AIBC Summit Malta – Autumn Edition: Day 2

AIBC Summit Malta – Autumn Edition: Day 2

Ready to join our tribe?

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

After what was undoubtedly a fantastic first day from the third edition of the AIBC Summit in Malta, our team at Cryptimi was all geared up for yet another eventful and insightful day. Just like the first day, we were literally spoilt for choice. So, we huddled up and came up with a practical game plan of what we should do before starting our next networking session.

Day 1 proved to be extremely informative and super interesting, but we didn’t expect anything less, what with the abundant workshops and presentations by speakers hailing from all parts of the world. Day 2 seemed to present an equally great selection of speakers who were there to share their pearls of wisdom.

Inspired by the ending from yesterday’s AI & BC for Education and Mass Adoption workshop, we thought it was apt to understand how this technologically advanced sector can contribute to the earth’s future for energy consumption.

Therefore, the apt choice was to head straight to the AI & BC for Energy workshop. So many interesting and plausible factors were discussed, that it’s almost difficult to highlight aspects which are noteworthy – because everything is worth mentioning in its own right.

From energy tokenization to energy data provenance, and from peer-to-peer energy trading models to renewable investments – such initiatives were put forward. It’s really no surprise, since we’re currently living in a world in which global warming, or the more ‘revamped’ term Climate Emergency is the main topic of everyone’s conversation. And rightly so, because we’re no longer blissfully ignorant about how precious saving the earth’s resources is, both for ourselves and our future generations and the generations that follows.

We can all benefit from the positive impact blockchain will have on the energy industry – whether a company or household. All there needs to be is a willingness to understand its potential.

Indubitably, we have entered a new age — the age of information, or what technophiles might call ‘big data’. Humankind is creating and consuming more and more data with each passing year. This data is not only becoming valuable in huge proportions, but increasingly more energy-intensive. This is where the importance to switching to renewable energy sources like wind and solar comes in. However, to truly tackle the issue, consumption needs to be reduced through technological innovation.

Granted, while this technology still has a long way to go before people welcome it with open arms, its infancy doesn’t deny the fact that AI could help to rapidly accelerate advancements. Take Google as an example: it has already proved the benefits of AI technology to reduce the cost of cooling at its datacentres by 40%. Scientists are now hopeful that such developments can help reverse the effects of climate change before it’s too late.

In this workshop, one of the speakers, Matthew Kaye, presented his thesis entitled How P2P Energy Grids are The Future of Renewables.

Modern power grids gather energy from multiple energy sources, including wind, solar, and coal. Over time, operating and managing huge power grids systems has become more complex. By means of AI efficiency, stability to these energy sources is increased thanks to its ability of analysing large datasets in a short period of time. This has led to the development of smart grids, which are designed to handle multiple energy sources (both conventional gas and renewables) in an efficient manner.

Then there’s the notion of Blockchain in energy trading using P2P and AI technologies. Blockchain technology with its safely distributed accounting system. This is a solid method of recording data through a digital ledger of economic transactions, agreements and contracts.

Of course, another fascinating talk, was the one given by Assaf Ben Or, who discussed Incentivizing Renewable Energy Using Blockchain. He discussed energy efficiency and changing people’s mindsets to help adopt energy saving and ‘greener’ behaviours in our daily routine.

This could be achieved with machine learning algorithms and blockchain, under a peer-to-peer energy trading platform. As a result, it will enable the increase of inter-connected microgrids enhanced to handle the renewable energy production to sell anything excess directly to their neighbours.

In layman’s terms, such renewable energy will be beneficial in a multitude of ways. Apart from being a more transparent, democratic and conscious use of energy, it also helps households become greener and more economical. Additionally, green energy won’t only be promoted but adopted within households, and thanks to the technology, be far more accessible to everyone.

The idea that AI and BC is very affordable and possible may not sound realistic to many, but this summit has taught us that it truly is. If a company has an innovative team, the vision can be turned into a reality. Indeed, this is what multi-award winning superstar, entrepreneur and philanthropist Akon (who, in case you missed it – was one of the main speakers in this summit) wanted to express.

