How Can AI and Blockchain Tech Integrate?
AI & Blockchain | Web3 Community Building | Lyn Alden: Repeat of 2008?
GM, this is your Daily Bolt briefing.
In this issue, we're covering the latest on AI, and how it currently intersects with blockchain technology. Also in the news: Animoca Brands discusses the Web3 social paradigm, and Lyn Alden gives her take on international affairs and the current climate around USD: and whether BTC can be a viable alternative or not.
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Over and out.
1/ Real Vision - AI-generated Music Meeting The World of Blockchain
Preview: In this episode of Real Vision, host Ash Bennington is joined by Inder Phull, CEO of Pixelynx, to learn about the interactive future of music through the lens of Web3, AI, and Digital Assets. Click here to listen to the full episode.
Length: 53 mins | OUR NOTE: 7 mins
Pixelynx is a music gaming company founded by Inder and Deadmau5 and Richie Hawtin, two iconic musicians who have been at the forefront of the music industry.
In Pixelynx, their vision was to develop platforms and products to help artists monetize their content and take advantage of emerging mediums.
Their team in Pixelynx has collaborated with Animoca Brands to create the future of interactive music experiences.
Web3 solves the dilemma for the music business by giving a more efficient path to more transparency and driving forward innovation.
AI has enabled humans to visualize ideas, allowing artists to push their creative abilities and fans to experience and create without barriers.
Artists' output should be protected from being utilized in AI environments by adopting precautions.
An AI-powered platform allows users to quickly generate similar outputs from a song they have bought from the platform.
A.I. will understand what the user has put into the song and quickly analyze it semantically, via genre, tempo, and other factors.
2/ Animoca Brands - The Power of Online Community Building; Playground
Preview: In this recent episode of Animoca Brands hosted by Rich Robinson, Playground's Founder, Jia Ling Yang, discussed how her personal and professional experiences led her to create the platform. Click here to listen to the full episode.
Length: 40 mins | OUR NOTE: 2 mins
Here are some key takeaways:
The playground is a Web3 social platform meant to connect communities in order for them to collaborate, grow, and organize together.
The playground is onboarding communities, and they're activating with them.
Playground has a social discovery portal where you could discover all the different communities in art, music, wellness, film, comedy, and more.
Jia thinks that there will definitely be a new paradigm and a new era of Web3 social.
Jia feels like a lot of Web3 language would probably be reinvented.
Jia thinks that young entrepreneurs can’t know everything; finding a team or finding collaborators is the very first thing to do.
3/ What Bitcoin Did Ep. 640 - The Global Financial Crisis 2 w/ Lyn Alden
Preview: In this episode of WhatBitcoinDid, Lyn Alden joins Peter McCormack to discuss the recent run of bank failures: the causes, the impacts on the banking sector, federal support and exposure, and more. Click here to listen to the full episode.
Length: 59 mins | OUR NOTE: 5 mins
Here are some key takeaways:
Fed liabilities increased sharply while their asset side didn't, which caused the Fed to operate at a loss with unrealized losses in treasuries and mortgage-backed securities.
Small and less-liquid banks are at risk of deposit flight, while major banks like JP Morgan are not affected.
Charles Schwab is technically insolvent due to long-duration safe assets but is considered low risk due to a diversified deposit base and systemic importance.
The trend of banks becoming more centralized is expected to continue due to the deposit flight from small banks to big banks, with the number of small banks potentially merging into larger banks.
In the 1940s, there was a similar situation compared to now, where the fed thought they could control inflation, but it led to high inflation.
Countries have been increasing their gold reserves and decreasing their exposure to the US dollar since the global financial crisis in 2009.
Bitcoin is not yet big and liquid enough to be relevant at that scale yet, and its potential is still being considered by countries.
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Charles Hoskinson AMA - What Is AGI? w Input Output CEO Tamara
In this episode, Charles Hoskinson is joined by Tamara Hassan CEO of Input Output(IOHK), to talk about the Cardano Blockchain, Nuclear Fusion as part of the Five Pillars of the 21st Century, Artificial General Intelligence (AGI) and more!
Read our notes below to learn more.
Tamara’s Background
Tamara
Tamara holds a master's degree in political science and has previously worked for the government.
After working for the government, Tamara realized that the system was too corrupt and decided to take a turn and become an Audio Engineer.
After working in the government, Tamara relocated to the Middle East and assisted in the establishment of an architecture firm.
Just after law school, Tamara became interested in cryptography, which is how she and Charles met.
Tamara was the president of IOHK, started as a culture officer, then moved into Human Resources (HR), and then became the Chief of staff.
After a big company transformation, she was recommended to transition to the president role, where they report to Charles and run the day-to-day business of IOHK.
The IOHK team is responsible for spinning out companies with the right management, leadership, and DNA from parent code, and continuously improving and optimizing the system.
