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AI: What role does AI have in Crypto's future?

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by COINS NEWS 109 Views

Crypto projects with their strong connection to pushing technology further seemingly pairs well with AI and their potential role in the space.

- Trading Insights: AI driven algorithms are assisting traders as we speak, able to analyze far greater amounts of data than a human can, pumping out predictions for the market while simultaneously taking a left turn at the risks.

- Security and Fraud Detection: AI can be the bouncer playing the role of security stopping unsafe actors and keeping the riff raff out.

- Smart Contracts: Can smart contracts get smarter, sure, why not. Smarter smart contracts can adapt to changing tides, and self-execute.

- Scalability: One of the biggest issues in the space is scaling up, AI would absolutely help optimizing block sizes & processing transactions.

- User Experience: Some people don't mind talking to AI bots, I personally do not but in the future is there scope to have AI bots so good we don't notice? Sure, perhaps, but knowing they exist may make us skeptical, not sure. Long story short, AI bots may be able to assist users, especially new users with figuring out the space at their own speed and providing basic advice.

- Regulatory Compliance: Compliance, some people love it but let's be real, it can be a headache to get right and it's kinda boring. AI can automate the compliance process ensuring exchanges and transaction adhere to local country regulations.

As always, DYOR.

submitted by /u/teeceaustralia
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