Discussing the real-world use cases of Oraichain’s AI Oracle

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Oraichain

5 min readMay 10, 2021

Oraichain’s AI Oracle is the gateway to incorporate machine learning functionalities into smart contracts. Unlike any AI solutions that process data in a centralized way, Oraichain secures the operation of AI models on-chain and verifies the quality of AI models based on its unique test case logic. With AI Oracle, Oraichain will truly mark the end of the ‘read-only’ era of Blockchain and finally unlock an unlimited range of applicability.

AI for Blockchain

Artificial Intelligence can empower blockchain technology in many real-world scenarios. Blockchain technology secures the decentralized storage of information, provides fast transactions and trustful contracts, whereas AI provides intelligent algorithms to process the information, recognize common patterns, and predict potential future events.

Let’s look at some promising use cases:

1. Decentralized Finance

“Automated strategies to farm and trade”

AI models can not only learn patterns from past data to predict returns and minimize risk but also eliminate human error and psychological factors in investment and trading practices. Additionally, the responsiveness of AI models can provide 24/7 coverage with frequent performance upgrades. With permanent and transparent logs of deployed strategies and outcomes on blockchains, customer trust is greatly enhanced.

2. Big Data and IoT

“Empowering data economy on blockchain”

AI models greatly benefit from the large amounts of data generated by the Internet and IoT. Both on-chain and off-chain, AI models receive the data to analyze, recognize patterns, and support decision making. Consequently, decentralization can enhance anomaly detection, failure point detection, object network analysis, flow recognition, privacy infringement detection, integrated analysis, and more.

3. Enterprise and Manufacturing

“AI to level smarter manufacturing”

Database administrators can use Oraichain to standardize deployment of integrity constraints to produce more structured data schema with Blockchain and utilize AI models to increase efficiency, automatically monitor manufacturing, and detect defects. Real-time sharing data with untampered maintenance will significantly reduce managing costs and even generate revenue via log data monetization.

4. Security

“One Person, one Identity”

Accessing cryptocurrency wallets by private key exclusively has inherent risks, ie. stolen or lost passwords. AI can provide many advanced recognition and authentication methods. Connecting multiple points of identification and biometrics (face, fingerprint, finger vein, retina and iris or voice) will increase accessibility, protection, and prevent theft. One person, one Identity. Moreover, AI can analyze behavior logging, trading patterns and browsing history to create an individual’s crypto profile, allowing users to always know which information is used where and when, protected by the certainty of blockchain.

5. Healthcare

“AI + Blockchain as tools to improve healthcare”

AI will be the gatekeeper to a universal database of healthcare information on blockchains, granting & monitoring access, and effective use of information. With comprehensive patient history and a network of medical practitioners, AI can accelerate treatment workflows and improve patient experience by predicting diagnosis, treatment, prognosis, and outcome.

6. Academia

“AI that personalizes and Blockchain that secures”

AI models can help build personalized curriculum, transform content making, flag potential plagiarism, and enhance the peer review process. By securing transcripts, degrees, and achievements across many blockchains, AI can give students a smoother transition from university to the job market.

7. NFT

“Solving the origin problem”

Use AI models to simply create artwork, guarantee uniqueness and originality of digital assets, and directly issue copyright on blockchains. With Oraichain, both content creators and AI providers receive royalties for their work, ensuring both the artists and the tool-makers are rewarded for their contribution.

8. Insurance

“AI derived insurance strategies”

Leveraging big data from both on-chain and off-chain sources, AI will help create insurance profiles that can be used to validate qualification, screen for fraud, and predict payout. AI models can even help traditional insurance companies in policymaking and rebate timing.

9. Global Logistics

“A portal between worlds”

AI models will optimize delivery routes, productivity, and improve safety. Decentralization to standardize communication of data between parties. With blockchain and AI, latency caused by third-party providers can be removed to build a more trustful and efficient logistical system.

10. Job Market

“Automated screening and recommendation”

Blockchain helps store individual identities while AI improves the hiring process with automated screening tests and proficiency evaluation sheets in order to find the best candidates for the job market. With AI and Blockchain, employers ensure that the right person is working the right job for them, without bias and discrimination, while the job market becomes more transparent and equitable.

Building Infrastructure and Ecosystems

The very first use-cases for DeFi and NFT Market demonstrate the realization of AI Oracle concept and actual implementation are coming this May: AI-based yield farming on yAI Finance and aiRight.

Noticeably, all above described use-cases only exhibit a fraction of the AI Oracle’s potential and while Oraichain is hard at work delivering groundbreaking applications to bridge machine learning and blockchain, future innovations will entirely depend on the creativity of the community.

To assist in the creation of AI-based DApps, Oraichain has enthusiastically been building a stable infrastructure and strong ecosystems to provide developers all the tools they need to deploy, test, and edit enhanced smart contracts. Our team has already configured 100+ AI APIs, opening the door for a wide range of functionalities. These APIs can be easily integrated into smart contracts via Oraichain Studio, a developers hub for the Oraichain Mainnet and in the short future, for all Cosmos-based blockchains.

The possibilities are endless, but awareness alone will not bring advancement and will indeed require the contribution of many partners and individuals. Each and every use-case is unique. Deploying AI models on-chain creates the demand for streamlined data organization processes, aiding in the creation of new and unique AI APIs specifics to the needs of your business. For this purpose, Oraichain is quickly developing a comprehensive ecosystem of AI services that includes: AI Marketplace, Data Hub, Labeling Hub, Request Hub, Publisher Service, and Dapp Hosting.

Bringing AI functionality to blockchain applications is only a part of our mission. Stay tuned for further discussion on how blockchain technology can help build better AI services!

About Oraichain

Oraichain is the world’s first AI-powered oracle and ecosystem for blockchains. Oraichain data oracle platform aggregates and connects Artificial Intelligence APIs to smart contracts and regular applications. Founded by Dr. Chung Dao, Oraichain’s mission is to be the portal between AI and blockchain technologies, serving as a foundational layer for the creation of a new generation of smart contracts and Dapps leveraging AI.

Unlike regular oracles using raw data, Oraichain’s AI oracle uniquely uses AI APIs to process and create data on-the-fly via virtual machines on smart contracts. Data quality, reliability and security are enhanced by using test cases, which help to avoid intermediaries, increase trust and open up unprecedented application functionalities.

Beyond data oracles, Oraichain interconnects Artificial Intelligence and Blockchain technologies. With AI as the cornerstone, the Oraichain ecosystem contains an AI marketplace, a Data & Request Hub, Publisher Service, Training Service, and Dapp Hosting.

Oraichain network provides the infrastructure and consensus mechanisms for Blockchain and AI training. These interconnected ecosystems accelerate the development of Web3, DeFi, enterprise and academia applications. yAI.finance is the first use case of Oraichain, a DeFi platform using unique AI-based features and strategies. aiRight brings AI NFT creation and copyright generation to blockchain. Oraichain AI Marketplace offers AI products and APIs with the goal of becoming the one-stop-shop for Artificial Intelligence services.