Blockchain, the technology behind the cryptocurrency ecosystem, is a system in which data is digitally created and processed into blocks called blocks. In this system, where blocks containing data are connected to each other, each block also contains information from the previous and next blocks. Therefore, in this technology, all blocks need to be changed to change the information in a block.
Artificial intelligence can be used in many different areas of this technology. Artificial intelligence technology is used in areas such as tracking transactions through identity verification processes on the blockchain, as well as in the creation of supply chains.
Artificial intelligence technology is used to buy and sell cryptocurrencies produced on the blockchain, as well as to track and classify these assets.
“They can work together to overcome their weaknesses”
It is believed that the collaboration of blockchain and artificial intelligence technologies could enable the elimination of similar problems in these two areas.
Istanbul University Department of Computer Technologies Bilgi Dr. Faculty member Çağla Gül Şenkardeş said that blockchain and artificial intelligence have similar weaknesses and that the two technologies can work together to eliminate these weaknesses.
Explaining that blockchain has problems such as scalability and efficiency, while artificial intelligence has problems such as reliability and confidentiality, Şenkardeş said, “The combination of these two technologies seems to be inevitable for the rapid development of these weaknesses. The revolution we are waiting for is this. They complement each other and become the infrastructure of the next digital generation.”
Pointing to both technologies' relationship with data, Şenkardeş explained that blockchain can make artificial intelligence decisions more transparent, explainable and reliable.
Stating that blockchain and artificial intelligence technologies working together in the near future can bring unlimited innovation to the ecosystem, Şenkardeş gave the following assessment:
“Systems that work with the integration of blockchain and artificial intelligence across many different industries, from healthcare to finance, will deliver significantly more efficient results in terms of data security and data reliability. Data management on blockchains in artificial intelligence studies examines the confidentiality and privacy of personal data.” , based on artificial intelligence “It will enable faster adoption and distribution of products and services.”
“Artificial intelligence is effective in preventing cryptocurrency fraud”
Binance Turkey Marketing Director Harika Eldoğan also said that cryptocurrency exchanges are using artificial intelligence technology to detect and prevent fraud and improve customer support.
Eldoğan explained that artificial intelligence helps detect fraud in cryptocurrency exchanges using various models such as the Large Language Model (LLM), pointing out that these models are trained using texts on the Internet.
Eldoğan explained that the organizations' academy departments also use ChatGPT-based tools to support the learning processes around blockchain and cryptocurrencies, saying: “To understand crypto and the technology behind it, users can keep asking questions until they fully understand it .” what you want. Such tools can increase crypto adoption.” “It will play an exciting role in increasing it.”
“The powerful data processing capabilities of artificial intelligence are widely used in the stock markets.”
Bitget COO Vugar Usi Zade also explained that artificial intelligence can significantly increase efficiency and reduce operating costs in the cryptocurrency ecosystem.
Zade explained that artificial intelligence strengthens cryptocurrency transactions in terms of security through its ability to analyze and monitor blockchain data, explaining that this reduces the risk of potential hacking and theft.
Noting that investors set their investment strategies by often leveraging the powerful data processing capability of artificial intelligence in stock markets, Zade said: “Artificial intelligence trading bots provide accessible and powerful trading strategies using terabytes of crypto market data that “allowing investors to optimize their income and adjust their strategies according to their preferences.”
“Artificial intelligence makes cryptocurrency exchanges more competitive and innovative”
CoinTR Chief Executive (CEO) Ali Eşelioğlu also said that in this field where algorithms and complex mathematical problems dominate, artificial intelligence can make significant differences in areas such as learning and adaptability, transaction automation, market analysis and fraud detection.
Emphasizing that artificial intelligence can track market trends and analyze data thanks to automatic trading bots, Eşelioğlu also explained that this technology is also used to detect fraud and other illegal activities.
Eşelioğlu explained that artificial intelligence will also be used in the field of customer service and support, and investors' questions will be answered quickly and effectively thanks to chatbots and virtual assistants. He said: “These multiple advantages offered by artificial intelligence enable cryptocurrency exchanges to be more competitive and innovative.”
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