The pace of innovation in the crypto sphere right now is staggering. Every week new protocols are launched and very few seem to be copypasta projects. This is amazing but it also makes it difficult to keep up with. Combine that with the innovation happening in the Artificial Intelligence world and it’s enough to make Buffett and Munger feel woozy.
One of the latest crypto-based AI projects is called CryptoGPT. Its main mission is to flip the script on big tech by allowing its users to monetize their AI-generated data by selling it to firms that need it to improve their own AI algorithms. Let’s go over the main areas of the project so we have a better understanding of how it all works.
From the website, “CryptoGPT is the ZK Layer-2 that lets you own the monetization of your AI data. Turn every task of your daily life into a source of income.” In case you didn’t know, GPT stands for Generative Pre-Trained Transformer. And a ZK Layer-2 protocol is an EVM-compatible scaling network that allows users to move their data off the blockchain while still maintaining privacy, security, and trustless operation. It works by using zero-knowledge proofs to verify transactions without revealing any details about them.
Zero-knowledge proofs are cryptographic systems that allow two parties to prove the validity of a transaction without revealing any underlying information or data. This type of technology is used in CryptoGPT’s protocol to verify transactions on their network without anyone knowing what it’s about or who the sender and receiver are. This means users can store and transfer data and value on the platform without having to worry about their information being exposed.
The next part of CryptoGPT is the monetization aspect. The platform uses a Data-to-AI engine that collects, processes, encrypts, and packages data for commercial applications that can be sold on the open market which would strengthen the AI models in various industries such as healthcare, tourism, manufacturing, biotech, and logistics.
The key benefit of CryptoGPT is the ability for users to own and control their data. They can decide who gets access to it and how much they will charge for it. This allows them to have full power over their data, something not possible with other platforms. It also ensures that they get the full value of their data and don’t have to rely on someone else taking a cut.
CryptoGPT’s economy is complex and you can read all about it here to get the full gist of the project and associated tokens.
CryptoGPT is currently available for download from Google Play and also has a desktop version. Essentially, you would use the mobile or desktop app just like you would use any other AI application. They also have an AI-enabled VPN product that would allow you to browse the internet privately while creating more data for sale. It also looks like they have an AI-enabled store and data marketplace planned for release at a later date.
“2-Earn” crypto-related protocols aren’t new, but as the CryptoGPT site explains, they have a problem with sustainability. They either rely on ponzinomics or mass adoption just never quite happened. It’s impossible to tell whether or not CryptoGPT will be the project that achieves truly sustainable mass adoption, but you can bet that eventually one of these projects will figure out the secret sauce and will become a competitor with traditional big tech firms. We are still early and hashing things out, but these types of protocols that flip the script on big tech will eventually win as more people become tired of being the product.
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