On 13th July 2023, Zeeve held a Twitter space hosted by Karthik MS, Social Media Manager of Zeeve., where Rahul Maradiya, Co-Founder and Global CEO of the CIFDAQ blockchain ecosystem, was invited to join the discussion on “The Importance of AI in Blockchain.”
Karthik started the session by announcing an upcoming event called the Web3Titans, which will be held across India in Mumbai, Ahmedabad, Kolkata, and Chennai on the 15th and 16th of July; which will be a fantastic opportunity to network, brainstorm, and showcase your ideas!
The first question posed by Karthik on how AI contributes to enhancing the security of blockchain networks. On this, Rahul mentions that blockchain and AI are transformative technologies. AI can analyze patterns and detect anomalies, helping identify potential security threats.
Rahul further discusses how AI automates transaction verification, reducing human errors and enhancing overall security. AI’s intelligent threat detection and real-time data integrity ensure the reliability of blockchain transactions. Moreover, AI can verify identities, preventing fraud and boosting security in blockchain networks.
The next question discussed what’s unique about CIFDAQ and how AI enhances its efficiency. Answering this, Rahul reveals CIFDAQ’s blockchain, powered by AI, is a game-changer.
They have developed a decentralized AI model that increases smart contract performance through parallel validating systems. AI’s data analysis enhances security by preventing human errors and standing as a shield against cyber attacks. It also optimizes resource allocation and automates transaction verification, boosting the blockchain’s speed and efficiency.
Rahul also mentions that CIFDAQ prefers hot wallets over cold wallets.
Karthik then asked Rahul to explain why and how AI strengthens hot wallets.
Replying to Karthik, Rahul explains that AI enables them to closely monitor hot wallets, detecting unusual transactions that could signal security threats. Machine learning algorithms predict breaches and take preventive measures.
They automate transaction verification, making hot wallets more secure. AI’s robust privacy system shields against hacking and fraud, ensuring user’s private keys remain safe.”
Rahul says CIFDAQ Custodian is a cutting-edge platform, like a digital bank for assets. It deploys AI-powered MPC models to fractionalize and secure private keys. The AI cybersecurity model acts as a proactive shield against hackers.
Lastly, they discuss the overall efficiency of the blockchain ecosystem.
Rahul explains how CIFDAQ’s AI revolutionizes blockchain efficiency. Through decentralized AI, it analyzes vast data and transactions, boosting performance. With AI, CIFDAQ achieves high transaction speeds, streamlines data storage, and unlocks new revenue opportunities.
Thus wrapping up the session, Karthik expresses gratitude to the audience for their time and listening attentively.
To find Rahul Maradiya`s answers to Karthik’s questions on “The Importance of AI in Blockchain.”
Click the link below and listen to the Zeeve Tech Talk episode.
