The best money for AI is crypto – Cointelegraph Magazine

For every real blockchain project leveraging artificial intelligence to try to create a better world (such as Dr. Ben Goertzel’s Singularity.net), there are 100s of tokens like AI Doge that simply take the hyped term “ AI” and “cryptocurrency” come together to create a better world. Whip Tokens.

“These are just basic buzzwords,” explains Near Blockchain founder Illia Polosukhin, who worked on the groundbreaking “attention is all you need” research that spawned large-scale language models like ChatGPT and Claude.

As one of the few people in the world who is well-versed in both artificial intelligence and cryptocurrencies, Polosukhin said that if you ignore the hype, these technologies are indeed a good fit.

“There are a lot of specific things in AI and Web3 that can leverage or benefit each other,” he said.

The magazine interviewed Polosukhin, Framework Ventures founder Vance Spencer, MakerDAO founder Rune Christensen, Quantstamp’s Richard Ma, Casper’s Ralf Kubli and others to study some key and real-life aspects of artificial intelligence in the cryptocurrency and blockchain fields. , non-hype use cases.

Each day for the next week, we’ll be rolling out a real use case for artificial intelligence in crypto—including why you don’t necessarily believe the hype.

The best currency for artificial intelligence is cryptocurrency

Everyone in the circle of bosses Jeremy Allaire Former BitMEX CEO Arthur Hayes and Animoca Brand’s Yat Siu firmly believe that cryptocurrencies will become the currency of choice for artificial intelligence agents.

After all, LLMs can’t access bank accounts, but can easily make payments using funded crypto wallets, and they’re well-suited to interacting with the logic of smart contracts and DeFi protocols.

The person entrusting the funds in the wallet can set the overall strategy and rules, and then observe the performance of the artificial intelligence agent using transparent records on the blockchain.

Allaire said that artificial intelligence “is a natural match for blockchain” and that its technology is suitable for “machine-generated and executed contracts” and “machine-to-machine value exchange.”

totally agree. Artificial intelligence and blockchain are a natural match. Data sources, machine-generated and executed contracts, and machine-to-machine value exchange. We’ve already heard that AI bots are launching on-chain wallets and using USDC.

— Jeremy Allaire (@jerallaire) May 25, 2023

hayes believe Bitcoin is the most logical payment system for AI because it is “readily available, digital and fully automated” and enables AI to pay for “data and computing power – to ‘stay alive’”.

That said, Hayes also seems to believe that artificial intelligence will survive for trillions of years “until the heat death of the universe,” and therefore the LL.M. will choose Bitcoin because it can be mined by robots. So sometimes Hayes’ thoughts tend to stray from his train of thought.

Yat Siu, executive chairman and founder of Animoca Brands, is another high-profile industry figure who believes that cryptocurrency is the only logical way for artificial intelligence to “transact with each other as autonomous individuals in the future.”

“In the future, 70-80% of transactions will be conducted through autonomous artificial intelligence agents, and the decentralized nature of cryptocurrencies makes it a perfect match.”

But don’t take the puny humans’ word for it: ChatGPT has also chosen cryptocurrencies as its currency of choice without any push in that direction.

Trading bots capable of buying and selling cryptocurrencies already account for 80% of spot trading volume, and these existing automated bots are likely to be gradually replaced by smarter artificial intelligence agents. (But be aware that LLM-based trading experiments (such as Autopilot’s GPT portfolio) have had mixed results so far, so putting your money under the control of an AI will be a risk for some time proposal.)

Near DAO members are already experimenting with using artificial intelligence to determine whether a specific new project meets the relevant grant criteria to autonomously fund it from the Treasury.

How to add Bitcoin and cryptocurrency payments to an AI agent

Integrating crypto payments with artificial intelligence is certainly easy. Lightning Labs releases a set of developer tool Enables GPT-4 to buy, sell and hold Bitcoin using layer 2 networks.and artificial intelligence startups Few satellites An agent has been created that can pay Lightning Network invoices.

I don’t want to panic you, but my @OpenAI The agent just paid my LN invoice👀

first #ChatGPT spend #bitcoin ? pic.twitter.com/811JdtJ3iB

— Fewsats (@fewsats) November 14, 2023

Fetch.Ai also offers a service where you can create an AI agent that can make payments on your behalf.

Syndicate.io founder Ian Dao Lee recently wrote an article blog Describes in detail how he was able to Type out a GPT In just a few hours, using OpenAi’s API and Syndicate’s trading cloud, it was able to autonomously make USDC payments from a secure wallet on the Base network.

He’s excited about the possibilities it brings. “The ability of AI to buy, hold, exchange value, or create something of value on behalf of itself or others is how AI gains true agency,” he said.

“Not only when AI agents can transact on behalf of people, businesses, or other AI agents, but also when AI agents can manage things of value and transact on behalf of themselves, some of the most interesting ideas will emerge.”

Lee believes that in the future, AI agents will be able to autonomously shop, manage the finances of people and organizations, identify and issue funding approvals, or try to grow wealth to help others.

However, it turns out that the AI ​​is just as stingy as humans, donating only $3 to charity.

Don’t believe the hype

While artificial intelligence is currently making it easier to use cryptocurrencies, banks seem desire Artificial intelligence is employed for a variety of purposes and has been widely used to detect financial fraud.

Payment companies such as Blakes Work is underway to integrate AI with business bank accounts to allow AI agents to automate payments in specific situations, such as travel expenses.

A team of researchers recently released a preprint describing how they successfully trained a computer called MM Navigator Learn how to search for a specific product on Amazon and buy it within a certain budget.

Until crypto payments are more widely accepted, fiat currencies still have many advantages when dealing with real-world business.

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Andrew Fenton

Andrew Fenton lives in Melbourne and is a journalist and editor covering cryptocurrency and blockchain. He has been national entertainment writer for News Corp Australia, film reporter for SA Weekend and reporter for Melbourne Weekly.

Follow the author @AndrewFenton