- ChatGPT has impressive speed, adaptability, accuracy, natural language processing and a wide scope of information.
- With the proper parameters and given conditions, ChatGPT can generate a smart contract code with little to no errors.
- Upon regeneration of some questions, the answers might vary by omission or addition but not contradiction.
Since its launch, there have been many opinions about the new AI technology ChatGPT. Entrepreneurs see it as an explosive opportunity towards developing products, services and multiple other solutions. At the same time, many journalists and social scientists are worried that the new technology might eat into their jobs.
Despite these varied opinions, ChatGPT promises a frontier to enormous possibilities. More so, the tool has various integrations with the transforming inventions of the 21st century, web3 and cryptocurrency. To better understand the tool’s potential, let’s first define what it is and how ChatGPT works.
What is ChatGPT
Chat Generative Pre-trained Transformer (ChatGPT) is a computer program that stimulates humanlike intelligence and behaviour. The program is trained to engage in conversation with its users naturally and engagingly. OpenAI, a company under Elon Musk and a team of other AI experts, launched the AI tool in November last year.
Users have reported using the bot for all sorts of things, such as performing translations, conversions, writing letters, and research thesis, among many other things.
ChatGPT in crypto
Crypto users have engaged the AI tool in technical tasks such as finding bugs and codes, creating automated trading strategies and even making an entire cryptocurrency wallet from scratch. With these possibilities, with the proper parameters and given conditions, ChatGPT can generate a smart contract code with little to no errors. The AI tool can produce natural language explanations of the logic behind the smart contract and even give scenarios for its use.
How to access ChatGPT
Interestingly, you only need your email to log in to the AI tool. However, upon login, they have a disclaimer that the feedback they give might not be 100 per cent true. They also give a warning against you sharing any sensitive information. To access the tool, click here.
We got to ask ChatGPT several questions, which is how it responded.
Q: The state of cryptocurrency in Africa
ChatGPT: The use of cryptocurrency in Africa is a growing trend, with many countries on the continent seeing an increase in adoption and interest in digital currencies. Despite the lack of clear regulations in many countries, some African nations have embraced the technology and are working to promote its use. The most popular cryptocurrency in Africa is Bitcoin, followed by Ethereum and Litecoin.
In countries like South Africa, Nigeria, and Kenya, there is a vibrant community of cryptocurrency users and a growing number of businesses accepting digital currencies as payment. However, in other countries, the use of cryptocurrency is more limited, and there may be regulatory hurdles to overcome.
Overall, the state of cryptocurrency in Africa is in a state of growth and development. With increasing awareness and acceptance of digital currencies, it’s likely that we will see more and more people in Africa using and benefiting from cryptocurrency in the future.
Q: How do I create my cryptocurrency
ChatGPT: Creating your cryptocurrency can be a complex and technical process. Here are the general steps you would need to take:
- Develop a concept for your cryptocurrency, including its intended use and target audience. Develop a whitepaper, which is a document that outlines the technical details of your cryptocurrency, including how it works, how it is mined, and how it is stored.
- Develop the code for your cryptocurrency using a programming language such as C++ or Go.
- Test the code thoroughly to ensure it is free of bugs and vulnerabilities.
- Launch the cryptocurrency by releasing the code on a public blockchain and mining the first batch of coins.
- Promote your cryptocurrency to potential users and investors
Q: How many countries have legalized crypto in Africa
ChatGPT: As of my knowledge cutoff, some African countries that have legalized the use of cryptocurrency include:
- South Africa: The SARB has issued guidelines for using cryptocurrencies, which are generally considered legal in the country.
- Ghana: The Bank of Ghana has issued a statement acknowledging the use of cryptocurrencies. They are legal in the country.
- Namibia: The Bank of Namibia has issued a statement acknowledging the use of cryptocurrencies, and they are legal in the country.
- Zimbabwe: Cryptocurrency is legal in Zimbabwe, and the Reserve Bank of Zimbabwe has issued a statement acknowledging the use of cryptocurrencies.
- Kenya: While cryptocurrencies are not illegal in Kenya, The Central Bank of Kenya has warned the public about the risks of using them.
- Nigeria: While cryptocurrency is not illegal in Nigeria, the Central Bank of Nigeria has warned the public about the risks of using them.
However, upon regeneration of some questions, the answer may vary either by omission or addition, but not contradiction.
ChatGPT has impressive speed, adaptability, accuracy, natural language processing and scope of information.
ChatGPT attracts many investors.
Among the investors in OpenAI, the parent company of ChatGPT, including Elon Musk (Co-founder of OpenAI and CEO of Tesla and SpaceX); Sam Altman, Co-founder of OpenAI and President of Y Combinator; Ilya Sutskever, Co-founder of OpenAI and Research Scientist; Greg Brockman: Co-founder of OpenAI; Wojciech Zaremba: Co-founder of OpenAI and a research scientist; John Schulman: Co-founder of OpenAI and Research Scientist; Reid Hoffman, Co-founder of LinkedIn; Peter Thiel, Co-founder of PayPal among other investors.
ChatGPT is still in its early stages of development, and the web3 and blockchain industries will be at the centre of influence of the technology.