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Blockchain's Growing Influence on TradFi and AI

The Daily Leo #577

Creativevoice [Uyobong]

Oct 24

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Welcome to The Daily InLeo! We pull the best articles in Finances, Crypto news, and Hive/Leo into one condensed information-packed space.
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Blockchain's Growing Influence on TradFi and AI

In recent years, blockchain technology has moved beyond its early association with cryptocurrencies to become a transformative force across various industries. Traditional finance (TradFi) and artificial intelligence (AI) are two sectors where blockchain's impact is particularly pronounced with offers of enhanced security, transparency, and decentralization. With this, blockchain is reshaping the way financial systems operate while also driving innovation in AI applications. This convergence is creating new possibilities for more secure, efficient, and autonomous financial ecosystems, and is pointing to a new era in technology and finance. This compilation explores recent integrations of blockchain technology in the finance sector, AI and other tech developments. The featured articles are worth your reading time.

Chainlink Partners with Swift to Launch Blockchain Payments for TradFi

Sergey Nazarov, co-founder of Chainlink, has unveiled an innovative payment protocol designed in collaboration with Swift, the global financial messaging network to bridge traditional finance (TradFi) with decentralized finance (DeFi) using blockchain technology. This development was revealed during the Chainlink SmartCon event. This integration simplifies digital asset settlement while maintaining compatibility with traditional systems. Chainlink’s Blockchain Privacy Manager also enables institutions to protect sensitive data during blockchain transactions. The Chainlink-Swift partnership shows how the convergence between DeFi and TradFi can better financial services and products for the teaming users. The partnership is pivotal in the ongoing evolution of blockchain in the financial sector.

Sensei to expand its Contactless Store Platform in Europe

Sensei, a Portuguese startup plans to expand its Contactless Store Platform in Europe with a $16 million investment. The aim is to develop and implement technology for automated contactless stores in the retail sector, compete with market giants like Amazon, and secure funding for research and development. Sensei utilizes artificial vision, sensors guided by artificial intelligence, and a payment system to automate the shopping process without human intervention. The technology allows for tracking items added to the cart and generating a total payment upon exiting the store. By 2026, Sensei aims to have 1,000 automated points of sale.

Hello [AI]: Brainstorming AI-Driven Web3

Recently, AI and blockchain leaders gathered at the Token2049 event in Singapore to explore the convergence of these technologies in a side event called "Hello [AI]." Discussions covered AI-enhanced blockchain ecosystem, the convergence of AI and blockchain technologies, AI-powered blockchain applications, decentralized AI systems, challenges and advantages of combining AI and blockchain, and the potential of AI in revolutionizing Web3 space. The advantages of combining AI and blockchain, addressing challenges of interoperability and AI hallucinations, showcasing real-world applications, involving industry leaders and tech firms, and emphasizing the potential of AI in revolutionizing Web3 space were also covered.

Microsoft And Salesforce to Replace Human Jobs With AI

Microsoft and Salesforce are competing to create AI Agents for businesses to replace human jobs. Microsoft introduced Copilot Studio during their "AI Tour" event in London, while Salesforce introduced Agentforce. Microsoft's announcement came a month after Salesforce introduced its solution. By developing AI-powered Virtual Assistants that can perform tasks like Customer Support for businesses using their data. This rivalry is expected to drive the development of new technologies and potentially bring in billions of dollars in revenue. Are you ready for the next turn of events?

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