Coinbase, the largest U.S. digital asset exchange, said the intersection between artificial intelligence and cryptocurrencies presents a significant opportunity for entrepreneurs, including helping to avoid some of the excesses cited by critics of crypto technology.
Coinbase Prepares Cryptocurrency and Artificial Intelligence Report
“As AI and applications in blockchain mature, the challenges represented by these technologies are leading to the emergence of new use cases for crypto to help spaces of collaboration and address the specific societal challenges posed by AI,” Coinbase research manager David Duong wrote in a June 1 research report. can open,” he said.
According to data from research firm Messari, the total market cap of crypto projects directly dealing with artificial intelligence is around 0.07% of the total crypto market cap at $772 million.
Duong outlined a number of potential use cases that combine both technologies. For example, decentralized data marketplaces can help generative AI meet its demand for validated and diverse datasets to train its model. According to the report, a token-based incentive mechanism could improve the quality of data from these marketplaces.
*Not investment advice.
