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AI needs guardrails; enterprise blockchain has a role to play

In an astonishingly brief period, artificial intelligence (AI) has gone from the stuff of science fiction to a very real presence in the here and now, with significant ramifications for the world as we know it.

Not a day goes by without fresh reports of AI making further inroads—welcome or unwelcome—into different avenues of society. These reports illustrate AI’s capacity to disrupt any number of sectors, everything from business, the arts, science, government operations… few sectors appear immune.

All disruptive technologies spark similar concerns, stretching back to the original Luddites following the introduction of machinery into English textile mills in the early 1800s. I’m not yet convinced that AI must inevitably lead to the kind of malevolent ‘self-aware’ systems envisioned in the Terminator movies—although James Cameron is already making the rounds warning of the dangers of AI’s weaponization—but there will definitely be people who’ll need to retrain for different skills as AI’s capacities grow.

The growing awareness of AI’s capabilities followed the public being granted access to a number of programs that create text, images, videos, and musical compositions based on text prompts. The resulting creations left a lot of users slack-jawed after reading, seeing, or hearing the seemingly impossible.

As might be expected, some AI-generated images, videos, and music are better than others. The image software can struggle to render things like hands, while many of the singers belting out other people’s songs are easily detectable as bogus.

There are concerns regarding AI text generators’ tendency to sound authoritative even when they’re talking utter bullshit—potentially fatal bullshit. A New Zealand grocery chain recently found itself doing damage control after its in-house chatbot responded to a customer prompt for making an economical meal from water, ammonia, and bleach. The resulting ‘Aromatic Water Mix’ suggestion was, in reality, a recipe for chlorine gas, which hasn’t been popular since World War I.

The need for adult supervision

Public opinion may be split on whether AI will be our savior or our downfall, but one thing is clear: it can’t be the former without some technological guardrails, which is where enterprise blockchain comes in.

The basic problem with large language model (LLM) text generators is a formula as old as time: garbage in = garbage out. Simply put, randomly ingesting all available online information will invariably suck in as much bogus data as verifiable truth.

There are also occasions when AI makes up what it doesn’t know. Consider the lazy lawyers who submitted an AI-generated court filing rather than spend time doing their own research. Their failure to abide by the ‘trust but verify’ maxim led to their being sanctioned by a court for attributing fake opinions to real judges. (The court of public opinion may yet leave these attorneys without a practice.)

The situation will get progressively worse as AI models reabsorb AI-generated ‘alternative facts,’ making each new iteration that much further from the truth. Conversely, an AI model trained purely on authentic data from publicly verifiable sources would be a world-beater.

Research groups would benefit from a blockchain-backed AI system by allowing end users to confirm that reports and studies do, in fact, represent the legitimate output of these entities.

Blockchain-based AI could also ensure artists of all sorts (verbal, visual, aural, etc.) are properly compensated for derivative works based on their creations, assuming that ownership of those original creations is registered on the blockchain.

One chain to rule them all

Which is where the BSV Blockchain comes in. BSV is the only blockchain that has proven its ability to scale unbounded, making it the only blockchain capable of handling the immense data management needs of enterprises and governments. (BSV also stands alone as the only digital asset that doesn’t have to worry about financial regulators classifying it as a security rather than a currency.)

BSV is also the only blockchain capable of completing the internet’s development. It’s the only chain capable of handling the immense volume of new addresses possible under IPv6. The only chain that’s also economically equipped to handle all this data, thanks to transaction fees measured in fractions of a penny.

For a while, all you heard from ‘crypto’-focused VCs was the promise of Web3, but that roar has since become a whisper. It wasn’t because Web3 was a bad idea; it was because none of the blockchains that these VCs supported could scale to the level necessary to take Web3 beyond the theoretical.

Web3 is about reversing the transfer of power that occurred between the internet’s early days and the Web2 centralized data-harvesting model that followed. Returning control over personal data to the end user will allow individuals to effectively negotiate who has access to their data, how much of that data can be accessed, how often and for what purpose.

The role that an infinitely scalable blockchain will play in realizing all of the above was all the justification Ayre Ventures needed when it recently made the single-largest blockchain IP investment to date. The CHF500 million ($549.2 million) equity acquisition of nChain was based on its patent library, which Forbes described as impacting “everything from the US$1 trillion cryptocurrency market to corporate implementations built by some of the largest companies in the world.”

Technological advances can (and do) inspire both optimism and fear, but it’s up to us to determine how these technologies impact society. With a little help from blockchain, AI doesn’t present any challenges that we can’t meet while offering opportunities too good to pass up.

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CoinGeek TV: Calvin Ayre talks BSV growth over the years and the future it holds

YouTube video

This article was originally published on CoinGeek on July 5, 2022.

Calvin Ayre joined Kurt Wuckert Jr. on CoinGeek TV to discuss why he is still fighting for Satoshi’s vision despite the opposition and what he believes the future holds for Bitcoin SV.

Ayre is the founder of Ayre Ventures, a global investment group through which he has invested in many of today’s biggest Bitcoin ecosystem’s success stories. He is also the founder of CoinGeek. He joined Wuckert on Day 2 of the BSV Global Blockchain Convention in Dubai, which incidentally was also his birthday.

