Although cryptocurrency enthusiasts can use the text-based artificial intelligence (AI) platform ChatGPT for entertainment purposes, such as writing a rap song about Bitcoin (BTC), its utility in the crypto space extends far beyond mere entertainment value and into the realm of crypto education and adoption.
According to a blog post by Binance on February 10, ChatGPT generates human-like answers to inquiries on a variety of subjects, including blockchain and cryptocurrency technology, enabling newcomers to learn about ideas like proof-of-work (PoW), Bitcoin mining, and other similar ones.
According to the crypto exchange’s findings:
“ChatGPT has the advantage of being able to assist in the clarification of concepts in an interactive and conversational manner. Users can also continue to ask it questions until they feel they have fully grasped whatever crypto-related topic they are interested in.
ChatGPT and crypto education
Indeed, ChatGPT has the ability to simplify complex concepts and present them in a way that is understandable to a beginner, as the Finbold team discovered when it asked the chatbot to explain Bitcoin in the manner of a 1920s mobster. The results were amusing while also being very informative.
For users who want to dive deeper into the crypto world, the AI bot can shorten the learning curve and make it easier for individuals and businesses to get started with crypto, thereby increasing cryptocurrency adoption.
As its capabilities evolve, ChatGPT may be able to assist more advanced users in coding crypto trading bots and terminals, as well as smart contracts, allowing them to actively participate in building the innovative industry, according to the Binance team.
For the time being, the chatbot can provide insights into the future behaviour of specific cryptocurrencies, such as the potential price of Shiba Inu (SHIB) or the XRP token in 2030, as well as weigh in on the legal battle between the United States Securities and Exchange Commission (SEC) and Ripple.