Contained in the bizarre world of quantum mechanics—where physical matter has properties of both particles and waves, and subatomic particles exist in multiple states at one time until observed—may lie the key to unparalleled computational speed. While still highly experimental, governments have been investing in research into “quantum computing” for years, and a recent article in Wired notes that last year venture capitalists “plowed a record $1.8 billion into companies working on quantum computing hardware or software worldwide…nearly five times the amount invested in 2019.” Whereas the basic unit of information in traditional digital electronics is the bit (a logical state with two possible values, typically expressed as 0 and…
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Crypto & AI: Competition, Convergence or Both?
Part two: Smart Contracts, Fraud Detection & Portfolio Management
Blockchain is increasingly presenting new opportunities for applications in combination with AI. In fact, Future Market Insights estimates that the global market for blockchain AI will skyrocket to $3.5 billion by 2032, with a 23% CAGR from 2023 to 2033 driven in part by small and medium enterprises adopting AI-based blockchain platforms to enhance smart contracts, payment systems and more. “Reaching consensus on reality” Paul Brody, Global Blockchain Leader at consulting powerhouse Ernst & Young (which has also become a blockchain powerhouse owing in large part to Paul’s thought leadership the last 7 years—including his early advocacy of Ethereum as the platform of choice for enterprise), has a characteristically nuanced…
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Crypto & AI: Competition, Convergence or Both?
Part one: AI-based Trading
The convergence of cryptocurrency with artificial intelligence (AI) is attracting significant attention from builders and investors alike. “We’ve never been more excited about crypto and we continue to invest across all stages,” Paradigm co-founder Matt Huang said in a recent tweet, adding, “We’re also a group of curious nerds and the developments in AI are too interesting to ignore.” As one example, AI-metaverse startup Futureverse raised a $54 million in Series A funding this month, with growth equity fund 10T Holdings leading the round, joined by Ripple Labs. Naturally, it has also caused pundits to speculate on an exponential increase in crypto values. Arthur Hayes, BitMEx co-founder and former CEO,…
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The January Crypto Crash
Why is it happening?
Massive selloff Since 2022 started, the total crypto market cap has seen a decline of nearly 600 billion dollars. The last week in particular has been extremely volatile. Bitcoin is down over 16 percent over the last 7 days, according to CoinMarketCap. Ethereum is down over 24 percent, and nearly every other top digital asset is down over 10percent. A big factor of the selloff comes from stocks dropping and inflation continuing to rise. Everything from groceries to housing is getting more expensive, and there is fear in the air among retail investors. An additional part of this selloff comes from Russia’s announcement for a possible ban on cryptocurrency trading…
