Blockchain technology has become a global buzz due to its valuable peer-to-peer approach to data sharing through decentralized ledger technology. CEO of HashCash Consultants, Mr. Raj Chowdhury believes that blockchain in combination with IoT and AI technology can improve decisions in the future with better accuracy, and may be used in predicting weather conditions.
Implementing Blockchain with AI & IoT to Predict Weather Forecasts
The weather department gathers huge amount of data for creating forecasts about teh present climatric conditions. These forecast informations are then taken up by several businesses especially logistics shipping companies, and agriculture. Blockchain technology can be implemented to collect on-surfac e observations of parameters focused on the atmospheric conditions such as temperature, humidity, atmospheric pressure, wind direction, and more.
Blockchain pioneer, and CEO of HashCash Consultants, Mr. Raj Chowdhury asserts, “Widespread proliferation of IoT sensors has successfully established its uses across the weather departments, while AI/ML is being used for forecasting. The last remaining thing is establishing “trust” in the data’s accuracy- which is something blockchain excels at with consensus protocols, immutability, and transparency.”
The underpinned technology behind teh globally acclaimed cryptocurrencies has revealed its huge potential behind the finance universe, and supply chains. A decentralized blockchain ledger stores validated transaction records, that are immutable in nature and protected through consensus mechanism. These blockchain networks are distributed through out its network node members, and assure real-time visibility of transactions. The blockchain architecture can be implemented across any industry or area where accurate and protected documentation is prioritised while sharing its access to other members associated with the network.
“Reliable information has always been critical to success. The ongoing age of digital transformation may have revolutionized the way we acquire data, but everything is left to chance without validation. This is exactly why all top organizations in the world are already using blockchain,” quoted Chowdhury. He has previously acknowledged the use of blockchain’s use in airlines, and patent claims data management.
According to a worldwide tech research firm, Gartner, predicts blockchain will generate $176 billion worth of businesses within 2025, and might reach $3.1 trillion by 2030. The technology is still in its infancy, and has revolutionized the industrial landscape worldwide optimizing the work procedures, eliminating intermediaries, and streamlining operations, by providing transparency, and trust across its ecosystem.