Traction is a critical element in the success of any technology, and this holds true for both AI and blockchain. If could redefine attraction into a mathematical equation would be something like this:
Traction = adoption x usage x value
In the case of AI and blockchain, traction is essential for several reasons.
- Firstly, both AI and blockchain technologies are still in their infancy, and widespread adoption is crucial for their growth and development. Traction provides feedback and validation.
- Secondly, Traction multiplies Innovation. As more companies and organizations adopt these technologies, the demand for new and innovative use cases and applications increases. This, in turn, can lead to new research and development opportunities, creating a virtuous cycle of innovation and progress.
- Thirdly, traction can have a significant impact on the value. Blockchain. The value of blockchain-based solutions is tied to their network effects, which rely on adoption and usage. As it facilitates secure and transparent transactions and data sharing, the combination with AI as a system to work efficiently with huge amounts of data it’s very powerful. The more users and applications there are on a blockchain network, the more valuable it becomes.
Are we living a unique revolution in history?
Take a look at this graphic of AI adoption (only ChatGPT, we should add Bing, Midjourney, Dalle, and a very long list).
Just to have something to compare it, from outside the technology field, the Covid took 1 year to reach 100 million users:
Education is the key to unlocking the full potential of AI and blockchain in our world, empowering individuals and organizations to harness the transformative power of these technologies and drive positive change for the future.
Just as an example, there is a Chrome extension called Web3 Summary that helps you understand the in plain words the crypto jargon. You click it when you are browsing a web 3 project and it summarizes you the content. WARNING!!! It’s not 100% reliable. As we use to say, DYOR, don’t trust the AI yet.
Amazing times we are living in.
Yours in crypto and AI.