- DAGs like IOTA enable energy-efficient, low-carbon blockchain solutions.
- IOTA’s zero-fee, fast transactions remove the need for intermediaries.
The Tangle Community Treasury (TCT) has expressed its enthusiasm over a new discourse led by tech giant Cisco.
The discussion centers on the revolutionary blend of blockchain technology and artificial intelligence (AI), with a particular focus on the promising attributes of Directed Acyclic Graphs (DAGs) like IOTA in fostering sustainability and efficiency in digital transactions and data management.
We are pleased to see Cisco writing about the convergence of #Blockchain and #AI and how DAGs like IOTA offer sustainability and efficiency. RWA's are certainly going to be a great leap forward with economics over the next two years. However, we will also see AI and Blockchain…
— Tangle Community Treasury 🏦 (@TangleTreasury) March 6, 2024
Sustainability in Blockchain with DAG Architecture
The convergence of blockchain and AI is not just a theoretical concept but is rapidly evolving into a tangible reality with profound implications for the global economy and societal structures. The TCT’s acknowledgment of this trend underscores the growing recognition of the transformative potential these technologies hold when synergized.
One of the core highlights of the Cisco article, co-authored by Mike Isaia, is the emphasis on sustainability and efficiency as foundational pillars of this technological convergence. Isaia eloquently articulates the advantages of employing a DAG architecture, as exemplified by IOTA.
Unlike traditional blockchain systems that rely heavily on mining—a process known for its substantial energy consumption and carbon footprint—DAG-based systems achieve consensus without this energy-intensive mechanism.
This attribute positions IOTA and similar technologies as sustainable alternatives that can significantly reduce the environmental impact associated with digital transactions.
Efficiency and Cost Reduction with IOTA
Moreover, the efficiency of IOTA’s blockchain transactions is noteworthy. Transactions on the IOTA network are settled within seconds and incur zero transaction fees. This paradigm shift eliminates the need for intermediary payment processors, thereby reducing transaction costs for all parties involved, from manufacturers to their partners.
Such efficiency not only streamlines operations but also democratizes access to digital transactions, making it a highly inclusive technology.
The Tangle Community Treasury’s strategic decisions, particularly the inclusion of Mike Isaia on the Board of Directors for Build.5, have been pivotal in catalyzing collaborative ventures that leverage these technological advancements.
Additionally, the IOTA Identity Framework is advancing the development of compliance-ready European Identity Wallets, providing a secure and decentralized solution for digital identity management, as previously reported by ETHNews.
Strategic Partnerships and Future Visions
Isaia’s insights and leadership have been instrumental in the TCT’s decision to fund and support the partnership between Soon Labs and Spyce.5, aiming to harness the full potential of AI and blockchain integration.
This partnership is not just a business move but a visionary step towards creating a global AI and blockchain solution built on the Tangle network. The Tangle network, known for its scalability and efficiency, offers a fertile ground for such ambitious projects that aim to revolutionize how we perceive and interact with digital systems.
The implications of this convergence are far-reaching. Beyond the technical efficiencies and sustainability benefits, the integration of AI and blockchain, especially within the framework of confidential computing and confidence fabrics, promises to elevate societal functionalities to unprecedented levels.
These technologies, when combined, offer robust solutions to longstanding challenges related to data security, privacy, and trust in digital transactions.
At the time of writing, the price of IOTA token had fallen 2.67% in the last 24 hours, fell to price of $0.3359. But, this represents an increase of 11.89% over the past 7 days.