In recent efforts to ensure the United States has a dominant role in the fields of cryptocurrency and artificial intelligence, Trump initiated a series of moves to position the country advantageously. The Biden administration enforced strict regulations across various sectors, including cryptocurrencies, making significant impacts. Contrarily, Trump’s stance was to introduce a period of deregulation, providing a more relaxed legal framework.
U.S. Cryptocurrency Czar
The U.S. cryptocurrency czar, Sacks, is strategically focused on both artificial intelligence and cryptocurrencies. The exponential growth of artificial intelligence directly supports the expansion of cryptocurrencies, making them inseparable. As AI prospers, technology stocks flourish. As an extension, cryptocurrencies, often treated comparably to tech stocks, also witness growth. The OpenAI explosion at the end of 2022 played a significant role in these developments.
In his remarks, Sacks pointed out the implications of recent collaborations, stating, “The AMD-OpenAI deal indicates that the AI market is booming and highly competitive. Enhancing power production for AI is imperative. Our primary competitor in the AI race is China, and the U.S. must strive to dominate the global AI market share.
I firmly believe there is a strong reason to refrain from selling the latest AI chips to China. I regard Nvidia’s Jensen Huang as a strategic asset in the AI race.”
Sacks suggested an ongoing strategic engagement in the AI field, hinting at further significant steps.
Cryptocurrencies and Artificial Intelligence
Artificial intelligence, to enhance efficiency, can be likened to the discovery of knives in human history. When used correctly, it simplifies numerous tasks, and when combined with qualified human resources, the potential seems limitless.
In the future of cryptocurrencies, the efficiency multiplier will play a crucial role. For instance, the initial failure of the metaverse concept was primarily due to the unrealistic demand for expansive virtual worlds driven solely by human efforts. However, current advancements in AI suggest that unique environments and stories might be feasible in the future.
Additionally, AI will significantly impact cryptocurrencies in multiple areas, from code audits of crypto protocols to rapidly building smarter contracts with enhanced capabilities.