A debate is unfolding within the Web3 community about whether cryptocurrency will be the preferred currency for Artificial Intelligence. Though some have expressed skepticism about the potential of crypto to take a lead role in the AI ecosystem, a good number of Web3 enthusiasts are confident that such a development is inevitable. Let’s go through some important arguments that emerged as part of the debate. Ready?
Crypto’s Role in AI Ecosystem: Highlights of the Debate
In an X post, a Web3 enthusiast, identified as ‘Navel’, stated that crypto would be the main currency in the AI future, triggering a discussion over this matter. The post received several strong responses, supporting, as well as dismissing, the argument.
Liron Shapira, a podcast host, in his response post, expressed his strong disagreement with the statement, projecting the fact that as long as customers prefer fiat currencies for transactions there is no reason for AI to choose crypto over fiat.
Xcaliber had a different view. In his response post, he highlighted the close link of AI to decentralised systems. He argued that the AI’s reliance over decentralised systems would make it essential for the sector to embrace cryptocurrency.
What Experts Say About AI’s Future with Crypto
An Web3 expert, identified as Wuyue.eth, in a X post, presented at least five reasons why Ai and crypto would work together in future.
As the first reason, he highlighted the decentralised nature of AI and crypto and their reliance on blockchain technology. Secondly, his post pointed out how cryptos could enable small payments for data. Thirdly, it projected the possibility of AI to pay for services on its own. Fourthly, it stressed how developers could earn crypto in return for their contribution to AI projects. And, finally, it spoke about how it would be possible for AI to participate in the economy such as buying and selling services, without the assistance of humans.
AI Tokens Market Scenario: An Overview
The total market cap of AI coins is $24.3 billion. It has seen a change of at least -4.1% in the last 24 hours. Render, Bittensor and Artificial Superintelligence Alliance are the trending AI tokens right now. But, all these have suffered a downtrend lately. NEAR Protocol, Internet Computer, Artificial Superintelligence Alliance, Bittensor and Render are the top five AI tokens on the basis of market cap. In the last seven days, NEAR Protocol has seen a rise of +12.0%.
During the same period, Internet Computer, Artificial Superintelligence Alliance and Bittensor have experienced 5.1%, 43.0% and 8.6% rise, respectively. Render is the AI token that has displayed the highest rise in the period after FET. RENDER has reported a rise of at least 31.5%.
It can be concluded this way that it may be inevitable for AI to embrace crypto. There are high chances for crypto to become the main currency of the AI ecosystem in the future.
Also Check Out: Nvidia’s Earnings Release: A Catalyst for FET Price and AI Token Surge?
Source: https://coinpedia.org/news/is-crypto-set-to-become-the-currency-of-ai-experts-weigh-in/