Decentralized AI, Ethereum ETPs, and Legal Support for Creators

The convergence of artificial intelligence (AI) and cryptocurrency is gaining more significance, with experts exploring how these fields can offer mutual benefits. As stated by a16z crypto, the increasing computational requirements for AI training create advantages for established tech giants over smaller startups. To create a more equitable environment, it’s crucial for startups to have cost-effective access to substantial computing capabilities. The co-founders of Gensyn highlighted the need for a decentralized, permissionless machine learning protocol capable of training AI models on virtually any computing device worldwide.

AI x Crypto: Centralization vs. Decentralization

This week, the web3 with a16z podcast revisited the AI x crypto discussion, analyzing the conflict between centralization and decentralization. The conversation spanned topics from deepfakes and bots to the necessity of proof-of-humanity in a world influenced by AI. It also encompassed large language models like ChatGPT, user control, privacy, security, zero-knowledge machine learning (zkML), and their roles in media and art.

The Significance of Ethereum ETPs

In recent months, U.S. stock exchanges have launched exchange-traded products (ETPs) based on Ether, following the earlier release of Bitcoin ETPs this year. While there has been considerable discussion about these ETPs as investment vehicles, their broader effects on the crypto sector are profound. Scott Walker, chief compliance officer at a16z and a former SEC advisor, clarified the distinctions between ETPs and ETFs, along with the respective benefits and drawbacks of BTC and ETH exchange-traded products.

Legal Defense Fund for Crypto Creators

Artists and creators have been pioneers in adopting blockchain technology, including NFTs, to monetize and retain control over their creations. However, they are now facing potential examination by the Securities and Exchange Commission (SEC). In response, a16z crypto and other organizations have collaborated to provide legal services and consultations, allowing artists to engage with new technologies without apprehension of governmental repercussions.

Gaming and Blockchain

The web3 with a16z podcast also explored aspects of game design and the incorporation of blockchain technology in gaming. Hilmar Pétursson, CEO of CCP Games, shared insights on the studio’s blockchain-enabled transformation of EVE Online and the call for playtesters. The dialogue included discussions on the technology and economic framework of the game, how niche communities can infiltrate mainstream culture, and the effects of slow databases on gameplay.

Trusted Execution Environments (TEEs)

Trusted Execution Environments (TEEs) offer a secure environment for running applications, ensuring safety regardless of the surrounding computing infrastructure. TEEs are evolving alongside advancements in blockchain technology. Ari Juels from Cornell University examined the application of TEEs within blockchain systems, focusing on block-building and the equitable ordering of user transactions. He also addressed issues related to security and privacy-preserving solutions in TEEs.

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