{"id":1440832,"date":"2023-11-27T19:45:00","date_gmt":"2023-11-28T00:45:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1440832"},"modified":"2023-11-27T19:45:00","modified_gmt":"2023-11-28T00:45:00","slug":"the-best-money-for-ai-is-crypto","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/the-best-money-for-ai-is-crypto\/1440832\/","title":{"rendered":"The Best Money For AI Is Crypto"},"content":{"rendered":"

The Best Money For AI Is Crypto<\/span><\/p>\n

\n

Authored by Andrew Fenton via CoinTelegraph.com,<\/em><\/a><\/p>\n

For every genuine blockchain project harnessing artificial intelligence in an attempt to create a better world \u2014 like\u00a0Dr Ben Goertzel\u2019s Singularity.net\u00a0<\/a>\u2014 there are 100 coins like AI Doge that have simply wedged the hyped-up terms \u201cAI\u201d and \u201cCrypto\u201d together to flog tokens.<\/em><\/strong><\/p>\n

\u201cThose are just fundamental buzzwords,\u201d explains Near blockchain founder Illia Polosukhin, who worked on the groundbreaking \u201cAttention Is All You Need\u201d research that led to large language models like ChatGPT and Claude.<\/em><\/p>\n

As one of the few people in the world who are as well versed in AI as they are in crypto, Polosukhin says that if you ignore the hype, the technologies really are a good fit.<\/p>\n

\u201cThere\u2019s a lot of specific things\u00a0both in AI and Web3<\/a>\u00a0that can use each other or benefit each other,\u201d <\/strong><\/em>he says.<\/p>\n

Magazine spoke with Polosukhin, Framework Ventures founder Vance Spencer, MakerDAO founder Rune Christensen, Richard Ma from Quantstamp, Ralf Kubli from Casper and others to examine some of the key hype-free, genuine use cases for AI in crypto and blockchain.<\/p>\n

Over the next week, we\u2019re rolling out one genuine use case for\u00a0AI<\/a>\u00a0in crypto each day \u2014 including reasons why you shouldn\u2019t necessarily believe the hype.<\/em><\/p>\n

<\/a><\/p>\n

The best money for AI is crypto<\/strong><\/h2>\n

Everyone from Circle boss\u00a0Jeremy Allaire<\/a>\u00a0to former BitMEX CEO Arthur Hayes to Animoca Brand\u2019s Yat Siu is convinced that crypto will be the currency of choice for AI agents.<\/strong><\/p>\n

After all,\u00a0LLMs<\/a>\u00a0are unable to get access to bank accounts but can easily make payments using a funded crypto wallet, and they\u2019re well suited to interacting with the logic of smart contracts and DeFi protocols.<\/p>\n

The humans delegating the funds in the wallet can set the overarching strategies and rules, and then observe how the AI agent has performed using the transparent record on the blockchain.<\/p>\n

Allaire says that AI \u201cand blockchains are made for each other,\u201d with the tech suited to \u201cmachine-generated and enforced contracts\u201d and \u201cmachine-to-machine value exchange.\u201d<\/strong><\/p>\n

Completely agree. AI and Blockchains are made for each other. Provenance of data, machine generated and enforced contracts, and machine to machine value exchange. We are already hearing about AI Bots spinning up on-chain wallets and using USDC. https:\/\/t.co\/BwmdGdVufJ<\/a><\/p>\n

\u2014 Jeremy Allaire (@jerallaire) May 25, 2023<\/a><\/p>\n

Hayes\u00a0believes<\/a>\u00a0that Bitcoin is the most logical payment system for AI as it is \u201cavailable at all times, digital and completely automated\u201d and enables the AI to pay for \u201cdata and compute power\u2014in order to \u2018stay alive.\u2019\u201d<\/p>\n

That said, Hayes also seems to think AIs will live for trillions of years \u201cuntil the heat death of the universe,\u201d and the LLMs will, therefore, choose Bitcoin as it can be mined by robots. <\/strong><\/p>\n

