Interview Business Markets Software Technology
May 24, 2024

Web3 AI Unveiled: Jimmy Zhao Unpacks How BNB Chain’s Integration of Blockchain and AI Redefines Trust, Transparency, and Decentralization

In Brief

Jimmy Zhao, Senior Solution Architect at BNB Chain, discusses the convergence of AI and blockchain technology, highlighting Web3 AI’s potential to address AI system shortcomings and potential issues.

This time, Jimmy Zhao, Senior Solution Architect at BNB Chain, will cover the convergence of artificial intelligence (AI) and blockchain technology in depth. Zhao shares his insights on how Web3 AI can address the shortcomings of current AI systems, the fundamental problems it aims to solve, and the potential issues ahead. He also provides an overview of the specific tools and services BNB Chain can offer to develop decentralized AI applications on its network.

With the rise of AI, privacy and data security have become major concerns. For example, we can see how authorities are concerned about deepfakes and malicious AI usage. How can blockchain technology and AI address these issues?

Turning to blockchain technology for a solution, when integrated with AI, can provide a robust defense against these issues. Fundamentally, Web3 AI addresses the pain points of Web2 AI projects through data privacy and avoiding data monopolies, ensuring control over personal data stays with the individual rather than corporates or tech giants. 

Blockchain technologies also ensure provenance for all types of creative works created by humans & AI. It supports decentralization, transparency, and self-acclaimed data ownership, making it a viable solution for privacy and data security.

What are your predictions for the Web3 AI industry in the coming years?

The integration of AI and blockchain is set to enhance business models and efficiency through AI-powered Decentralized Autonomous Organizations (DAOs) and optimized smart contracts. It will lower the cost and also bolster data privacy and security with the implementation of cutting-edge, privacy-preserving AI techniques and robust decentralized identity solutions. 

What are the fundamental problems of Web2 AI, and how can they be solved by Web3 AI?

Web3 AI addresses the core issues of Web2 AI by leveraging blockchain’s decentralized infrastructure and smart contract capabilities. Rapid AI growth is a rising GPU supply, creating a significant gap in computational resources. Upcoming AGI will exponentially increase the demand for computing power. The current AI ecosystem is characterized by inefficiencies and imbalances.

DePIN allows users to contribute idle computing power, which fails to match demand and generate revenue. DePIN can benefit SMEs, especially AI field startups. 

Are there any challenges lying ahead on the way to the adoption of Web3 AI?

Even though the adoption of Web3 AI presents challenges, we are proactively addressing these. Infrastructure development, one of the major challenges, is being tackled with a robust, scalable ecosystem that supports advanced AI integrations. To address user trust and data privacy issues, our decentralized platform prioritizes high level data protection. Scalability, a critical requirement in Web3 AI, is maintained with constant upgrades.

Do you think ordinary people will notice the shift to Web3? If not, do you think developers and organizations should spread the word about the principles of this new wave of technologies?

People outside of the Web3 space may not initially notice the shift, especially those who are not deeply involved in technology or digital industries. This is because many of the changes will occur behind the scenes in the applications and platforms that people use daily. 

However, over time, as Web3 technologies become more embedded in our digital systems, people will begin to notice differences. Features such as decentralized data control, better privacy, direct peer-to-peer interactions, and potentially lower fees for various services are all user-facing aspects of the Web3 shift that individuals may directly experience.

Given the transformative potential of Web3, it’s important for developers and organizations to educate people about these new technologies. Ensuring people have a basic understanding of Web3 principles can help them make informed decisions about which platforms and services to use. They will also be better prepared to protect their digital assets and rights in the increasingly decentralized internet of the future. 

Could you provide more details on the specific services BNB Chain focused on supporting the development of decentralized AI applications?

BNB Chain, with its robust multi-chain “One BNB” architecture consisting of BSC, opBNB, and BNB Greenfield, provides a seamless and efficient ecosystem for AI projects, enabling a wide range of AI applications. BSC, with its high-speed transactions and EVM compatibility, supports high-volume transactions essential for AI applications. opBNB, a Layer 2 solution, accommodates high-performance AI applications with rapid processing and low latency through its optimistic roll-up technology. BNB Greenfield primarily focuses on decentralized data storage, which is vital for AI applications managing large volumes of data. 

It is committed to cultivating innovation through initiatives like hackathons and the Most Valuable Builder (MVB) program. BNB Chain continues the integration of AI in Web3, building a solid foundation for AI innovation across various sectors.

What potential benefits or challenges might arise from such decentralized AI organizations or AI-powered DeFi applications?

Decentralized AI and AI-powered DeFi applications present several benefits and challenges. Advantages include enhanced security, reduced bias, financial inclusion, improved transparency, and organizational autonomy.

However, challenges exist, such as complexity in creation and maintenance, and scalability issues given the computational demands of AI. At BNB Chain, we are dedicated to optimizing these benefits while effectively addressing the challenges, offering our users innovative and secure services, all while scaling effectively.

What are your predictions for the future of Web3 AI, and how do you envision this fusion of technologies transforming various industries and sectors?

Web3 and AI technologies will reshape various sectors through decentralized, transparent, and user-centric applications. The fusion of Web3 and AI on BNB Chain promises a powerful platform for AI-powered applications with enhanced transparency and a key pillar for mass adoption, and personalized AI agents will become more popular.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Viktoriia is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.

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Viktoriia Palchik
Viktoriia Palchik

Viktoriia is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.

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