Demystifying the link between VDAs and Blockchains :
Ram Rastogi
Digital Payments Strategist ; Real Time Payments -IMPS / UPI ; Financial Inclusion ; Reg Tech; Public Policy
Virtual Digital Assistants
Virtual Digital Assistants (VDAs), also known as virtual assistants or chatbots, are AI-powered software programs designed to interact with humans in a conversational manner. They can understand natural language, perform tasks, answer questions, and provide information or services. VDAs are commonly used in customer support, information retrieval, and process automation
Blockchains, on the other hand, are decentralized and distributed ledgers that record and verify transactions across multiple computers or nodes. They enable secure and transparent data storage and facilitate trustless interactions without the need for intermediaries. Blockchain technology has gained significant attention in various industries, including finance, supply chain management, and healthcare, due to its properties of immutability, transparency, and decentralization.
It is clear that?VDAs are fundamental to the functioning of any public blockchain. No transaction can be initiated on such blockchains without VDAs. At their core, VDAs enable the transfer of value digitally without the involvement of a third party, with assets native to the internet.
VDAs and blockchains can be connected using :
Smart Contracts
Decentralized Applications (DApps)
领英推荐
Data Verification and Transparency
Secure Data Storage: Blockchains offer secure and tamper-resistant data storage
Micropayments and Tokenization: Blockchain-based cryptocurrencies or tokens enable efficient and secure micropayments. VDAs can integrate with blockchain networks to facilitate microtransactions for services or content. This can be particularly useful in scenarios where VDAs provide premium services or access to exclusive content.
The true value of VDAs lies in their fundamental role in the functioning of public blockchains, as they create incentives for nodes and other network participants to engage with the blockchain. Factors that determine the underlying value of VDAs include their core characteristics, demand, supply, network effects, and utility. Scarcity, fungibility, durability, portability, security, decentralization, and programmability are essential features that determine the value of a VDA.
Additionally, the more developed the use cases and network effects of a particular blockchain, the more valuable its native token will be, prompting participants to bolster the robustness and value proposition of the blockchain.
Overall, the integration of VDAs and blockchains can enhance the capabilities and security of virtual assistants. By leveraging blockchain's decentralized and transparent nature, VDAs can provide users with reliable and trustworthy information, enable secure transactions, and streamline various processes.
General Manager at 3E-motion Ventures GmbH
1 年Blockchain will never be used in government advice because it doesn't forget anything.
Business Analyst/KYC/Quality/WFM/ EX HCL
1 年VDAs and blockchains can be linked to create synergies in various applications. By combining the strengths of VDAs in natural language processing and automation with the security and transparency of blockchains, innovative solutions can be developed to enhance user experiences, improve trust, and streamline processes in specific domains.