The document discusses how AI and blockchain technologies can help users earn passive income. It explains that AI relies on large datasets for training models to solve problems, and blockchain provides an immutable and decentralized way to store and access data. The document then gives examples of how AI is already used for passive income activities like cryptocurrency trading based on historical market data. It describes one platform called Autonio that allows users to create AI trading algorithms based on technical indicators. In summary, the document outlines how combining AI abilities with blockchain's data capabilities could power new passive income opportunities for investors.

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How AI and Blockchain can help you earn a
passive income ?
The past decade has been abuzz with speculation about both Artificial Intelligence and
Blockchain Technology. Both hold enormous potential for human society as it stands and
has both taken a long time to produce fruitful products. Highly developed AI modules are
already entering the real world in products such as spam filtration, AI-based chess engines,
and even self-driving cars.
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The true genius of such inventions is that they can produce code independently to solve
problems in real time without any need for intervention from human beings. So let’s look
at ways in which these strengths can be combined with blockchains to produce passive
income investors.
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Artificial intelligence and Blockchain - The Basics
Blockchains are the newest big revolution in data storage because of their unique strengths
such as transparency, security, and accessibility. Data stored on a blockchain is completely
immutable for all intents and purposes making blockchains a form of “truth ledger.”
Additionally, because of the use of public key cryptography, users of blockchains have
their private keys which give them complete control over their digital assets. This results in
decentralised ownership which is not dependent on a centralised government or business to
guarantee the asset’s value or ownership.
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Artificial Intelligence or machine learning is a kind of software that can solve new
problems based on the data that it has previously consumed. AI models rely heavily on the
datasets that are used to train them as their accuracy is a function of the data that is fed to
the model. For instance, an AI that aims to beat the leading chess players of the world
needs to see all the different kind of playing strategies to develop its winning strategy.
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Once an AI gets a stream of data, it runs some correlation and regression analyses on it to
get simplify the data for further use. Then, when it needs to apply that knowledge to take
decisions in the real world, it uses the condensed data to base its decisions. Therefore, the
quality and accuracy of the data provided for creating an AI model are of paramount
importance. This is where blockchains can be very useful for developing AI’s as they can
directly link data producers and consumers and also guarantee that the data generated is, in
fact, accurate and authentic.
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Passive Income by utilizing Blockchain and AI
One of the first use cases artificial intelligence was for making trades in the
mortgage-backed securities market in the United States by BlackRock, which is now the
world’s largest asset manager with $6.29 trillion in assets under management as of
December 2017. BlackRock achieved its present behemoth status by using the ALADDIN
AI to manage risk for their clients. ALADDIN, which stands for Asset, Liability, Debt and
Derivative Investment Network, manages about $15 trillion in wealth globally which is
about 7% of the world’s wealth.
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In a similar vein, AI can be used for cryptocurrency trading based on historical chart data
and technical chart patterns. Human beings are decidedly bad at interpreting and acting on
signals of a trading market often being carried by emotion to make trades. This is where AI
can be useful to make unbiased trades based on sound data. One such platform for
AI-based cryptocurrency trading is Autonio which is based on Ethereum.
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The platform lets users create their algorithm with 20 technical indicators (including RSI,
MACD, EMA & Bollinger Bands), with the coin pairing of their choosing and also trade
window of 1 hour to 1 day. This is especially useful for beginners and intermediates as
they can simply pick out the indicators that they think are relevant and let the AI make
trades to their benefit. As with any other form of investment, AI-based trading is not
completely free from risk, and it is important that investors understand the amount of risk
that they are willing to take on their investment. Given that, AI-based trading makes more
sense because in the long run impartial methods of making trades have been shown to
perform better than emotion-driven modes of trading.
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Blockchain Council Certifications
You can check out our certifications, and kick start your career in the Blockchain
space today.
● Certified Blockchain Expert
● Certified Blockchain Expertv2
● Certified Blockchain Developer
● Certified Smart Contract Developer
● Certified Solidity Developer
● Certified Ethereum Developer
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hello@blockchain-council.org
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