Daily Crypto, Finance, and Tech News Summary – February 9, 2024

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Welcome, and thank you for being part of the MyZucoins community! Let’s get into an interesting piece of crypto, finance, or tech news to stay ahead.

Quick announcement! This will be the final daily newsletter for a while. We’ve covered an enormous amount of topics over the past year: 5 days a week, 200+ articles, covering different aspects of Zucoin and Splitchain in relation to a topic we found interesting.

We’ll aim for ~1-2 newsletters a week covering the biggest news topics or insights.

We’ve thoroughly covered a lot of what we’ve wanted to cover in these daily newsletters and there’s now a really useful set of resources for you to read anytime you’d like to catch up on past newsletters.

There are some exciting things in the pipeline.

Thanks as always for reading, you’ve been awesome and we’ll see you in the next newsletter.

Real vs fake cloned paper contract on a stand and crowds, in an art gallery, a sign that says real or fake, with a gameshow host

Crypto Is The Opposite Of AI

In the realm of technology, Bitcoin has been a shining star with its recent official recognition through spot Bitcoin ETFs in the United States.

However, the spotlight is also on AI-related cryptocurrencies, showcasing the expanding utility of crypto technology beyond just payments.

Grayscale Research points out that the collaboration between AI and crypto could tackle significant societal challenges like the rise of deepfakes, privacy concerns, and the centralization of power.

Impressively, the top four AI-related crypto tokens have surged by 522% over the past year, signaling early acceptance and optimism for the fusion of AI and crypto technologies like blockchain.

The tech world was recently abuzz when OpenAI, a leading artificial intelligence research lab co-founded by Sam Altman (and originally Elon Musk), underwent a temporary, unexpected and rapid leadership change.

This incident highlighted the potential risks of concentrated control over crucial technologies.

It sparked a wider debate on making AI development more open, competitive, and transparent, mirroring the core principles of blockchain technology.

There are calls for crypto to play a key role in ensuring a balanced and trustworthy AI ecosystem, advocating for a beneficial relationship between these two cutting-edge technologies.

Initiatives like Worldcoin are attempting to prove that blockchain’s transparent and immutable nature can be used to positively verify digital content authenticity, combatting AI-driven misinformation.

Worldcoin, in particular, also co-founded by Sam Altman, aims to uniquely identify humans to differentiate them from bots using blockchain technology, showing significant global engagement in just six months via token giveaways that occurred in mostly emerging regions around the world.

Many are concerned that Worldcoin’s technology will be used to closely track individuals, raising a lot of privacy concerns.

Another concern surrounds AI bias as these systems increasingly and subtly influence our daily decisions.

They are attached to software algorithms that decide, for example, what news content to show to certain categories of viewers.

It falls under the umbrella of “personalization.”

Less about hard facts, and more about showing a particular viewer what they are keen to hear.

Decentralized computing platforms like Akash and Render are addressing the monopolization and high costs of AI development resources.

By connecting computing resources such as GPUs (heavily used in AI algorithms), with developers, these platforms are democratizing access to computing power, enabling a wider range of participants to engage in AI development and challenging the hegemony of established tech giants.

The convergence of AI and crypto is at an early stage but holds immense potential for addressing critical technological challenges and promoting a more inclusive, transparent, and innovative future.

This emerging synergy could redefine the technological landscape, offering solutions to pressing issues while paving new paths for growth and development in both AI and crypto domains. Read more here.

More On This Topic:

Your digital identity: A new world of rules and surveillance is on the horizon. Managing your own data: Zucoins’ decentralized approach.

There is shrinking freedom in modern transactions. Can emerging cryptos like Zucoins become a beacon of transactional liberty amid CBDCs?

The rise of noncustodial finance: A user-friendly bridge to cryptocurrency adoption? Building infrastructure for the NoFi industry.

New age of money. Bitcoin Vs CBDCs. Privacy and Liberty is at stake. Bitcoin and Zucoins: Easy self-management is key to maintain independence.

A mysterious entity that might be surveilling IP addresses of Bitcoin users, US’s RESTRICT privacy act.

How Cryptos Like Zucoin Could Serve As A Tokenization Tool For Authenticity Against AI’s Illusions

AI, like any powerful tool, can be used for beneficial or destructive effects.

There is a growing proliferation of AI deepfakes (modifying images using AI to produce convincingly fake images, video and text), privacy invasion (sophisticated tracking and selling of personal behavior and data), and power centralization.

Some, like Grayscale, are beginning to advocate for the use of crypto as a pivotal technology in cultivating a balanced, trustworthy AI realm.

Amid growing concerns over AI bias—a phenomenon where AI systems inadvertently reflect prejudiced human viewpoints or prioritize certain content to certain groups more than others crypto has the potential to emerge as an assistive solution.

In the face of AI’s capacity to generate personalized and convincingly fake content, crypto technology could provide a way to encourage authenticity, harnessing tokenization processes to certify genuineness.

Zucoin, with its advanced Splitchain network architecture, is potentially well-positioned to contribute to the burgeoning field of AI by providing a secure, increasingly decentralized platform for AI transactions and collaborations.

Once Splitchain’s tokenization tools are made available, third parties can use the platform’s robust safety protocols and efficient transaction settlement mechanisms can facilitate the safe exchange of important data, such as AI models and datasets, ensuring data integrity.

Splitchain could serve as a pivotal tool in mitigating the risks associated with AI-generated deepfakes and misinformation.

Digital content and AI outputs can be authenticated and traced back to their origins, ensuring veracity and combating the spread of AI-driven false information.

For example, during important events such as a country’s election, content can be quickly verified for authenticity, ensuring that any media involving candidates is genuine before being aired or circulated among news outlets and social media websites.

This approach would provide a more precise, configurable and secure method of content verification.

Moreover, the recent leadership debacle at OpenAI underscores the critical need for decentralized governance in the AI sector, a principle that Zucoin embodies.

By advocating for decentralization, these platforms can contribute to a more balanced and trustworthy AI ecosystem, where power is not concentrated in the hands of a few but distributed among the many.

This democratization of AI aligns with the core principles of crypto technology and can encourage more open, competitive, and transparent AI development.

As AI and crypto continue to intersect in the future, systems like Zucoin’s Splitchain are not merely participants but are gearing up to provide communities with the necessary frameworks and tools to shape a future where technology serves humanity more fairly and innovatively.

As we navigate the convergence of AI and crypto, it’s important to recognize their distinct roles: AI, with its ability to personalize and fabricate, versus crypto’s steadfast commitment to authenticity and transparency.

Using tools like smart assets and their subsets like NFTs, smart contracts and more, important items like documents can be referenced directly on-chain and cryptographically verified with undeniable proof.

What’s more, ownership changes to those items can be transparently verified quickly and easily.

The synergy between technologies like Zucoin’s Splitchain presents a solid counterbalance to AI’s potential for deception, offering a foundation for a future where technology serves to enhance, rather than undermine, our grasp on reality.

In the grand tapestry of technological evolution, crypto stands as a testament to Benjamin Franklin’s adage, “An ounce of prevention is worth a pound of cure.”

Just as Franklin advocated for foresight and prevention, crypto technology preemptively safeguards against the digital deceitfulness AI might cause, ensuring that in our digital age, truth remains distinguishable from fiction.

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All the best,

Disclaimer: Of course, this is not advice, financial or otherwise. It’s also important to consider the risks and challenges associated with any potential benefits.