AI & Web3 - similar but different

They hype & the $$$ are flowing from venture capitalists into AI startups…it all feels very familiar. It feels like the rush into crypto/web3 companies. The big difference is end consumers are quickly interacting and finding value in hundreds of AI applications. It’s very easy to use ChatGPT.

As much as I am a believer in crypto/web3 and the uses of blockchain for things like verification (we invested at Social Leverage in Ribbon) or Ticketing (Tixologi), the majority of crypto applications aren’t used by the common person. Crypto, Web3, Defi….it’s still confusing to most people. This is where AI is really winning.

AI is being integrated into every industry, every company and the use cases are endless. Everyone can wrap their head around having an AI assistant help them book travel plans, help investors make better investment decisions, and it’s exciting to think about the ability to summarize large documents. Give me the cliff notes!

Many people have said “Crypto won’t work until we have real consumer applications” and I think we still are working on this at scale. Metamask is still hard to use. I am a believer that Blockchain will become like AWS, a piece of technology that companies use, and not something that defines the company. Blockchain will be what allows companies to build with transparency, but will not define a company. I look forward to seeing the next wave of companies built using blockchain, but while we wait for that to happen, we have no shortage of AI!