Discussing the Role of Data and AI in the Blockchain Ecosystem on Cointelegraph's Podcast

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by Giorgi Kostiuk

2 years ago

Made with AI

  1. The Role of Data in Web3
  2. Intersection of AI and Blockchain
  3. Future of Web3 Applications


    4. In a recent episode of Cointelegraph's *Hashing It Out* podcast, Chris Feng, co-founder and chief operating officer of Chainbase, joined host Elisha Owusu Akyaw to discuss the evolving role of data and artificial intelligence in the blockchain ecosystem. The podcast delved into how these technologies drive new developments within the Web3 space, shedding light on the untapped potential of onchain data as a critical asset for both industries.

    The Role of Data in Web3

    Feng explained how onchain data is not just a record of transactions but is becoming a new type of asset class. As Web3 grows, data from blockchains is being leveraged for more than just verifying transactions - it’s also providing valuable insights that fuel innovation. Feng emphasized the need for robust data infrastructure to support this shift, noting that Chainbase is building an ecosystem where developers can work with high-quality data, driving more precise applications in the Web3 environment.

    Intersection of AI and Blockchain

    A key point of discussion was the intersection of artificial intelligence and blockchain. According to Feng, the rise of AI has significantly impacted how businesses operate, with blockchain playing a crucial role in ensuring transparency and trust in data. Chainbase addresses this by providing a network that converts raw blockchain data into actionable insights for AI applications, allowing models to better understand and process blockchain data.

    Future of Web3 Applications

    Feng also highlighted the broader implications of this transformation, predicting that integrating AI with blockchain could shape the future of Web3 applications, creating smarter, more efficient platforms that lower entry barriers for developers.

    This episode offers a clear view of how data, AI and blockchain converge, setting the stage for new technological advancements in the Web3 space.

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