Integration of Blockchain Ledgers with AI and IoT Achieves Wonders in Forecasting, Including Weather Forecasting: Raj Chowdhury
The HashCash founder is bullish on blockchain’s potential to determine accurate future outcomes with AI and IoT sensors, even in weather forecasting.
PALO ALTO, California, 7 October 2022 /PRNewswire-PRWeb/ — A major reason behind the global buzz regarding blockchain technology is its valuable peer-to-peer approach to data sharing through decentralized ledgers. HashCash Consultants CEO Raj Chowdhury believes the scope is further and believes that blockchain combined with AI and IoT technology can accelerate futuristic decision-making with a higher degree of accuracy, and is used in weather forecasting.
The weather department collects large amounts of data to make forecasts about the current atmospheric conditions. This knowledge is then utilized by several businesses, especially agricultural and logistics shipping companies. Blockchain can be used to accumulate surface observations of weather-centric parameters such as atmospheric pressure, temperature, wind direction, humidity and more.
The HashCash CEO, also a noted blockchain pioneer, stated “Widespread deployment of IoT sensors has successfully established its applications across the weather departments, while AI/ML is being used for forecasting. The last thing that remains is to establish ‘trust’ in the accuracy of the data – which is something blockchain excels at with consensus protocols, immutability and transparency.”
The underlying technology behind cryptocurrencies is finding increased use outside of financial and supply chains. A decentralized blockchain ledger, which stores immutable records of transactions validated through consensus mechanisms, is distributed among all network node members, ensuring real-time transaction visibility. The architecture can thus be integrated across any business or area where accurate and secure documentation is prioritized while access is shared with other associated members.
“Reliable information has always been critical to success. The ongoing age of digital transformation may have revolutionized the way we collect data, but everything is left to chance without validation. This is precisely why every top organization in the world is already using blockchain.” concluded Chowdhury who had previously highlighted blockchain’s use in patent claim database management and airlines.
Led by Chowdhury, HashCash Consultants has won accolades worldwide in blockchain innovations. The top-rated blockchain development company has deployed globally recognized white-label enterprise solutions in more than 26 countries. HashCash has partnered with a Japanese automotive major to develop blockchain solutions for autonomous driving. The US-based firm has recently announced diversification plans, announcing a commitment to metaverse development over the next year.
Gartner predicts that blockchain will generate businesses worth 176 billion dollars by 2025, and further 3.1 trillion dollars by 2030. The technology, which is still in its infancy, has already been a game changer in the global industrial landscape by optimizing work processes that streamline operations, and eliminate intermediaries – maintaining trust and transparency across the ecosystem.
Raj Chowdhury is the CEO of HashCash Consultants and a Blockchain pioneer. Raj pioneered the first interbank trade finance and remittance implementation of blockchain technology between two of the largest global banks. Raj is a prominent voice in the Blockchain and Cryptocurrency space and actively engages with decision makers in this space. He is a contributor to the Economic Times, Business World and CNNMoney and advises industry leaders on the adoption of Blockchain. He is a member of Asha Silicon Valley, a non-profit organization committed to education for children in emerging countries. Author of the book ‘The Dark Secret of the Silicon Valley, Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community.
Media contact
COLEEN F, Hashcash Digest, +14159662907, [email protected]
SOURCE HashCash Consultants
