ChatGPT use cases in the crypto space.
As discussed above, the biggest advantage of ChatGPT is its ease of use and its ability to provide human-like responses to a wide variety of topics and questions. In the crypto space, the biggest benefit is that it can be used to answer questions about how to use cryptocurrencies and the technology behind it.
Newcomers to the space are often put off by what are certainly some pretty complicated concepts.
Think of beginners trying to learn about "proof of work," "Bitcoin mining," or hashing, for example.
Of course, the Internet covers as much material as possible in an effort to help people learn about cryptos. But, ChatGPT has the advantage of being able to help clarify concepts in an interactive and conversational manner.
Users can also continue to ask it questions until they feel they have fully understood any topic that interests them and is related to cryptocurrencies. The AI chatbot can also be useful for smart contract developers.
Isaac Py, developer of ChatGPT, says: "Combining smart contracts with AI can enable more complex and dynamic contractual interactions. For example, smart contracts + AI can be used to automatically apply payment terms or release funds based on the fulfillment of certain conditions."
The developer added that an AI system could evaluate the potential risks and benefits of a contract; as well as suggest changes to optimize it.
In addition, "Smart contracts and artificial intelligence can also enable the creation of self-executing contracts that do not require human intervention." In other words, ChatGPT could contribute to the development of a Decentralized Autonomous Organization (DAO), an organizational structure in which control is not in the hands of a single person or company.
DAOs use smart contracts on a blockchain and participants use governance tokens to vote on proposed actions. These decentralized organizations can operate without the need for centralized power or strategic planning, allowing them to make decisions and execute activities based on their smart contracts.
In this sense, ChatGPT can help establish transparency and trust within the organization by creating and managing smart contracts, as the fixed rules of these contracts control all actions performed by the DAO.
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