Alexis Ohanian, a co-founder of Reddit, foresees a future where artificial intelligence (AI) and blockchain technology, the backbone of the popular cryptocurrency Bitcoin BTC/USD, intersect, generating a fresh demand for image verification.
What Happened: Ohanian expressed his thoughts on social media platform X on Thursday. As per his post, he envisions a scenario where the advancement of AI and blockchain technology will complement each other.
Ohanian pointed out that AI is leading to an unlimited availability of images, resulting in an overflow of them on the internet. This abundance, he argues, will create a situation where the genuineness of images will be questionable.
Nevertheless, he foresees a future where the devices capturing these images could also embed a method to confirm an image’s origin on an unalterable global ledger, or blockchain. This application could provide a practical use for blockchain technology beyond mere speculation.
“Suddenly, you have a great case for the blockchain that isn’t speculative or particularly flashy – it’s utility,” he said in the post.
While Ohanian did not mention any specific projects that could lead in this field, he stressed the emerging market demand for such a solution. He proposed that the capability to verify image ownership could soon become highly valuable, irrespective of one’s status or age.
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Why It Matters: Blockchain or distributed ledger is a technology that underpins several cryptocurrencies like Bitcoin BTC/USD and Ethereum ETH/USD.
Ohanian’s prediction comes in the wake of his recent focus on the U.S.-Japan chip sector through his venture capital firm Seven Seven Six. This strategic move followed a public dispute with early investors on Reddit’s IPO day, as reported on Mar. 21.
In March, Elon Musk, CEO of Tesla and SpaceX, also agreed with venture capitalists’ predictions about the latest trends in cryptocurrency and AI.
Further supporting this trend, on Monday, blockchain-focused venture capital firm Polychain Capital made a significant investment in AI platform Ritual. These developments indicate a growing interest and investment in the convergence of AI and blockchain technology.
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Image Via Shutterstock
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