So sometimes Hayes\u2019 ideas tend to get away from him.<\/p>\n

Animoca Brands Executive Chairman and founder Yat Siu is another high-profile industry figure who believes that crypto is the only logical way for AIs to transact \u201cwith each other as autonomous beings in future.\u201d<\/p>\n

In the future, 70-80% of transactions will happen through autonomous AI agents and the decentralised nature of crypto makes it a perfect match.\u201d<\/strong><\/em><\/p>\n

But don\u2019t take the word of puny humans: ChatGPT also chooses crypto as its preferred currency without any nudges in that direction.<\/p>\n

<\/a><\/p>\n

Trading bots that are able to buy and sell crypto already account for up to 80% of spot volumes, and it\u2019s likely these existing automated bots will progressively be replaced by more intelligent AI agents. <\/strong><\/p>\n

(Be warned, however, that LLM-based trading experiments like Autopilot\u2019s GPT Portfolio have seen mixed results so far, so putting your funds under the control of an AI is going to be a risky proposition for a while.)<\/em><\/p>\n

Members of Near DAO have begun experimenting with allowing an AI to decide whether a particular new project satisfies the relevant grant criteria to fund it autonomously from the treasury.\u00a0<\/p>\n

How to add Bitcoin and crypto payments to an AI agent<\/h2>\n

It\u2019s certainly easy enough to integrate crypto payments with AI. Lightning Labs has released a set of developer\u00a0tools<\/a>\u00a0that enable GPT-4 to buy, sell and hold Bitcoin using the layer 2 network. And AI startup\u00a0Fewsats<\/a>\u00a0has already created an agent that is able to pay Lightning Network invoices.<\/p>\n

I don’t want you to freak out, but my @OpenAI<\/a> agent just paid a LN invoice for me \ud83d\udc40<\/p>\n

First time #ChatGPT<\/a> paid in #Bitcoin<\/a> ? pic.twitter.com\/811JdtJ3iB<\/a><\/p>\n

\u2014 fewsats (@fewsats) November 14, 2023<\/a><\/p>\n

Fetch.Ai also offers a service where you can create an AI agent that is able to make payments on your behalf.<\/p>\n

Syndicate.io founder Ian Dao Lee recently wrote a\u00a0blog<\/a>\u00a0detailing how he was able to\u00a0knock up a GPT<\/a>\u00a0in just a few hours, using OpenAi\u2019s APIs and Syndicate\u2019s Transaction Cloud, which is able to autonomously make USDC payments from a Safe wallet on the Base network.<\/p>\n

He\u2019s excited about the possibilities this holds.<\/p>\n

\u201cThe ability for AI to pay for things, hold things of value, exchange value, or create things of value \u2014 on behalf of itself or others \u2014 is how AI gets true agency,\u201d<\/strong><\/em> he says.<\/p>\n

Some of the most interesting ideas open up not only when AI agents can transact on behalf of and with people, businesses, or other AI agents \u2014 but also when AI agents can manage things of value and transact on behalf of themselves.\u201d<\/em><\/p>\n

Lee believes that in the future, AI agents will be able to shop for things autonomously, manage the finances of people and organizations, determine and hand out funding approvals or try and grow wealth to help others.<\/p>\n

However, it turns out that AIs are just as stingy with their money as humans are, donating an underwhelming $3 to charity.<\/p>\n

<\/a><\/p>\n

Don\u2019t believe the hype<\/strong><\/h2>\n

While AI can more easily use crypto at present, banks appear\u00a0eager<\/a>\u00a0to adopt AI for a variety of uses and already use it extensively for the detection of financial fraud.<\/strong><\/p>\n

Payment companies like\u00a0Brex<\/a>\u00a0are working on integrating AI with corporate bank accounts to allow AI agents to automatically make payments in defined circumstances, such as travel expenses.<\/p>\n

And a team of researchers recently put out a preprint describing how they successfully trained an AI agent called\u00a0MM-Navigator<\/a>\u00a0to work out how to search through Amazon for a given product within a certain budget and to buy it.<\/p>\n

Until crypto payments are more widely accepted, fiat still has a lot of advantages when dealing with businesses in the real world.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nMon, 11\/27\/2023 – 14:45<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/crypto\/best-money-ai-crypto<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

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