Decentralized Infrastructure & AI: The Power Duo Poised to Revolutionize Industries by 2024
Summary:
In 2023, decentralized physical infrastructure networks (DePINs), which merge blockchain technology with real-world infrastructure, started finding favor with global manufacturers. As per the data from Messari, the DePIN market is valued at about $2.2 trillion, likely to reach $3.5 trillion within the next four years. Advances in DePIN technology have been seen in the Peaq blockchain network's Tesla tokenization and Bosch's EU collaboration for a decentralized IoT. Experts assert that the DePIN industry's growth is highly linked with the AI boom and expect 2024 to bring significant changes in managing and interacting with AI-powered machinery. Thus, DePIN and AI are envisioned to be a dynamic combination capable of maximizing sectors like healthcare, finance, manufacturing, and entertainment.
The year 2023 marked the rise of decentralized physical infrastructure networks (DePINs), as key manufacturers globally began integrating blockchain technology with real-world infrastructure. DePINs are blockchain processes incentivizing the establishment and running of physical infrastructure on a decentralized level, using digital tokens. Linked increasingly to the Internet of Things (IoT), DePINs' market valuation (according to digital asset intelligence enterprise Messari) stands close to $2.2 trillion. There's potential for an increase to roughly $3.5 trillion in the next four years. Such technology has propelled advancements like the tokenization of a Tesla fleet via Peaq blockchain network or Bosch's collaboration with the European Union to establish a decentralized IoT using DePINs. Some even suggest DePIN technology could be the decade's most significant cryptocurrency investment. But as AI saw vast development and integration in the past year, questions regarding these two technologies' compatibility arise. Peaq network CEO, Leonard Dorlöchter, foresees a DePIN industry flowering in 2024, which he believes is intrinsically tied to AI's surge. Dorlöchter explains how AI allows machines to operate as autonomous economic contributors, creating concrete value. DePINs provide an ownership and distribution model for this, allowing AI device owners to monetize their functions. He perceives the DePIN and AI cooperation as a "perfect union," with 2024 being the year of transformation in how we engage and manage AI-powered machinery. DAO Maker's Chief Marketing Officer, Hatu Sheikh, also sees DePIN and AI as the "perfect pair" for 2024, as they augment each other to the highest efficiency. He stressed that DePINs have surfaced as a revolutionary solution that addresses existing shortcomings of traditional centralized computing models, providing secure scalability. Sheikh explained that the enhanced computational power permitted by DePINs will be beneficial to AI algorithms that require high amounts of power. He envisions a robust AI made even stronger by such amplification having the capacity to reshape every industry and service segment, including healthcare, finance, manufacturing, and entertainment.
Published At
1/5/2024 3:07:33 PM
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