The Role Of Data And AI In The Blockchain Ecosystem

According to Cointelegraph, in a recent episode of the 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 (AI) in the blockchain ecosystem. The conversation highlighted how these technologies are driving new developments within the Web3 space, emphasizing the untapped potential of onchain data as a critical asset for both industries. Feng explained that onchain data is evolving beyond a mere record of transactions to become a new type of asset class. As Web3 continues to grow, blockchain data is being leveraged for more than just transaction verification; it is also providing valuable insights that fuel innovation. Feng stressed the importance of robust data infrastructure to support this shift, noting that Chainbase is building an ecosystem where developers can work with high-quality data to drive more precise applications in the Web3 environment. A significant point of discussion was the intersection of AI and blockchain. Feng noted that the rise of AI has significantly impacted business operations, 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, enabling models to better understand and process blockchain data. 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.