Daily Crypto, Finance, and Tech News Summary – July 26, 2023

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Welcome, and thank you for being part of the MyZucoins community! Dive into some important crypto, finance, and tech news to stay ahead.

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AI Needs To Be Decentralized For The Same Reasons Money Does

Artificial Intelligence (AI) tends to mirror its creators, with the data and influence behind it determining its ideology. The problem? It’s largely controlled by a select few entities, much like our current financial system. Qiao Wang, a partner at DeFi Alliance, emphasizes the potential dangers of an AI monopoly and champions the decentralization of AI.

Today, AI apps like ChatGPT amass most of the data and network activity. OpenAI, according to Wang, has seemingly “dumbed down” their models for users while keeping the most potent variant for internal use. This centralization not only results in an uneven power distribution but also raises privacy concerns, as these AI models collect vast personal information from users.

Wang suggests “Edge AI” as a solution to this centralization issue. This involves running an open-source model on a personal device, allowing the user to own the model and keep their data private. This approach, however, faces the hurdle of slower processing speeds due to consumer-grade hardware’s limited capabilities compared to OpenAI’s superior hardware.

Crypto, with its inherently decentralized nature, could play a crucial role in this AI revolution. It could help decentralize AI computing by rewarding network participants for their computing power contributions. Furthermore, it could ensure authenticity in the age of AI-generated deep fakes by recording signatures on blockchain platforms like Ethereum.

Despite these possible benefits, AI agents’ programmable nature could lead to unforeseen complications, especially if given the ability to interact with blockchain platforms. However, Wang believes that the crypto industry could greatly benefit from embracing AI, potentially opening up new avenues for trading and speculation. Read more here.

AI Creates Security Risks. Can Crypto Help?

Artificial Intelligence (AI) holds great potential for our future, but it’s not without its perils. People from all walks of life, from scholars to science fiction writers, warn us about these dangers. For instance, AI can be a new playground for hackers, leading to sophisticated cyber threats that might be hard to tackle with conventional security measures. In this scenario enters blockchain, a decentralized data storage system, which can come to our rescue by safeguarding AI’s treasure trove of information.

Healthcare organizations, in particular, are often the targets of cyberattacks and data breaches. The advent of AI in this sector brings along additional security risks. However, blockchain technology can be the knight in shining armor and help protect sensitive data. It does this by storing the information in a way that it can’t be tampered with or changed without permission.

Blockchain’s security measures are not just limited to protecting data. It can also help fight against fake AI-generated content, like deep fakes, by keeping a traceable and unchangeable record of data ownership. Imagine if financial institutions could use blockchain to keep their records safe and then use AI to sift through this data to spot any fraudulent activities.

Despite the uncertainties about what a full marriage between AI and blockchain might look like, some glimpses of this future can already be seen. For example, businesses are leveraging the scalability and accessibility of cloud computing and big data to reap the benefits of AI without investing in expensive infrastructure. Similarly, blockchain is already being used in various sectors, from streamlining supply chains to verifying digital identities. As AI continues to permeate our lives, it’s clear that it needs the security blanket of blockchain to keep its data safe and prevent unauthorized usage. Read more here.

How Splitchain Can Help Authenticity

The Splitchain network could take a page from the decentralization concerns in AI raised by Qiao Wang. The truth-based Splitchain network inherently decentralizes power and doesn’t rely on consensus, thus reducing the risk of data control by a single entity.

While decentralization is key, maintaining a balance between independence and compatibility is also crucial for Zucoins and Splitchain, without compromising on user experience. By doing so, they can stay true to their mission of a simpler, more efficient cryptocurrency while staying ahead in the ever-evolving crypto landscape.

The problem of deep fakes and other AI-generated false content could be another area for Zucoins and Splitchain to focus on. While the primary purpose of Splitchain is to facilitate transactions, it could also be used to prove digital content via tokens. By creating an unchangeable record of data ownership, Splitchain could help ensure the authenticity of digital content. This would make it harder for bad actors to create and spread fake content.

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Peter & Rob