Cardano founder Charles Hoskinson issued another warning about the use of generative AI to facilitate fraud in a Twitter broadcast. He warned investors to exercise caution as AI technology rapidly develops.
Cardano founder Charles Hoskinson, in a Twitter broadcast, issued warnings about the use of AI to generate false information. Hoskinson, a prominent figure in the crypto space, said that AI-generated fraud was on the rise and could be used to swindle investors and spread misinformation.
Charles Hoskinson: AI-Generated Scams on the Rise
Hoskinson referred to an incident where he was told that someone had been impersonating him, saying,
“I received an email from tonight from somebody who was emailed by a person impersonating me. It was a well-written email and the person was attempting to offer basically a placement in a new medical chain, which of course I’m not building.”
Hoskinson has spoken about the negative consequences of AI before, saying that AI-generated deep fakes would force us to think about the authenticity of the information we consume. He also said at the time that the year or two would see rapid advances in the generation of AI used for fake media.
In the Twitter broadcast, he elaborated on this point, saying,
“…well, the problem is, this technology is growing exponentially…and as a result of it growing exponentially, what will occur in a 12 month to 24 month horizon…will be that videos of me could be manufactured using generative AI…to make it appear that I’m calling to you, talking to you, or soliciting your money.”
Hoskinson Believes Bitcoin Ordinals ‘Could Look Better’
Hoskinson has also been in the news for his views on Bitcoin Ordinals. The founder said that Bitcoin Ordinals “could look better” and said that he only wants “better” for the new form of asset. He also pointed out that Bitcoin Ordinals would be better on the Cardano network than its existing infrastructure.
Bitcoin Ordinals inscriptions have been taking off in recent months, with April and May, in particular, seeing massive spikes. Any potential cross-chain support on Cardano could vastly increase interest in the asset, but that remains to be seen.
Cardano DeFi Ecosystem Grows
The Cardano network has been seeing heavy activity in the past few weeks, with its DeFi ecosystem, in particular, seemingly taking off. Cardano TVL is now sitting at $182 million. This is not near its peak of $322 million in March 2022, but it’s a step in the right direction.
If you want to learn more about the Cardano blockchain and how to stake its native ADA coin, read our guide here!
The DeFi ecosystem of Cardano has been expanding thanks to the likes of MuesliSwap integrating VyFinance. Currently, Minswap dominates the Cardano DeFi landscape, accounting for 35.83% of the TVL.
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