Saturday, May 5, 2018

Intelligent Smart Contracts (ISCs)

It is said that smart contracts are neither smart nor contracts. This is true to some extent, but smart contracts are and should be smart enough to do what they have been programmed to do, correctly and do it in a deterministic fashion. If contracts (business logic) are programmed within the smart contract and are enforceable, then they actually become contracts, just like real-life contracts enforceable by law. The issue, however, is that they are not really smart, or in other words intelligent.
I am proposing an idea to research building "Intelligent Smart Contracts (ISCs) " or "Smarter Contracts" or "Smart Intelligent Contracts (SICs)," which are genuinely smart and intelligent enough to learn and adapt themselves according to the external conditions and environment.
With the convergence of Artifical intelligence (AI) and machine learning with blockchain, this vision will become a reality. Soon this convergence will give rise to "Blockchain X.0"; the next generation of blockchains, where rational agents work for human beings and make intelligent decisions on behalf of humans in a truly decentralized environment.

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