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Blockchain, the tech behind bitcoin, may have found its ‘killer use case’ by keeping AI in check

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Blockchain could be used to prevent bias in the data that artificial intelligence models are being trained on — and that could be a “killer use case” for the technology, executives told CNBC.

One of the concerns about the AI models — the kind that underpin applications like ChatGPT — is that the data they are trained on could contain biases or misinformation. That means the answers an AI system may give would contain those biases and false information.

Blockchain hit the market in 2009 with the launch of the cryptocurrency bitcoin. In the context of bitcoin, the technology is an immutable and tamper-proof public ledger of transactions. Businesses have been looking to put these principles to use in other applications for blockchain, which is sometimes referred to as distributed ledger technology.

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In the case of AI, training data can be put on the blockchain. That will allow the developers of the AI system to keep track of the data that the model has been trained on.

Casper Labs, a business-focused blockchain firm, partnered with IBM this month to create such a system.

“The product that we are developing, the datasets are actually checkpointed and stored on the blockchain so you have a proof of how the AI is trained,” Medha Parlikar, chief technology officer and co-founder of Casper Labs, told CNBC during a panel discussion at the World Economic Forum in Davos this week.

“And so as you use the AI, if it’s learning and you find that the AI is starting to hallucinate, you can actually roll back the AI. And so you can undo some of the learning and go back to a previous version of the AI.”

Hallucinations broadly refer to when an AI system gives out false information.

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Blockchain is a technology that has been spoken about for many years, and a host of industries ranging from finance to health care have been looking at ways to use it.

Sheila Warren, the CEO of the Crypto Council for Innovation, said, however, that a blockchain-based AI training data ledger could be the “killer use case” for the technology.

“I actually do think that the verification of an AI and sort of the checks and balances … within an AI system, are going to be blockchain driven and blockchain backed,” Warren told CNBC during the panel.

 

Source: CNBC

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Blockchain

Global Fintech Market Size To Worth USD 1009.10 Billion By 2033 | CAGR Of 14.01%

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Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

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Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

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Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

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Italy Ramps Up Crypto Oversight in Line with MiCA

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Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

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This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

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