Legal challenges and opportunities in the crypto world
Artificial intelligence has been in the news a lot lately, and it seems like every day we hear about new amazing things that can be done with this technology. But with great power comes great challenges. There are currently legal issues surrounding AI content which, once sorted out, will open up brave new arenas for its use, particularly in the crypto sector.
In Europe, an early EU deal that could pave the way for the first comprehensive legislation to control the technology requires companies using generative AI tools, such as ChatGPT, to report all copyrighted content used to construct their systems.
Almost two years ago, the European Commission began drafting the AI Act to regulate the rapidly developing field of artificial intelligence, which saw a surge in interest and investment after OpenAI’s AI-powered chatbot ChatGPT was made available.
Members of the European Parliament decided to move on to the next stage, called the “trilogue”, where EU legislators and member states will work out the final draft of the bill.
The legislation attempts to rank AI tools from low to limited, high and unacceptable in terms of perceived danger. At stake are concerns about the spread of false information, biometric surveillance or the use of biased language.
Legal Controversies in the United States
Europe is not the only place where Generative AI is stirring up legal controversy. The question of whether AI can apply for and receive patents to generate content has recently been put to the test in US courts, as a case was brought seeking to have an artificial intelligence system named as the inventor of a patent.
The US Supreme Court declined to hear the case, which may appear to have put to rest the controversial idea that could have transformed the field of intellectual property. Things are far from settled on the matter, however, and that has done nothing to calm growing concerns that AI threatens to nullify other aspects of intellectual property rights.
Although mainly known from OpenAI’s ChatGPT, the same technology is already being used to design semiconductors and propose ideas for new molecules that could form the basis of useful drugs.
For now, such use of AI does not appear to pose a serious challenge to the patent system since the technology is used as a tool to help people shape ideas rather than operate independently, said Chris Morgan, an IP partner at law firm Reed Smith.
But referring to the possibility that AI systems could one day come up with inventions on their own, she added:
Our laws are not equipped, as they are written right now, to handle that scenario.
Even before that stage is reached, she and other legal experts warned that systems like ChatGPT could be used to churn out large numbers of new patent applications, flooding the patent office with claims in the hope of winning a big win.
How generative AI will impact the crypto world
Portfolio management for digital assets is an area where Generative AI is expected to have a major impact. The growth of digital assets increases the complexity of managing a portfolio. To automate the process, generative AI studies market trends, generates estimates and places trades. It will also be easier for non-professionals to monitor their assets and manage their portfolios as the industry will continue to evolve.
The creation of new digital assets is another area likely to have a major impact from Generative AI. It can make it easier to automatically build custom digital assets as technology evolves. This could have a significant impact on the market as there will be an unprecedented amount of fresh cryptocurrency production, which will make the climate for token initiatives much more competitive.
AI and dApps
Another sector where generative AI is expected to have a significant impact is the development of new decentralized apps (dApps). Decentralized apps are becoming increasingly popular as consumers want improved resource and data security and management. But right now, developing dApps is difficult and time-consuming. By producing code autonomously based on a set of inputs, generative AI can streamline this procedure, making the creation of dApps easier and faster.
“A picture is worth 1000 words”
The generation of images related to crypto is already having an impact. These images are used for marketing purposes and powerful motivators to invest in certain projects. They can also be used to inject “life” into what might otherwise be perceived as overly technical descriptions, thus showcasing powerful crypto technology in a powerful new light.
Greater security
The introduction of generative AI can have a significant effect on security for custody solutions in Web3 and crypto. An ever-increasing number of blockchain transactions increases the chance of fraud and hacking, but generative AI can reduce this risk by identifying and mitigating security issues. So despite the increasing complexity of the crypto and Web3 world, AI would thus help protect users’ money and information.
AI Crypto applications
A discussion of current AI trends would not be complete without a mention of a project that is currently in the news. AiDoge (AI) is a text-to-meme AI-powered generator platform with which users can create new and relevant memes. It is currently on pre-sale, offering an opportunity to get involved at a low price, before the official launch.
According to the project’s website,
AiDoge’s generator uses cutting-edge AI algorithms to create contextually relevant memes, trained on extensive meme datasets and crypto news. This ensures high-quality, up-to-date memes.
Key elements include the text-based instructions, the AI-powered meme generator, and the native AI tokens for purchasing credits. AiDoge’s meme generator uses modern AI algorithms to create memes that are relevant to the circumstances. This ensures that only the best and latest memes are used.
The AiDoge ecosystem gives users the opportunity to stake AI tokens to access platform features and daily credit incentives. Staking is essential for continuous participation and platform stability. Users of AiDoge can read and upload AI-generated memes to the public wall.
Visitors can explore memes on the wall using tools to filter and categorize them based on criteria such as popularity, novelty or specific topics. They provide a modern approach to meme generation that utilizes cutting-edge AI technology, user-friendly suggestions, and a token-based credit system to modernize meme production and foster a thriving crypto community.
The AiDoge platform has generated one trillion AI tokens. 50%, or 500 billion, will be sold during the pre-sale. The remaining 500 billion will be used for liquidity, IPO, earning and community pricing. The remaining AI tokens from the AiDoge presale will be deleted. As a result, the market value will fall.
The earliest investors will receive the token for the lowest price of $0.000026. Costs continue to rise as each stage is sold out. After the presale, the AI token will be published at a price of $0.0000336 on both centralized and decentralized markets.
Accordingly, phase one investors will immediately receive a 30% increase. AiDoge pre-sale accepts a variety of currencies. BNB, Tether and Ethereum are all covered. Credit cards can be used by those without cryptocurrency to make purchases. Here is a buying guide for AI tokens.
To participate in AiDoge’s pre-sale as an early investor, please follow the link to aidoge.com’s site.
Visit AiDoge Presale
AI Crypto Price Predictions
In the emerging AI field, there is one other new project undergoing a pre-sale that could create wealth for early investors.
To provide a range of AI-based analytical tools and platforms for traders of all stripes, yPredict has established an ecosystem that brings together financial quants, traders and AI/ML specialists. According to the creators, these custom-made tools can offer sophisticated analysis and insights using cutting-edge financial prediction techniques and calculations constructed from complementary data sources.
To help traders navigate today’s intricate financial markets, yPredict offers access to expert solutions and tactics. These difficulties include excessive noise and lack of statistical advantage, which often lead to poor decision making. Many traders only use information from social media, such as news and popular opinion, or signals from dishonest providers. Trade choices can be made more intelligently and trading strategies can be optimized using yPredict’s analytical tools and platforms.
The yPredict marketplace rewards developers who display their model results as monthly subscription products with YPRED tokens. Developers receive 70% of the subscription payment and tokens are locked for 30 days to maintain price stability.
To participate in yPredict’s presale as an early investor, visit ypredict.ai.
Visit yPredict Presale
