Some trends within the blockchain world are now widely considered “new” or “innovative”. This doesn’t mean they haven’t been tried before, but they are trying to take off now.

We’re talking about new consensus algorithms like DPoS, new cryptography methods like zero-knowledge proofs, new privacy-enabling technologies like ZK-snarks, and new scaling techniques like sharding.

They’re highly technical, complex, hard to understand concepts, and often difficult to implement. Machine learning and artificial intelligence (AI) can also take blockchain and cryptocurrencies into the future.

1. AI Revolutionizes Cybersecurity

The more complex our technology becomes, the more vulnerable it gets. Threats are getting more sophisticated, and as predicted, by 2020, we already have 20 billion connected devices available to be hacked. Cyber-criminals are glad because more devices mean more opportunities to steal information.

Luckily, AI can be a powerful weapon against cyber-crime, as machine learning algorithms can detect threats and respond accordingly. They can protect us from the latest threats out there.

2. AI Is The Future Of Smart Contracts

In a few months from now, everything will be smart and automated. This is why we’re bringing you these 3 simple facts: 1) cryptocurrencies are going to explode within the next years 2) machine learning algorithms allow a computer to learn how to do difficult tasks without explicit programming 3) it’s capable of processing large amounts of information.

Although smart contracts are increasingly becoming common, they’re still considered complex to implement and configure. That’s why AI may be the answer. With an intelligent contract platform, developers can create a variety of pre-programmed conditions that the self-autonomous smart contract will follow.

3. AI Is A New Standard For Efficient Computing

Do you know how sometimes you need to run multiple operations at once? You do them sequentially, one after another. But with the use of Artificial Intelligence, you don’t have to wait for a result from one operation to start another.

You can run them simultaneously— concurrently without waiting for the completion of another task. This saves time and energy while allowing you to focus on what’s important — getting the job done.

4. AI Outperforms Humans At Complex Decision-Making

Complex decisions require multiple pieces of information, which you then have to aggregate into one final answer. Humans aren’t excellent at this task — we’re too biased by our personal beliefs and experience to make an objective assessment. On the other hand, AI can look at all possible variables without bias efficiently and make the best possible decision.

5. AI Enhances Security And Privacy

Machine learning keeps us safe from cyber-attacks — but it’s not just about detection — AI algorithms can also respond to them. Because we know that private information should always be kept confidential, AI also ensures encryption of data and access only to authorized parties.

6. AI Is Essential For Future Blockchain Development

As we’ve seen before, blockchain technology is getting more complex with time — the new scaling solutions are just one example of this trend. If we want this technology to go anywhere, it has to evolve. And with AI on our side, we’re more likely to find those solutions faster. And who knows, maybe AI will itself prove to be a solution for many of the issues that blockchain faces today.


AI is the future of blockchain development; it makes cyber-security stronger and more efficiently supports advanced computation by allowing multiple tasks to be completed in parallel. Furthermore, it enhances privacy and is necessary for blockchain development.

Today, mobile users have a plethora of banking apps to choose from that can perform most, if not all, of the tasks they need.

The current banking industry has been running for centuries with many institutes that already have their audience and reputation. Many such banks have increased the security levels around their apps, making it hard to compete against established players. And yet, payment apps are still limited in their capabilities.

This article will discuss some of these main challenges that peer-to-peer payment apps face today and address them.

Peer To Peer Payment- History And Development:

The history of P2P payment in banking goes back hundreds of years thanks to the existence of cash. Cash as a currency is effortless; anyone can use it, and physical notes are much harder to steal than digital data. National currencies have been present for centuries– having one allows people to store money in banks or invest it in the economy.

As money gradually evolved from physical to digital, the usual form of payment shifted to credit or debit cards, as they are straightforward and widespread. However, banks have never allowed users to make direct payments amongst each other with their platforms. This was left for third-party services like PayPal or Venmo, which have revolutionized the way we make transactions today.

A Robust Peer-to-Peer Payment System:

A P2P payment system is an app that allows users to send and receive money directly from one another without a third party. The features of P2P payment apps are usually limited to paying and requesting money and adding or withdrawing funds into the store wallet. The cost of each transaction depends on its size or amount.

P2P payment apps usually have low-security standards as they only include a limited number of features. Users can add funds to their store wallet with either credit cards, debit cards, or bank accounts. 

However, the main problem with P2P payment apps is that security is not considered important enough during the development process because it does not directly impact the end-user.

Blockchain-Based P2P Payment App:

A blockchain-based P2P payment app would require the services of a multidisciplinary team of software engineers with extensive experience in the cryptocurrency sector. When creating such an app, the first step is establishing a secure system for storing fiat currencies into wallets and making them easily transferable between users.

Tokens can then be used for the actual transactions that take place on the blockchain. In addition, users can store tokens in their wallets and make fast, free, and secure payments to their friends or family members without relying on third parties like banks. 

The security of such a payment system would be easy to implement as there are already proven models available. Still, more research is necessary before creating an app that serves this purpose.

The next step would be to create a P2P payment system for cryptocurrencies, which is much more challenging to pull off and requires the expertise of highly experienced developers. Since no token can be used in this payment system, some stable currency needs to represent all types of cryptocurrencies.

The stable currency would have to be backed by a reserve of cryptocurrencies that can be easily purchased in case the value of the regular currency decreases significantly. This approach is already used in financial markets where currencies like Dollars or Euros are backed by Gold and other valuable metals. Still, people need to understand why it’s necessary before implementing it.

Furthermore, the P2P payment app is expected to be released sometime next year. It would show people how blockchain technology can benefit them instead of harming their reputation. At the same time, the lack of regulation in crypto markets has led some countries to ban these types of apps, slowing down their actual development.


Blockchain-based P2P payment apps are expected to disrupt the banking industry by offering users a way to transfer money between one another securely and quickly. The developers will have to create and implement different technological solutions for each part of the P2P payment app:

  • Wallet for storing fiat currencies;
  • Token system for making peer-to-peer transactions;
  • Stable currency backed by cryptocurrencies.

This approach will show people how safe and efficient these types of apps can be in real life compared to their alternative—national currencies— while changing current perceptions about blockchain technology.