Artificial intelligence (AI) and Bitcoin took center stage at the recent Paris Blockchain Week, where I had the honor of presenting to an engaged audience. The event, focused on blockchain and digital assets, drew nearly 10,000 participants, marking a notable 25% increase from the previous year. This surge in attendance coincided with Bitcoin nearing its peak value and AI dominating discussions.
The prominence of AI in the public sphere has skyrocketed, especially following the introduction of ChatGPT in November 2022. A comparison of Google searches for “AI” and “Bitcoin” illustrates the exponential rise in interest in AI post-ChatGPT.
During my presentation, I delved into the transformative capabilities of Bitcoin and AI, viewed through the lens of Complex Adaptive Systems (CAS) theory. By emphasizing key CAS attributes like decentralization, network effects, and nonlinear dynamics, I aimed to underscore how these cutting-edge technologies are already reshaping our world in profound ways.
My objective was to instill a sense of enthusiasm and hope regarding the potential of AI and Bitcoin among attendees. I firmly believe that when harnessed effectively, these technologies can pave the way for a future characterized by greater opportunities, equity, and sustainability.
Smart Contracts And Your Digital Afterlife
An illustrative example of this potential lies in smart contracts, which have the capacity to revolutionize transactions by automating processes, enhancing efficiency, and reducing costs. Doug Levin, an esteemed entrepreneur and Executive-in-Residence at Harvard Business School, outlined a compelling use case for smart contracts within the oil industry. These contracts could facilitate automatic transactions at varying prices based on market conditions, fostering a more equitable, efficient, and transparent marketplace for both buyers and sellers.
The efficiency of blockchain transactions is already evident, as evidenced by a remarkable \(1 billion transaction between anonymous Bitcoin wallets that settled in under an hour with a fee of merely \)700. In contrast, traditional bank transfers can still take up to a week to finalize.
Looking ahead, Ryan Condron, the mind behind the Lumerin protocol, shared a visionary concept of a future where personalized AI assistants possess comprehensive knowledge of individuals, enabling them to make investment decisions and manage capital even after the individual’s passing, based on their preferences and life history.
With the integration of AI and Bitcoin, perhaps individuals can carry their wealth and decisions beyond their lifetime.
The Transformative Power Of AI
Elon Musk recently made a bold yet plausible prediction regarding AI, foreseeing that the technology will surpass the intelligence of the smartest human by next year or by 2026 at the latest. This forecast aligns with the ongoing advancements in AI, with recent developments showcasing AI’s ability to outperform humans in various tests.
Noteworthy figures like JPMorgan CEO Jamie Dimon have also acknowledged the transformative potential of AI, likening it to past groundbreaking inventions like the printing press and the internet. While Dimon expresses reservations about Bitcoin due to its disruptive nature to traditional banking, he acknowledges the importance of diversifying assets in the face of global risks.
Despite the concerns surrounding Bitcoin and AI, there is a prevailing sense of optimism. As we explore the endless possibilities offered by AI, coupled with the security and decentralization facilitated by Bitcoin, we stand at the brink of a new era characterized by financial freedom and innovation.
Amidst the prevailing skepticism, I choose to embrace Bitcoin and AI with optimism, and I encourage you to do the same.