Nuclear Fusion as part of the Five Pillars of the 21st Century
Charles
There is no need for Nuclear Fusion in the five pillars of the 21st century, as there is enough energy in coal for over a thousand years.
It is not arguable that people don't have an energy crisis, but rather a policy problem where people are destroying the power grid and replacing it with a base load.
There is enough energy in coal for over a thousand years, and Fly ash can be put into geopolymer concrete to reduce carbon product output.
Geothermal and hydroelectric energy sources are abundant up until now, including carbon air capture, natural gas, geothermal, solar, tidal, and biofuel.
Fourth-generation nuclear power is being developed to revolutionize energy, but it will not allow people to alter the color of their complexion or interact with computers.
Q&A
Q: Have you seen the recent Lex Freidman interviews with Sam and Eliezer? Would love to get your take on Artificial general intelligence(AGI) can we make it safe or is extinction almost certain at this point? What do you think about the +1000 CEO’s letter?
Tamara
Sam Altman (CEO of OpenAI, the company behind ChatGPT) and Eliezer Yudkowsky, and AI safety advocate, are still contemplating their relationship's controversy.
Eliezer is a smart and hostile person.
Sam's instincts tell him that he is doing the right thing right now, yet he might be going too far.
Eliezer suggests that Sam be more open about the facts of their partnership since they are not revealing any of the back end or information about AGI.
Sam Altman is a big advocate for slowing down and thinking about the implications of advanced technologies, such as AI, Blockchain, and GPT-4.
Sam believes that it is important to slow down and think about the implications of what they're building and that it is meant to be run by a foundation not for profit.
Charles
There is a paper that discusses using GPT to train GPT and even without a new model, it may get excellent outcomes.
GPT 5 will be an exceptional entry-level programmer, and GPT 6 will be exceptional throughout to a superhuman level for every programming language at the same time.
There will be a centaur effect in the near future, which occurs when individuals couple up with GPT and their production increases tremendously.
Q: Do any of your other non-crypto ventures use the Cardano blockchain in any way?
GPT-4 will compile a list of natural alternatives to construction materials such as drywall, frame, and insulation.
Charles’s Executive Assistant(EA) was able to create a detailed report in a week or two, which can then be put back into GPT4 to do Gartner-level research and get a sampling of the entire market space.
Charles’s EA together with their newly built GPT4 was able to create a table with 26 different items, such as magnesium oxide drywall, air-crete, and insulating spray foam.
Blockchain technology is being explored in the medical world to mine and monetizes private data, such as genomic data, large population chronic care groups, and bioluminescent plants.
The usage of blockchain to establish a system in which users may query data and have a bat-style model.
There is a lot of cool stuff with Nanosensors in the IoT space, and Cardano is not yet ready to enter the IoT side of the world.
Blockchain is being explored for transparency, trust, auditability, time stamping, and Fidelity.
Open banking is also being explored with other financial providers within their ecosystem.
Health Insurance Portability and Accountability(HIPAA) restrictions make it tough to open up in the medical industry.
The vast majority of medical data is starting to aggregate amongst the collection of Electronic Health Records(EHRs), such as Athena, Epic, and other big providers, and there is a long tail of small-scale EHRs that are usually outpatient.
The lack of incentive for companies to collaborate and open banking, ISO 20022, and other financialization are hindering the development of good DNA services with privacy.
Q: With the recent ChatGPT-Wolfram integration and past Cardano-Wolfram partnership, what potential lies in combining Cardano, Wolfram, and Chat-GPT?
Stephen Wolfram emailed Charles about ChatGPT, which he is interested in.
Charles is looking at potential integrations between chat GPT and Marlowe, such as GPT-4, and for assisting in the development of Marlowe code for NFTs.
Wolfram has a great blockchain group and Charles has talked to them for years about potentially doing something like an Oracle layer for the entire metaverse of blockchains, the Multiverse of blockchains, and the multi-chain.
Q: Why is the UTXO model better than the accounts model for the blockchain?
The UTXO model compared to other models differ in parallelism, concurrency, and the ability to process off-chain transactions.
Cardano's accounting model was designed to be straightforward to Shard and go parallel and highly concurrent.
The way users will write code in the UTXO model to take advantage of its capabilities is fundamentally different when they go from single-core processors to multi-core processors.
Ergo has experimented with 5000 outputs and each output can have dozens of events inside of it, making it easier to bundle transactions and validate them back on-chain.
Hydra is a great model for smart contracts, and it's built to handle side-chain transactions, and roll-ups off-chain.
The fundamental components of Ethereum's special formula include input endorsers, vertically scaling transactions, off-chain scalability, and side chains.
Q: Are you familiar with Over-unity technology? Numerous patents have been submitted over decades, but get bought and shelved or confiscated under national security.
Over-unity technology is also known as a conspiracy theory.
Over-unity devices are often used to conduct experiments in malls and other places to test their effectiveness.
There is never a single person with an over-unity device willing to turn the device over to an independent lab to verify that it is generating electricity.
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