The a16z report highlights the crypto sector's pivotal role in tackling challenges within artificial intelligence (AI), particularly as AI development becomes increasingly costly and centralized.
Blockchain technology offers a decentralized alternative that promotes broader access and fairness in AI initiatives. The report reveals that the integration of AI in crypto projects has risen to 34% from 27% in the previous year, with many efforts focused on democratizing AI resources.
An example is Gensyn, which has launched a decentralized network that enables smaller developers to access the computational power needed for AI training, thus lowering financial barriers.
Additionally, blockchain enhances transparency in AI-related areas such as intellectual property and content verification. Projects like Near and Story utilize blockchain to ensure creators are credited properly, tackling issues surrounding uncredited datasets in AI.
As public trust in technology declines, dropping from 50% to 35% in five years, the transparent nature of blockchain could help restore confidence. With ongoing advancements, crypto developers are increasingly incorporating AI into their projects, refining smart contracts and improving decentralized organizations.
This convergence is driving innovation in various sectors, including identity verification and content authentication, indicating a transformative future for both AI and blockchain.
The XRP Ledger (XRPL) has officially launched its Ethereum Virtual Machine (EVM) sidechain on mainnet — marking a major milestone in its effort to bridge XRP’s payment efficiency with Ethereum’s smart contract capabilities.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.