Don't understand this as yet, but reaching out.
Opinion Essay
AI and machine learning will usher in new forms of digital assets from intelligent NFTs to self-determining DeFi protocols. This essay is part of CoinDesk's 'Big Ideas' series.
By Jesus RodriguezLayer 2 Jun 5, 2022 at 4:08 p.m. EDT in Coindesk
“Software is eating the world” has become one of the iconic phrases of the last decade of the software industry. Quoted in 2011 by software legend and venture capitalist extraordinaire Marc Andreessen, it synthesized the idea that companies that operated mostly in the physical world were transitioning to the digital economy in a trend that will essentially transform every company as a software company.
Jesus Rodriguez is CEO of IntoTheBlock, a blockchain and cryptocurrency market analysis firm. This article is a preview of a talk he will give this week on the Big Ideas stage at Consensus 2022 in Austin, Texas.
In recent years, the evolution of machine learning (ML) and artificial intelligence (AI) has permeated all areas of the software industry, leading many experts to claim that “machine learning is eating software.” Crypto and digital assets are rooted on the foundation of code and programmability and, consequently, are likely to be influenced by ML-AI trends. The intersection of ML-AI with digital assets is likely to usher in a new era in which intelligence becomes a native component of crypto assets.
The idea of intelligent crypto assets is conceptually trivial but full of practical challenges. Which are some of the fundamental ML trends that can rapidly impact the next generation of crypto assets? How about the main scenarios that can benefit from intelligence capabilities in crypto or some of the key technical challenges that need to be overcome for crypto to become intelligent. This essay explores some of these ideas and develops a thesis about the potential of the intersection of crypto and ML.
Only crypto can be natively intelligent
An important point to realize when thinking about AI-ML in the context of crypto-assets is that crypto is the only asset class in history that has the potential to become natively intelligent. AI-ML capabilities in traditional asset classes such as commodities or equities are implemented in vehicles like robo-advisors or quant strategies that live outside the asset itself. Even though there is an obvious role for those vehicles in the crypto space, crypto assets can natively embed those AI-ML capabilities in the assets. This benefit is, obviously, a side effect of the programmable and digital capabilities of crypto. Crypto assets are based on code and that code could take the form of AI-ML models. .... '
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