Corporate analytics platform MicroStrategy actively uses ChatGPT to make price forecasts for cryptocurrencies.
This time, GPT-4 provided a detailed answer to the question: WHY DOES THE WORLD NEED CRYPTOCURRENCIES?
The AI highlighted 8 main reasons:
1. Decentralization, which means no government or financial institution can control the asset.
2. Access to financial services for people who don’t have access to banks, but who have a smartphone and internet.
3. Minimal transaction fees compared to traditional financial services. Especially favorable for cross-border transfers.
4. Blockchain makes it easy to verify and track transactions, which greatly reduces the risk of fraud or corruption.
5. Cryptocurrency is deflationary.
6. High degree of confidentiality in the transfer of assets.
7. Investment attractiveness and potential for portfolio diversification.
8. Cryptocurrencies allow “to automate and optimize various financial processes, which leads to increased efficiency and new business models.