CEO of BlockApps and Co-Chair of the Enterprise Ethereum Alliance discusses web3 technologies, transitioning from mining to proof of stake in Ethereum, impact of Proof of Stake and NFTs in the crypto space, intersection of blockchain, AI, and crypto, creation and governance of base models for ML, current happenings in crypto and web3, advantages of blockchain and collapse of VC market
The tokenization of treasuries and the rise of stablecoins offer financial institutions access to quality assets on blockchain systems, making them more robust and practical.
The integration of AI and blockchain has the potential to create open-source models and decentralized communities for incentivizing, governing, and developing AI models.
Deep dives
The Importance of Real Assets in Blockchain
The podcast highlights the growing movement towards using blockchain for real assets, beyond just native tokens like Bitcoin and Ethereum. This includes the tokenization of treasuries and the rise of stablecoins, offering financial institutions access to these assets. The availability of quality assets is seen as crucial for making blockchain systems more robust and practical. This movement is driven by both crypto natives who want access to harder assets and institutions interested in providing that access.
Challenges in the Crypto VC Market
The podcast mentions that the VC market in blockchain has collapsed, with many investors who previously chased the trend now shifting their focus to other technologies like AI. While the overall market experienced a downturn, the podcast suggests that the next wave of companies in the blockchain space are working hard and making progress in developing valuable products. The hope is that this next wave will learn from past pitfalls and build smarter, more sustainable businesses.
Integration of AI and Blockchain
The integration of AI and blockchain is mentioned in the podcast, with the use of AI tools for tasks like writing job descriptions and generating copy. While the podcast notes limited direct involvement in AI development, it suggests that the blockchain and crypto community can provide a good framework for incentivizing, governing, and creating a community around the training of AI models. There is potential for AI and blockchain to intersect by building open-source models and leveraging decentralized communities to drive model governance and development.
Future of Social Media on Blockchain
The podcast explores the idea of leveraging blockchain technology to address concerns around centralized control and power in social media platforms. There is skepticism towards existing platforms' ability to influence and manipulate content, which has led to a desire for a more decentralized and community-driven approach. The podcast also introduces the concept of making bets on individuals or internet personalities, allowing users to directly monetize and follow their favorite influencers. The hope is to create an ecosystem that is more user-centric, provides more control over personal data, and enables better portability across platforms.