The Silicon Valley investor Balaji Srinivasan predicted that on Monday there would be a convergence in prestige between artificial intelligence and cryptocurrencies, arguing that while the reputation of one of these two areas has suffered, that of the other has increased.
What happened
In an X post, Srinivasan expressed his views on the contrasting origins of artificial intelligence and cryptocurrencies, such as Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE).
“Artificial intelligence emerged from academic research and big technology companies, so it started with high prestige. Cryptography emerged from anonymous bulletin boards and Internet degenerates, so it started with low prestige,” said the former CTO of Coinbase.
AI came out of academic research and big tech, so it started with high prestige.
Crypto came from anonymous message boards and internet degens, so it started with low prestige.
But AI makes everything easy to fake and crypto makes it hard again.
So prestige may converge.
— Balaji (@balajis) December 16, 2024
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He added that while artificial intelligence has the potential to create falsehoods, cryptocurrencies bring authenticity back into the equation. “Artificial intelligence makes everything easy to fake, and cryptocurrencies make it hard again,” Srinivasan argued.
He drew attention to the perceptual difference between the two technologies, with artificial intelligence considered something of “civilizational importance” while cryptocurrencies are underestimated.
Why is it important
Srinivasan’s views come amid growing sophistication in artificial intelligence technology, which was effectively making it difficult for users to identify real content.
A study of Google DeepMind revealed that deepfakes of public figures are more common than AI-assisted cyberattacks, indicating significant misuse.
Adam Mosseridirector of instagram, property of Meta Platforms (NASDAQ:META), stressed the importance of social media providing additional context to help users determine the legitimacy of online material.
On the other hand, Blockchain technology is widely used to establish the authenticity of physical items. Under this, a unique NFT is created to represent the ownership and validity of the entity, and facts about the item are recorded in the NFT metadata.
Items of cultural, religious and historical importance, such as a 300-year-old antique violin and manuscripts from the iconic Vatican Library, have been tokenized and stored on the blockchain.
This content was partially produced with the help of Benzinga Neuro and reviewed and published by Benzinga editors.
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