BlockGPT: Decentralizing AI Chatbots and Token Rewards – Boon or Bane for Blockchain?

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The blockchain sector has recently welcomed the launch of BlockGPT, a Web3 company aiming to create a decentralized artificial intelligence (AI) chatbot and related ecosystem. Unveiled on May 11, this chat to earn service is reminiscent of OpenAI’s ChatGPT, aiming to strike a balance between cutting-edge AI technology and a tokenized reward system.

The launch of BlockGPT is accompanied by the introduction of two tokens: the governance token BGPT and a meme token called AIBGPT. Both tokens are reportedly built on PancakeSwap, a decentralized exchange that facilitates the trading of BEP-20 tokens. Users have the opportunity to earn non-fungible tokens (NFTs) and token prizes for engaging in chat sessions with the AI model, creating a chat to earn reward system.

The ambition behind BlockGPT lies in the development of more than six generative pre-trained transformer (GPT) models, trained using a proprietary dataset. While the white paper doesn’t divulge specifics such as the corpus size, it does highlight the model’s main focus: understanding and answering a wide range of questions related to blockchain technology.

Furthermore, the paper claims that the BlockGPT model will empower developers to enable on-chain AI inference via its AI Inference Engine. It also reveals the use of the Synapse engine for providing a reliable framework for building DApps and smart contracts leveraging AI technology.

Although the idea of incorporating AI and token systems in a decentralized chatbot is intriguing, the lack of clarity surrounding technical specifications may raise skepticism among some. Is BlockGPT’s launch merely jumping on the AI and meme token bandwagon, or does it genuinely offer a unique proposition?

This launch occurs amidst heightened activity in the AI and token sectors, where meme coins such as Dogecoin (DOGE) and Pepe (PEPE) have made headlines and the rivalry between chatbot offerings, including OpenAI’s ChatGPT and Google’s Bard, is attracting significant attention. With BlockGPT now on the scene, it will be interesting to see how this new player establishes its position in this rapidly evolving landscape.

Source: Cointelegraph

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