But fret not… we’ll fill you in on our exclusive interview with him very soon. In the meantime, we’re off to get ready for the AIBC’s Closing Night Party at Sky Club, where Akon will be performing live!

Recently Similar News

Latest Guides

Latest News

Blockchain,Changelly,Cryptocurrency,Exchange Platforms

Changelly Adds Ardor, Ignis, and NXT to Changelly PRO

Changelly, the online cryptocurrency exchanges, has added three more tradable assets to their Changelly PRO platform. Changelly, the large online crypto exchange, has recently added an additional three cryptocurrencies to their Changelly PRO platform, Ardor, Ignis, and NXT. All three tokens developed by Jelurida will be tradable against BTC as ARDR/BTC, IGNIS/BTC, and NXT/BTC. Jelurida […]

6 November, 2020
Crypto Wallets,Exchange Platforms,Kraken,Ledger

Ledger Phishing Scam is Targeting Crypto Wallet Users

Ledger, the cryptocurrency wallet company, has been massively affected by a data breach and phishing scam. Ledger, the world renowned cryptocurrency hardware wallet producer, is facing a lot of problems with a data breach that is being used to target their customers. Kraken Intelligence, the intelligence arm of the Kraken cryptocurrency exchange, analyzes this data […]

5 November, 2020
Bitcoin,Blockchain,Cryptocurrency,Ethereum

Ethereum on Track to be First Blockchain To Process $1 Trillion In Yearly Transactions

Ethereum, the second largest cryptocurrency by market cap, is preparing to break the $1 trillion mark in yearly processing. Ethererum, the largest cryptocurrency behind Bitcoin, is on track to be the first blockchain to process over $1 trillion in transactions in a single year. Currently, the Ethereum network is processing more than double the amount […]

4 November, 2020
Binance,Blockchain,Cryptocurrency,Exchange Platforms

Binance is Giving Away $20,000 in Fifth Learn and Earn Series

Binance, the largest online cryptocurrency exchange, is hosting its fifth learn and earn series, this time with Orion Protocol. Binance, the worlds largest cryptocurrency exchange, will be hosting their 5th Learn and Earn campaign in collaboration with the Orion Protocol. In this campaign, Binance will be giving away $20,000 worth of ORN, the native cryptocurrency […]

3 November, 2020
Bitcoin,Blockchain,Cryptocurrency,Exchange Platforms

Bitcoin Monthly Prices Finishes at Second All-Time High

At the end of October, Bitcoin has registered its second highest closing price of all time. Bitcoin bulls continue to rejoice as Bitcoin closes at its second highest monthly price in the history of the digital currency. Bitcoin closed October with a price hovering right around $13,800, the second highest monthly price finish besides the […]

2 November, 2020
Cryptocurrency,Exchange Platforms

Cryptimi Announces Launch of Additional Platform for German Speaking Users

 At Cryptimi, we have announced the launch of our newest news platform in one of the largest languages globally, German. We are very pleased to announce the release of our world class Cryptimi platform in German! Now, all german speakers will be able to access all of the traditional media and features they would receive […]

27 October, 2020
Binance,Blockchain,CoinMarketCap,Cryptocurrency

CoinMarketCap Launches Latest Earn Campaign With Helium

CoinMarketCap, the largest online market cap aggregator, has launched their latest Learn and Earn campaign with Helium. CoinMarketCap has launched their latest iteration of their Learn and Earn program in partnership with Helium. Learn and Earn is a program launched by CoinMarketCap that allows cryptocurrency users to learn about new cryptocurrencies and earn some of […]

25 October, 2020
Binance,Bitcoin,Cryptocurrency,Exchange Platforms

You Can Now Spend BNB and BUSD With All Shopify Merchants

Shopify, the all-in-one online commerce website, now allows all of its merchants to accept Binance’s tokens BNB and BUSD via Alchemy Pay. Alchemy Pay, a worldwide cryptocurrency payment solution provider has worked with Binance and Shopify to integrate BNB and BUSD for payments to all Shopify merchants. Shopify is the worlds largest e-commerce platform with […]

23 October, 2020