Crypto is the only form of money that artificial intelligence (AI) systems can incorporate, Erik Voorhees, in a recent tweet, has claimed. Voorhees, a libertarian advocating for less regulation in the crypto industry, opined that AI systems could easily control and utilize digital assets. Voorhees is the founder of ShapeShift, a community-owned crypto trading platform.
The digital nature of crypto and AI systems is an advantage developers can leverage to ensure seamless collaboration between solutions depending on the above technologies. However, a distinct advantage of crypto is its programmability. Tokens like Ethereum (ETH) or Solana (SOL) are programmable, powering smart contracting platforms where self-automating codes have proven to be a game-changer in recent years. This feature means AI systems can easily interact with these currencies, executing orders as directed. Moreover, considering the borderless nature of cryptocurrencies, AI systems can be further coded to use digital assets like bitcoin (BTC) to instantly spend, receive, or even accumulate funds, depending on how it is designed.
Others opine that advanced AI systems would have far more influence than as it is. Their capability would be extended further once AI networks are empowered to create their private keys and self-program, giving them “economic weight” just like ordinary people.
With these enhancements and factoring in cryptocurrencies’ digital existence, AI networks would not only spend but can possibly control people. Some worry that, at this stage, if there are no checks and balances, AI systems being “far more efficient than humans” can scam people or steal cryptocurrencies from others. Technology giants like Google and Microsoft have been racing to release the most capable system in recent months. Currently, ChatGPT, a generative AI, has shown its usefulness with powers, for instance, to self-create code, helping accelerate learning.
Nonetheless, there are concerns that AI systems have been used for censorship. Elon Musk, the owner of Twitter and a Dogecoin (DOGE) supporter, said he is joining the AI race and will release “Truth GPT”. The general AI platform, he explained, will be a “maximum truth-seeking AI that tries to understand the nature of the universe.”
It was later reported that Musk had bought 10,000 GPUs to kick-start the project. Earlier, Musk expressed caution about rapid AI development, alleging that popular chatbots, including ChatGPT, were being trained to be “politically correct”. He even signed an open letter calling for a six-month pause of any AI development more powerful than ChatGPT 4.
In conclusion, the fusion of AI and cryptocurrencies could lead to seamless collaboration, making financial transactions more efficient. However, the looming threat of scams, control, and potential misuse of AI remains a topic of debate among enthusiasts and skeptics alike. Understanding the risks, regulating the industry, and implementing checks and balances will help ensure that the AI-crypto partnership is harnessed for the greater good.