What is Difference Between Blockchain and Machine Learning?June 13, 2018
In 2010, Indian director, Shankar’s hit movie with Rajinikanth in the lead role (namely Robot) made us question the existence of robots and their capabilities. It was also a period when we easily waived away any such speculations claiming to have Shankar’s visual effect imaginations. Come 2018; this could already be possible! Now I am not sure about machines catching feelings, but Deepblue’s victory against chess champion Kasparov in 1997 should have been a heads up to us!
Machine learning is exactly this. It is when a machine learns either by programs or by its experience, it is called as machine learning just the way the name suggests. Just like the process of human learning, machine learning also constitutes of identifying patterns in given data and designing a more efficient system to outperform the previous versions. One might ask as to what’s the point in making a machine learn. Wasn’t last year’s slogan “Educate Women/Children”? However, the mere answer to this is that a machine has to learn to adapt itself in an intelligent manner when exposed to varying data. Thinking about it, you would understand that this would also avoid human interventions keeping the costs and human errors at bay. A simple day to day example of this is when we mark an email as spam and the mailbox assigns the future emails from that email id to the spam folder without human intervention. Machine learning can be very useful in financial sectors or consulting sector where new patterns can be unearthed.
Also Read : Future of Blockchain Technology
The Blockchain is entirely different from what Machine learning is. Blockchain refers to blocks of information that are connected via a unique number peculiar to each block called hash thus giving the name “chain” to it. As of now, it is the most secure database in the world with a decentralised approach which prevents malicious monopolistic activities. By eliminating human third parties and substituting them to a virtual third party is what adds the niche to blockchain and gains it the trust it holds. The Blockchain is something that can find a place in many sectors. For example, in the logistics industry, Blockchain can help to make the process more quality effective and contribute to root down the cause of any defects. This is very helpful when it comes to saving vast amounts of money for the companies. The Blockchain is generally a medium which can support a variety of servers or users.
Machine learning with Blockchain can create a lethal combination if utilized properly. Both are more or less like the two sides of a coin if used together. While blockchain helps to store correct data that is unaltered and permanent, Machine learning can utilize this data to notice patterns and give accurate predictions. This is more helpful in research related fields where there is a need for accurate data to predict plausible results. Blockchain can ensure security and ownership of the collected data and contracts can be programmed to send the data from the user to the data researcher avoiding middlemen. Working together even new and more efficient tools can be designed with this ground-breaking technology. For example, on using Blockchain, a new data set can be unleashed which is a better dataset and a new model can be formed from which new insights can be gained. This might also be the platform to attain new cutting-edge technologies. Additionally, this could be more beneficial to businesses to establish their niche and be ahead of the competition.
Probably one day the story of Arnold Schwarzenegger starrer “Terminator” might come true but as of now, we can say for sure that Machine Learning or Blockchain technology are in for the long run.
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