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The AI-Blockchain Nexus: Redefining Tech’s Future
By Emmanuel Ebanehita, the Chief Marketing Officer of Fuse Network
The convergence of Artificial Intelligence (AI) and blockchain has emerged as a transformative catalyst. This fusion promises to disrupt industries and redefine how we transact, interact, and innovate.
This symbiotic relationship between decentralized ledger technology and machine learning is not just a trend; it’s a profound shift that promises to transform industries, reshape economies, and revolutionize our understanding of data-driven opportunities.
AI and blockchain have already caused significant disruptions in the tech landscape. A recent market research analysis by Facts and Factors predicts that the global AI market will grow from $29.86 billion in 2020 to $299.64 billion in 2026, indicating a compound annual growth rate (CAGR) of 35.6 percent.
Likewise, experts forecast that the global blockchain market will experience a CAGR of 67.3 percent, taking it from $3 billion in 2020 to $39.7 billion in 2025. In terms of functionality and impact, AI, with its capacity to process extensive data and make intelligent decisions, has found applications in fields from healthcare to finance. On the other hand, blockchain has showcased its capability to improve transparency, security, and trust across various sectors.
However, their convergence becomes formidable because it creates a harmonious ecosystem where organizations can execute data-driven decisions transparently and immutably.
This synergy extends beyond a single industry; it can simultaneously disrupt and transform multiple sectors. An IBM Consulting report supports this idea, stating that the intersection of AI and Blockchain yields various positive ‘combined values,’ including ‘Augmentation, Automation, and Authenticity.’ Recent reports also project that the global blockchain-AI market will increase from $230 million in 2021 to nearly $1 billion in 2030.
Africa, with its vibrant entrepreneurial spirit and burgeoning tech scene, stands to gain immense benefits from the convergence of AI and blockchain—an alignment with the continent’s aspirations for inclusive economic growth and technological empowerment positions the synergy favorably. Consequently, Africa’s unique challenges and opportunities create fertile ground for innovative solutions powered by AI and blockchain.
In particular, blockchain technology can enhance transparency and trust in supply chain management and financial services. Meanwhile, AI can drive efficiency and data-driven decision-making in healthcare, agriculture, and education. Together, they can create a virtuous cycle of innovation and economic development within the continent.
As the blockchain AI market expands and matures, numerous organizations have made strides to offer innovative services that allow consumers to benefit from the best of both worlds.
Among the vanguards of this technological synergy is Fuse.io. Founded in 2019, Fuse is more than just a platform; it’s a visionary solution that empowers businesses and developers with end-to-end capabilities for Web3 payments. With over 1.8 million users, over 128 million successful transactions, and a presence in 12 countries, Fuse.io exemplifies the potential of AI and blockchain to transcend borders and empower small and medium-sized businesses.
Fuse’s value proposition is profound. It offers businesses an alternative to traditional payment methods, sparing them from the demanding fees associated with credit cards. Through Fuse’s Software Development Kit (SDK), smaller merchants with limited technical abilities can seamlessly integrate payment solutions at lower costs and with heightened reliability. The future is undoubtedly non-custodial, and Fuse is at the forefront of this movement, providing security and control with its non-custodial wallet SDK.
What are Fuse’s unique propositions, and how is the brand leading the way in the convergence of AI and Blockchain?
Speaking at the just concluded Tech Next Conference, themed: Disruptive Tech: New Frontiers, New Opportunities, Emmanuel Ebanehita, the Chief Marketing Officer of Fuse Network, explored numerous measures through which Fuse.io is leading the way in the convergence of AI and Blockchain.
AI-Powered Mobile Payments:
Fuse’s mobile-first approach perfectly aligns with the trajectory of mobile-centric payment solutions. By integrating AI into its mobile payment infrastructure, Fuse enhances the user experience by anticipating spending behaviors, offering financial guidance, and fortifying security measures to detect potential fraud.
This seamless blend of AI and mobile payments amplifies convenience. It fosters a heightened sense of security and trust among users, especially in developing economies like Africa, where security concerns are highly palpable, thereby shaping the future of digital transactions.
Data Transactions for AI:
Fuse’s microtransaction capabilities are a game-changer for AI companies aiming to acquire data directly from individuals. In today’s AI landscape, where human-generated content is the lifeblood of machine learning, microtransactions play a crucial role. They enable fair compensation for content creators, driving the development of generative AI models. Fuse’s cost-effective transaction model provides the perfect solution, making this symbiotic relationship between AI and human creativity economically viable and sustainable.
Decentralized AI Marketplaces:
Fuse extends its influence far beyond the realm of payments. It provides businesses the tools to create personalized decentralized applications (dApps), enabling access to platforms where AI models and services can be decentralized. This democratization of AI capabilities enhances accessibility and fosters an environment for innovation to thrive.
In these ways, Fuse.io is pivotal in transforming AI into a force that empowers individuals and small enterprises, reshaping the landscape of technology-driven entrepreneurship.
Overall, the convergence of AI and blockchain signifies a significant transformation in the technological landscape, and its impact will reverberate worldwide, not just in Africa. As we harness this synergy, we unleash a future brimming with limitless possibilities, and Africa, with its dynamic tech ecosystem, holds a unique position to spearhead this transformative journey.
