The best money for AI is cryptocurrencies – Cointelegraph Magazine

For every genuine blockchain project that leverages artificial intelligence in an attempt to create a better world, like Dr. Ben Goertzel’s Singularity.net, there are 100 coins like ai Doge that have simply merged the hyped terms “ai” and “crypto.” for spanking tokens.

“Those are just fundamental buzzwords,” explains Illia Polosukhin, founder of Near blockchain, who worked on the groundbreaking “Attention is all you need” research that led to great language models like ChatGPT and Claude.

As one of the few people in the world who is as well-versed in ai as he is in cryptography, Polosukhin says that if you ignore the hype, the technologies actually fit together well.

“There are a lot of specific things in both ai and Web3 that can benefit or benefit from each other,” he says.

The magazine spoke with Polosukhin, Framework Ventures founder Vance Spencer, MakerDAO founder Rune Christensen, Quantstamp’s Richard Ma, Casper’s Ralf Kubli and others to examine some of the key, genuine, no-hype use cases for the ai in crypto and blockchain.

Over the next week, we’ll be rolling out a genuine use case for ai in crypto each day, including reasons why you shouldn’t necessarily believe the hype.

<h2 class="wp-block-heading" id="h-the-best-money-for-ai-is-crypto“>The best money for ai is cryptocurrencies

Everyone, from the head of the circle. Jeremy Allaire From former BitMEX CEO Arthur Hayes to Animoca Brand’s Yat Siu, they are convinced that cryptocurrencies will be the currency of choice for ai agents.

After all, LLMs cannot access bank accounts, but they can easily make payments using a funded crypto wallet and are well prepared to interact with the logic of smart contracts and DeFi protocols.

The humans delegating the funds to the wallet can set the general strategies and rules and then observe how the ai ​​agent has performed using transparent logging on the blockchain.

Allaire says ai “and blockchains are made for each other,” and the technology is well-suited for “machine-generated and executed contracts” and “machine-to-machine value exchange.”

Completely agree. ai and Blockchains are made for each other. Data provenance, machine-generated and executed contracts, and machine-to-machine value exchange. We are already hearing about ai Bots creating on-chain wallets and using USDC. https://t.co/BwmdGdVufJ

—Jeremy Allaire (@jerallaire) May 25, 2023

There is believe that bitcoin is the most logical payment system for ai, as it is “available at all times, digital and fully automated” and allows ai to pay for “data and computing power, to ‘stay alive’”.

That said, Hayes also seems to think that AIs will live for billions of years “until the heat death of the universe” and therefore LLMs will choose bitcoin as it can be mined by robots. For this reason, Hayes’s ideas sometimes tend to move away from him.

Animoca Brands CEO and founder Yat Siu is another high-profile industry figure who believes cryptocurrencies are the only logical way for AIs to transact “with each other as autonomous beings in the future.”

“In the future, 70% to 80% of transactions will be conducted through autonomous ai agents and the decentralized nature of cryptocurrencies makes them a perfect match.”

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

Trading robots that can buy and sell cryptocurrencies already account for up to 80% of spot volumes, and these existing automated robots are likely to be progressively replaced by smarter ai agents. (Note, however, that LLM-based trading experiments like Autopilot’s GPT portfolio have seen mixed results so far, so putting your funds under the control of an ai will be a risky proposition for a while. ).

Near DAO members have begun experimenting with allowing an ai to decide whether a particular new project meets the relevant grant criteria to autonomously fund it from the treasury.

<h2 class="wp-block-heading" id="h-how-to-add-bitcoin-and-crypto-payments-to-an-ai-agent”>How to add bitcoin and cryptocurrency payments to an ai agent

Certainly, it is quite easy to integrate crypto payments with ai. Lightning Labs has released a set of tools for developers. tools which allow GPT-4 to buy, sell and hold bitcoin using the layer 2 network. And the start of ai few satellites You have already created an agent that can pay Lightning Network invoices.

I don’t want you to be scared, but my @OpenAI The agent just paid a LN bill for me

First time #ChatGPT paid in bitcoin?src=hash&ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow”>#bitcoin ? pic.twitter.com/811JdtJ3iB

– few satellites (@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 a Blog detailing how he could raise a GPT in just a few hours, using Syndicate’s OpenAi and Transaction Cloud APIs, you can autonomously make USDC payments from a secure wallet on the Base network.

He is excited about the possibilities this offers. “ai‘s ability to pay for things, own things of value, exchange value, or create things of value (on behalf of itself or others) is how ai gains true agency,” he says.

“Some of the most interesting ideas arise not only when ai agents can transact on behalf of and with people, companies, or other ai agents, but also when ai agents can manage things of value and transact on behalf of themselves”.

Lee believes that in the future, ai agents will be able to autonomously buy things, manage the finances of people and organizations, determine and grant financing approvals, or attempt to generate wealth to help others.

However, it turns out that AIs are just as stingy with their money as humans, donating a disappointing $3 to charity.

Don’t believe the hype

While ai Can Use Cryptocurrencies More Easily Today, Banks Appear ai-moves-in-the-payments-industry” target=”_blank” rel=”nofollow”>anxious adopt ai for a variety of uses and already use it widely for financial fraud detection.

Payment companies like ai-payments-are-changing-corporate-travel” target=”_blank” rel=”nofollow”>Brex are working to integrate ai with corporate bank accounts to allow ai agents to automatically make payments under defined circumstances, such as travel expenses.

And a team of researchers recently published a preprint describing how they successfully trained an ai agent called ai/gpt-multimodal-agent” target=”_blank” rel=”nofollow”>MM Browser Discover how to search on Amazon for a specific product with a specific budget and buy it.

Until crypto payments become more accepted, fiat money still has many advantages when it comes to real-world businesses.

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andres fenton

Melbourne-based Andrew Fenton is a journalist and editor covering cryptocurrency and blockchain. He has worked as a national entertainment writer for News Corp Australia, at SA Weekend as a film journalist and at The Melbourne Weekly.

Follow the author @andrewfenton