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EU Commission urged to prepare for blockchain and AI integration

A new report from the EU Blockchain Observatory and Forum (EUBOF) underscores the growing convergence of blockchain and artificial intelligence (AI) technologies. The report, published on May 27, 2024, outlines how these two cutting-edge fields can complement each other to drive innovation and economic growth in the European Union.

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A new report from the EU Blockchain Observatory and Forum (EUBOF) underscores the growing convergence of blockchain and artificial intelligence (AI) technologies. The report, published on May 27, 2024, outlines how these two cutting-edge fields can complement each other to drive innovation and economic growth in the European Union.

The EUBOF report emphasizes the potential of integrating AI with blockchain to enhance various applications, from finance and supply chain management to healthcare and government services. By leveraging the transparency, security, and decentralization of blockchain, AI systems can become more robust, trustworthy, and efficient.

One of the key findings of the report is the ability of blockchain to address some of the critical challenges faced by AI, such as data integrity and traceability. Blockchain’s immutable ledger ensures that AI models are trained on accurate and verifiable data, reducing the risk of bias and improving the reliability of AI predictions.

Additionally, the report highlights the role of AI in enhancing blockchain networks. AI algorithms can optimize blockchain operations, such as transaction processing and energy consumption, making blockchain networks more scalable and sustainable. AI can also be used to analyze blockchain data, providing valuable insights and enabling more informed decision-making.

The EUBOF report calls for increased collaboration between stakeholders in the blockchain and AI sectors to explore the synergies between these technologies. It also recommends the development of regulatory frameworks that support innovation while ensuring the ethical and responsible use of AI and blockchain.

The convergence of blockchain and AI is seen as a strategic priority for the EU, with the potential to position Europe as a leader in digital innovation. The report outlines several initiatives and pilot projects already underway in the region, demonstrating the practical benefits of combining these technologies.

As blockchain and AI continue to evolve, their integration is expected to unlock new opportunities and transform various industries. The EUBOF report provides a roadmap for policymakers, researchers, and industry leaders to harness the full potential of this technological convergence, fostering a more innovative and competitive European economy.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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