; the number is expected to exceed the population of all mankind in 2023, and it will further explode in the future.

Edge computing is a method of optimizing cloud computing systems by performing data processing at the edge of the network, near the source of the data. It is an open platform integrated with internet, calculation, storage and applications, to meet the essential requirements of fast connection, real-time business, data optimization, application intelligence, security and privacy protection.

Compared with cloud computing, edge computing focuses more on the real-time intelligence. Terminal device like webcam is a common edge computing device. In this context, edge computing has become the key layout of AI-related chip manufacturers and device integrators, and the chip maker giant ARM expects 100 billion AI-related chips will ship by 2020.

Bytom ecosystem fuels the internet of smart asset

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Qu disclosed that 2018 would be the explosion year of Bytom ecosystem along with the launch of its mainnet.

The blockchain technology, together with the global community efforts helps to realize the goal of “Internet of smart asset”, where asset could be conveniently registered and flexibly programed and circulate. It provides a possibility of independent interactions in the digital era between persons, human and asset, asset and smart terminal, and even asset and asset in the future.

It is believed that the adoption of Tensority algorithm would fuel more computing power in the operation of smart economy. And the PoW mechanism would retell that computing is power.

Use blockchain protocol to gradually build the global internet of smart asset, to secure everyone’s right to their untampered asset, to endow everyone the right to programme their asset, to enable the flowing wealth better promote the development of individuals and the entire society, and to herald the advent of digital era and smart times, this is the vision of Bytom.

 

COMMENTS(1)

  • 8BTCnews
    4 weeks ago 8BTCnews

    #Bytom COO Qu Zhaoxiang: #AI + #Blockchain Is Leading the Fourth Industrial Revolutionhttp://news.8btc.com/bytom-coo-qu-zhaoxiang-ai-blockchain-is-leading-the-fourth-industrial-revolution …

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