Although the text-based artificial intelligence (AI) platform ChatGPT can be used by cryptocurrency enthusiasts for amusement, such as to write a rap song about Bitcoin (BTC), its usability in the crypto space spans way beyond the bare entertainment value and into the sphere of crypto education and adoption.
As it happens, ChatGPT produces human-like responses to questions across an extensive range of topics, including blockchain and crypto technology, allowing beginners to learn about concepts such as proof-of-work (PoW), Bitcoin mining, and others, as noted in a blog post published by Binance on February 10.
According to the observations by the crypto exchange:
“ChatGPT has the benefit of being able to help clarify concepts in an interactive and conversational manner. Users can also keep asking it questions until they feel like they have fully understood whatever crypto-related topic it is they are interested in.”
ChatGPT and crypto education
Indeed, ChatGPT has the capability to simplify complicated concepts and present them in a manner that is suitable for a beginner, as the Finbold team discovered when it asked the chatbot to explain Bitcoin like a 1920s mobster. The results were amusing but, at the same time, very informative.
For those users who wish to further immerse themselves into the crypto sphere, the AI bot can shorten the learning curve and make it easier for individuals and businesses to get started with using crypto, thus increasing the cryptocurrency adoption rate.
As its capabilities evolve further, ChatGPT could be able to help more advanced users code crypto trading bots and terminals, as well as aid them with smart contracts, thereby allowing them to actively participate in building the innovative industry, the Binance team said.
For now, the chatbot can be quite useful in providing insights into the future behavior of specific cryptocurrencies, such as the possible price of Shiba Inu (SHIB) or the XRP token in 2030, as well as to weigh in on the legal battle between the United States Securities and Exchange Commission (SEC) and Ripple.