Global Courant
According to Scott Helfstein, an automation revolution is taking place and blockchain technology could play a central role in it. “As we think about… this wider transition to automation and digitization, blockchain can really play an important role in securing information and facilitating data management,” he said. Global X ETFs head of thematic solutions, Helfstein, spoke to CNBC Pro this week at the Digital Assets Council of Financial Professionals’ VISION conference in Austin, Texas for a broad talk on AI, how to get exposure to crypto and the need for a spot bitcoin ETF in the US One of the big challenges of AI is that there is often no way to easily identify where information comes from in some algorithms, but blockchain technology offers a transparent and auditable technology as a possible solution. Helfstein broke AI into several levels, from infrastructure providers like semiconductor companies and graphics chip makers to algorithm providers like OpenAI and its ChatGPT. However, blockchain technology is everywhere and a way to secure information fed into AI algorithms. Crypto is “interesting,” he said, but business investment is flowing into automation and blockchain will play a “critical” role in its development. While that use case could serve as a stepping stone to wider adoption and adoption of crypto, he added. “As people interact with private blockchains, they will see some of the benefits of the private blockchains and that will support some of these public blockchains, including cryptocurrencies like bitcoin and Ethereum used in Web 3.0 applications.”