Fuse’s pioneering role exemplifies how technology can bridge gaps and empower businesses, providing a preview of a future teeming with data-driven opportunities. Together, AI and blockchain have the potential to shape the future of technology, leaving an enduring impact on industries, economies, and societies.
In today’s fast-paced world, where every penny counts, finding ways to save on essential services is more important than ever. And as part of its commitment to customer satisfaction, DStv has reiterated its “Price Lock” feature.
This is in response to the upcoming tariff increase, which the company understands may impose some financial strain on its valued customers.
What exactly does the “Price Lock” feature entail? The “Price Lock” feature offers customers the opportunity to retain their subscriptions at the current rate for 12 months.
To use the “Price Lock” feature, customers simply need to renew their subscriptions before the due date each month, ensuring uninterrupted access to their favourite DStv content at the current rate for the next 12 months.
But here’s the catch: only customers with an active subscription by the 30th of April qualify for this offer, when the tariff adjustment comes into effect.
Make sure you don’t miss the price lock offer! Simply download the MyDStv or MyGOtv app or dial *288# to subscribe, upgrade, or set up Auto-Renewal.
Civil Society Organisation (CSO) under the auspices of Open Justice Initiative (OJI), has threatened to drag the National Broadcasting Commission (NBC) to court if it fails to ban Netflix, TikTok, and others over the alleged broadcast of offensive same-sex content on Nigeria’s airwaves.
The CSO, also urged NBC to ban other social media platforms, including X, formerly known as Twitter, Facebook, etc with regard to the subject matter.
Donald Ayibiowu, lawyer and programme officer of OJI, gave the warning in a letter addressed to Mr. Charles Ebuebu, director-general of the NBC.
The certified true copy of the letter titled: “Need to ban and bar the continuous broadcast of offensive same-sex contents on Nigeria’s airwaves by Netflix and other specialised broadcast outlets”, made available to newsmen in Abuja, was received by the Commission on April 23, 2024.
The letter said, “We write to draw the esteem attention of your commission to some obnoxious and repugnant same-sex contents being aired or transmitted by some broadcast outfits operating within the Nigeria broadcast space, which platforms includes Netflix and some social media entities.
“These abhorrent contents being campaigned about borders on the promotion of amorous relationships between persons of same sex on the said platforms.
“We received complaints on this topic from well-meaning Nigerians and religious organisations and further discovered that the broadcast contents/materials on these platforms are laced with embedded scenes/episodes where same-sex relationships are practically being propagated.
“We also conducted research on some social media platforms like TikTok, Twitter (X), Facebook (Meta), etc with regards to this subject, and found same hazardous and illegal same-sex content being promoted and transmitted.
“It is clear that there is an agenda to surreptitiously lure the unsuspecting young population of this country to this satanic habit/lifestyle of same-sex practice in Nigeria by subtly introducing same through entertainment and showbiz industry, albeit through the airwaves.
“It is now commonplace to see some of these illegal contents being conveyed on social media and specialised platforms in Nigeria.
“We wish to point out that these contents are clearly being aired or transmitted in contravention of our extant laws such as Sections 4(2) and 5(2} of the Same-Sex Mariage (Prohibition) Act, 2013,” he said.
The lawyer said the act being subtly propagated and promoted via the mediums was targeted at destroying the moral fibre and rectitude, erode, dislodging and polluting the society with unacceptable inhuman values.
He said it was also to erode the age-long cultural practices and sacred religious belief system of male and female gender only as created by God Almighty.
Ayibiowu said, that if the commission failed to block, restrict or scrap the same-sex promotional material/contents from Nigeria airwaves, “we shall proceed to seek further redress in pursuit of our goal of saner Nigeria airwaves”.
Federal Competition and Consumer Protection Commission (FCCPC) has promised to review recent price increases in MultiChoice cable subscriptions to ensure subscribers in Nigeria get value for their money.
Recall that the leading pay TV operator, recently announced increase in the subscriptions for its DStv and GOtv packages by at least 25 per cent.
Multichoice announced the increase in tarrifs in a message sent to subscribers on Wednesday and said that the new regime will be effective May 1.
The company stated this in the statement signed by John Ugbe, chief executive officer was titled, ‘Price Adjustment on DStv and GOtv Packages.’
The pay-TV firm cited the rise in the cost of business operations as the rationale behind the price increase.
The company said, “We understand the impact this change may have on you – our valued customer, but the rise in the cost of business operations, has led us to make this difficult decision.
“It remains our mission to provide the best entertainment and viewing experience to you and are committed to continue to deliver high-quality content and unparalleled service. So, from Wednesday, 1 May 2024, the price adjustment will take effect.”
But Adamu Abdullahi, acting chief executive officer, FCCPC, in a chat with Channels Television on its Dateline Abuja programme on Thursday, provided an update on the summons issued to the owner of a Chinese store in Abuja accused of discriminatory and sharp practices.
He also commented on the adherence to the order given to the Abuja Electricity Distribution Company, stating that sanctions are imminent for all verified infractions identified by the agency.
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