Dr. Ben Goertzel, a renowned AI scientist, entrepreneur, and CEO of the AI-based SingularityNET platform. Dr. Goertzel was a guest on the famous the Joe Rogan podcast. While on the podcast, he discussed several things from AI to Blockchain for dummies and how as a technology blockchain would influence our future.
Dr. Goertzel is an AI author and research professor at the Xiamen University of Technology, China. Apart from being a scholar, he is also involved with various projects related to fintech, robotics, and AI industries. His recent venture SingularityNET is a blockchain based AI marketplace. The project aims at creating a platform where people can build a product based on AI, share and monetize it without any scalability issue.
The project also launched its coin AGI last December through the ICO, and it was quite successful, given they amassed $36 million in just a minute. Even the current bearish trend of the market does not seem to affect the value of AGI as it showed an upward trend of 20% when compared to Ethereum.
The podcast started with Joe Rogan asking Dr. Goertzel to explain to him what blockchain is in layman’s term and why it is still a confusing subject?Dr. Goertzel agreed that there are many confusions attached to the word blockchain, which is nothing more than a democratic form of barter or distributed ledger. The decentralization distributes the authority of making changes into the system to almost everyone. In the case of banks, if they want to implement new changes, they do it right away, without bothering about the reactions. However, in a distributed ledger system, for a new amendment to come in, atleast 500 out of 1000 people need to agree with the new arrangement.
Joe Rogan further asks about different terms associated with the blockchain and cryptocurrencies, like what is Ethereum, what are smart contracts and how prevalent is Ethereum.
Dr. Goertzel then explained the different terms related to the crypto world. He further talked about how smart contracts work and how these smart contracts would eventually cut out any need for a middleman. He also answered the questions related to ethereum blockchain and how popular it is.
Dr. Goertzel further talks about the different use cases of blockchain apart from cryptocurrencies. He emphasized on the implementation of blockchain in various sectors of our daily life. He compared the blockchain technology with the early internet when there were fewer users and uses of the technology with only a few applications on the block. Look at it now; we cannot even do even a simple task without the use of the internet at some level.
The same holds for the blockchain; its new, most people are not aware of the potential it contains, the ones who know can’t see it further than the cryptocurrencies and monetary gains. But, eventually, the technology would mature enough to be incorporated at a larger scale.
AI even though have been in the forefront of the technological world for quite some time; it has created the same aura as the blockchain. People think AI as a tech of the future and usually associate smart robots taking over the world. However, the truth is AI is a combination of different computers and humans interacting enough and feeding the system with information. Since the computer’s memory can be controlled and it does not suffer from memory loss, the data system becomes more complex and enormous.
Just like blockchain, people would not like to see the control of such a complex system in the hands of few. Thus blockchain would bring in decentralization factor into the picture, and AI would manage blockchain, thus helping each other to progress.
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