Key takeaways:
- Binance has published a blog post about ChatGPT’s potential to increase crypto adoption
- The world’s largest exchange believes ChatGPT can help beginners learn about crypto faster and help make crypto businesses more efficient
“ChatGPT offers great promise” for making crypto more accessible, per 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 the adoption of crypto among both 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 an especially powerful tool.
According to Binance, ChatGPT could “make the [blockchain] technology more accessible to a wider audience.” The primary reason for that is ChatGPT’s ability to condense complex information into accessible human-like responses that can allow beginners to learn about crypto quickly. An excerpt from the blog post reads:
“In crypto adoption, the biggest benefit is how [ChatGPT] it can be used to answer questions about how to use crypto and the technology behind it.”
In addition, Binance believes that ChatGPT can break down other barriers as well, as it can automate some customer support tasks, making it easier and more efficient “for individuals and businesses to get started with using crypto.”
Moreover, ChatGPT can be used by advanced users as well, as we’ve already seen trading bots powered by ChatGPT, and smart contract code auditing done by the AI chatbot.
Binance did acknowledge that the technology is far from perfect, as it possesses no real intelligence and can be only as reliable as the information that it is fed.
Following the public rollout of ChatGPT, various AI technologies and projects across different industries have been receiving a great deal of interest. This can be seen in the crypto market as well, as AI-focused blockchain projects such as SingularityNET (AGIX), Fetch.ai (FET), and Oraichain (ORAI) rallied by triple digits.
