Key points to remember:
- Binance published a blog post on the potential of ChatGPT to increase crypto adoption
- World’s Largest Exchange Believes ChatGPT Can Help Newbies Get To Know Crypto Faster And Make Crypto Businesses More Efficient
“ChatGPT shows great promise” for making crypto more accessible, says Binance
In a blog post published last week titled What is ChatGPT and how can it help crypto?Binance explored how ChatGPT can help boost crypto adoption among beginners and more advanced users.
ChatGPT is a large language model developed by OpenAI that leverages a huge database consisting of millions of lines of text to produce insightful answers to various queries. It also handles coding and mathematical formulas, making it a particularly powerful tool.
According to Binance, ChatGPT could “make (blockchain) technology more accessible to a wider audience”. The main reason for this is ChatGPT’s ability to condense complex information into accessible, human-like answers that can get beginners up to speed with crypto quickly. An excerpt from blog post bed:
“In crypto adoption, the biggest benefit is how (ChatGPT) it can be used to answer questions about the use of crypto and the technology behind it.”
Additionally, Binance believes ChatGPT can also remove other hurdles, as it can automate certain customer support tasks, making it easier and more efficient for individuals and businesses to start using crypto.
Moreover, ChatGPT can also be used by advanced users, as we have already seen trading bots powered by ChatGPT and smart contract code audit performed by AI chatbot.
Binance acknowledged that the technology is far from perfect, as it has no real intelligence and can only be as reliable as the information it is powered by.
Following the public deployment of ChatGPT, various AI technologies and projects in different industries have generated a lot of interest. This can also be seen in the crypto market, as AI-focused blockchain projects such as SingularityNET (AGIX), Fetch.ai (FET), and Oraichain (ORAI) rallied into triple digits.
David is a crypto enthusiast and personal finance expert. He has created numerous publications for different platforms. He loves exploring new things, and that’s how he discovered blockchain in the first place.