Blockchain Analytics AI Startup Raises Privacy Concerns: Forbes By CoinEdition

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  • Forbes announced it is using AI and NLP tools to scrutinize financial data and amplify privacy concerns.
  • AI chatbots and NLP technologies simplify blockchain tracking but increase the risk of exposure.
  • Shielded transactions are essential for protecting personal information and prioritizing privacy on the blockchain.

Forbes recently released a report discussing the use of artificial intelligence and natural language processing to scrutinize large amounts of financial information, amplifying the urgency of privacy concerns.

The article mentions that AI startups such as Blocktrace, Arkham, and Nansen are developing blockchain analysis tools, with Blocktrace’s AI chatbot Robby the Robot being a notable example. Users can ask questions in natural language and receive answers based on Bitcoin blockchain data.

Additionally, startups are adopting AI chatbots and NLP technologies to simplify blockchain transaction tracking and analysis, but the widespread availability of these services increases the risk of exposing user information. To protect privacy, shielded transactions should be prioritized in this evolving landscape, as demonstrated by the Venmo transaction, which is publicly searchable via AI.

Additionally, the popularity of AI-based cryptocurrency projects such as The Graph, Numerai,, SingularityNet and Vectorspace AI is skyrocketing in 2023, recognizing potential synergies between AI and blockchain technology. indicates that there is

However, this area of ​​opportunity also carries risks. The cryptocurrency community should prioritize best practices for protecting personal information in an interconnected digital world where generative AI tools such as ChatGPT are becoming increasingly common.

The document further highlights concerns about the privacy of personal information in the crypto space due to the rise of blockchain analytics startups using AI-driven tools. , shielded transactions should be preferred.

Additionally, AI tools can easily combine public blockchain data with sensitive public data collection sites to expose private information and potentially lead to dangerous situations, so individuals are responsible for their own digital safety. must bear. There is an urgent need for privacy tools to avoid such consequences.

Finally, the potential for misuse and misuse of personal information in the blockchain and cryptocurrency space is increasing as AI-driven analytical tools become available to the public. Shielded transactions, like those used by Zcash and Monero, offer a solution to privacy concerns around blockchain analytics.

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By prioritizing privacy and offering shielded transactions as a standard feature, you can protect your users’ private information while maintaining transparency and accountability. Developers and policy makers should continue to explore the impact of AI-driven analytics tools on privacy in order to foster a secure and privacy-centric crypto ecosystem.

Post Blockchain analytics AI startup raises privacy concerns: Forbes first appeared in Coin Edition.

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