The founder of blockchain media and a blockchain researcher, Clay Space recently helped the crypto world by experimenting with AI as they help them to feed 100 initial coin offering (ICO) whitepapers and then eventually after doing all the research, AI has produced a crypto whitepaper by their own.
As we know AI and machine learning are revolutionizing business space and helping organizations to achieve key goals, obtain actionable insights, perfect analysis through which innovative products and services are producing.
So by utilizing AI and machine learning, Clay space has given them enough knowledge of crypto whitepapers by feeding them 100 ICO papers and so helped them to write a complete crypto whitepaper which resembles the structure of existing crypto whitepaper.
So, in third one which is ‘Uses of the token’, AI system has mentioned following use cases of the blockchain which is: decentralization, immutability, staking, DAO, consensus, voting, and governance, basically every buzzword available in the blockchain sector.
The fourth one called ‘purchasing ICOs’, consist of normal public sale processes and structure which is mostly used by existing ICOs in the market. The section, which if replaced with a piece of outstanding ICO financial specialists wouldn’t have the capacity to perceive the distinction:
“It will seek to raise 20 million dollars over twenty-five days, with a minimum cap of 40 trillion dollars. If the minimum is not raised before the end of the ICO all money will be returned to the team. Investment can be made in Bitcoin but should always be made in Ethereum and from a wallet that you own. Your private keys like to have privacy.”
The fifth part which is ‘Use of funds’ is more identical to the maximum of the ICO whitepapers in the market. It stated that eighty percent of the collected funds, will go for the development process of the platform and rest 20% of the funds will be distributed in the market.
This is what exactly stated by AI system for the fifth portion: “80% of funds will go to developing the platform. 20% of funds will go to supporting the market. The final 35% of funds will pay team members and travel plans. Token burns will take place when a user joins the Telegram and Slack channel and talks about fire,”
And the last portion which is ‘team and advisors’ stated, “our team is big and has over 40 years of blockchain experience. Vitalik Buterin was critical in creating Ethereum Classic and is advising our ICO.”
The shortsighted structure of the AI-create whitepaper precisely reproduces the majority part of ICO whitepapers in the market. The example of ICOs has turned out to be so evident and unsurprising, with recognizable trendy expressions and blockchain languages, that by perusing 100 ICOs, AI has picked up the capacity to compose whitepapers that can be acquainted with the two newcomers and existing speculators in the market and be persuading enough for most.
The research led by Space has demonstrated the consistency and absence of innovative nature in most upcoming ICOs and so it is difficult to expect anything new from ICO market but still, thousands of projects are entering the ICO market in a month.