As Wuckert noted, the Dubai event is the biggest by far, attracting the highest number of attendees and online streamers. “I can feel the energy building,” Ayre stated while announcing that the next event will be in London, and he expects that to be even bigger.

“The difference with what’s going on here compared to when we started the conference series in 2018 is that right now people are talking about their products with actual performance metrics. Before, it was theoretical,” he said.

Calvin Ayre on CG TV Dubai with Kurt Wuckert Jr.

The event was the first in Dubai, a city that’s gained global recognition for its blockchain adoption and integration. Ayre believes that this recognition is deserved as Dubai has a government that’s always willing to invest in and experiment with new and emerging technologies. Dubai, and the wider United Arab Emirates, have especially embraced BSV blockchain because the focus is on utility and not hype.

Ayre has been in Bitcoin for several years now and he says the journey has been “frustrating in a good way.” He would want to see things move much faster, but he appreciates the Bitcoin ecosystem’s growth over the years.

On why his tune never changes regarding Bitcoin, the gambling industry pioneer told Wuckert that it’s “because no other product can do what this technology does…if you’re really trying to solve enterprise-size data problems, you’ve got no other choice. This is the only game in town.”

Bitcoin SV is technically superior to any other blockchain network in the market by a wide margin, the other blockchain networks are called hobby platforms. And since the detractors couldn’t fault BSV on technical or application grounds, they have focused on attacking the personalities, with Dr. Craig Wright being the prime target. However, Satoshi has an impressive record in court case, and this is positively impacting BSV.

“That’s helping change the narrative around this product because that cloud of misinformation targeted at the technology by attacking the person is lifting,” he said.

Calvin Ayre on CG TV Dubai

However, even more importantly, more and more people building on BSV are proving that ‘the technology works as advertised.’

BSV is an enterprise blockchain, and with this, it has attracted several companies handling enterprise-level data. This ranges from those solving supply chain and social media challenges to games that process millions of transactions a day. And as the ecosystem grows, there will be more synergy between different players with shared tools that make developing an application on Bitcoin SV way easier than it is today, Ayre noted.

This growth will continue and even accelerate in the coming years. Ayre expects BSV to attract more and more companies each year, telling Wuckert that while what BSV has achieved is quite notable, it’s quite a small ecosystem compared to the size of the industries we’re trying to revolutionize.

One of the biggest factors for growth in the coming years is targeting regions other than North America. As Ayre noted, most of the people threatened by Bitcoin’s unbounded scaling are based in the United States, and as such, BSV gets much better reception in Europe, Asia, the Middle East, and Africa.

In closing, Ayre has this piece of advice to everyone: Take your time and do your own research on what Bitcoin is capable of.

Watch the BSV Global Blockchain Convention Dubai 2022 Day 1 here:

YouTube video

Watch the BSV Global Blockchain Convention Dubai 2022 Day 2 here:

YouTube video

Watch the BSV Global Blockchain Convention Dubai 2022 Day 3 here:

YouTube video

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What’s next for Bitcoin SV, Calvin Ayre explains

This article was originally published on CoinGeek on November 30, 2018.

The CoinGeek Week conference is in full swing in London and all of those who are in attendance are experiencing an exciting chance to see what is going on with Bitcoin SV and the entire crypto ecosystem. There is a lot of activity on the agenda and a lot to discuss, but CoinGeek founder Calvin Ayre took a few minutes out of his schedule to sit down with Bitstocks, the UK’s first crypto market advisory firm, to discuss what is happening with Bitcoin SV and where things are headed.

In the podcast, which is available on YouTube, Ayre talks about how he began to dabble in cryptocurrencies in 2010, but didn’t get really involved until 2015 when he met Dr. Craig Wright. They shared a lot of the same opinions regarding what cryptocurrency is and what it can be, leading Ayre to jump in completely to help build the space.

As is the case with many, when it was obvious that Bitcoin Core (BTC) was veering off the original path of what cryptocurrency was meant to be, Ayre played a role in ensuring that the path was kept alive through Bitcoin Cash (BCH), the only cryptocurrency that maintained the original Satoshi Vision. He adds that cryptocurrency was already mature when it was created and didn’t need to be constantly tweaked, a premise that was designed to be followed with BCH.

Just as BCH was initially intended to keep cryptocurrency moving forward as a true peer-to-peer currency, once it became obvious that certain developers were once again intent on changing the business model, Bitcoin SV came about to ensure that the original cryptocurrency model would continue.

Ayre also points out the recent stress test of Bitcoin SV, which proved what many have been asserting all along—on-chain scaling not only works, but it works well. The stress test saw 1,500 transactions per second, which is higher than what has been seen with Segwit, Ethereum and Ripple combined.

Within a year, 8,000 transactions are anticipated by allowing blocks that are two gigabytes in size. As Ayre points out, Bitcoin SV is the “only trustless, decentralized public blockchain,” and this is what is going to help drive adoption. It’s obvious that the consumer market needs to be educated on the merits of cryptocurrency in general, but this is coming and this education will allow everyone to see why Bitcoin SV is the original Bitcoin.

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