WASHINGTON: The intersection of artificial intelligence and cryptocurrencies presents a significant opportunity for entrepreneurs, including helping to prevent overreach described by critics of the technology, Coinbase Global, the largest U.S. digital asset exchange, said.
“As applications within AI and blockchain mature, the disruption these technologies present could lead to the emergence of new areas of cooperation and cryptocurrency use cases that can help address the specific societal challenges posed by AI. ,” said David Duong, head of research at Coinbase. In the investigative report dated June 1, he said:
However, there are still few crypto projects that directly develop AI models on the blockchain, apply AI to decentralized applications, or solve AI-related problems. According to data from research firm Messari, the market capitalization of cryptocurrency projects directly involved in AI is about 0.07% of the cryptocurrency market capitalization of $772 million. According to the report, the majority of crypto assets are destined for Bitcoin, smart contract platforms and stablecoins.
Tokens classified in the AI category by crypto data platform CoinGecko have seen massive inflows this year as ChatGPT became one of the fastest applications and its owner, OpenAI, attracted billions of dollars in investment. seen.
Duong listed various potential use cases for combining both technologies. For example, a decentralized data marketplace can help generative AI meet the demand for diverse, validated data sets for training models. Token-based incentive mechanisms could improve the quality of data obtained from these markets, according to the report.
Other use cases, according to the report, include providing computational power from distributed networks that use graphics processing units to train models for AI projects, improving data reliability, and opaque decision-making for AI algorithms. For example, improving the auditability of processes.
