AI Reads 100 ICO Papers and Writes Its Own Whitepaper for the Newcomers and Investors
There was a study conducted by the blockchain researcher Clay Space, who is the founder of Blockspace Media too. He recently conducted a study by feeding Artificial Intelligence (AI) to ICO (Initial Coin Offering) and he claims that he can himself produce it. Artificial intelligence can read 100 ICO papers.
Space has an artificial system who earlier had no knowledge about the cryptocurrency or initial coin offering but he had to read many of the ICO papers and that also causes to write his own whitepaper – a report or a guide that informs readers about complex issues, it is there for the problem solving and a reference. After so much time investing in the artificial intelligence writing 100 of papers, it came with an ICO whitepaper that is a replica of the majority ICO whitepapers that are already existing.
The Format Of The Whitepaper
The format of the whitepaper is with the following structure, first is the Introduction part, second is the Problem section, third is the Uses of the token, fourth is the Purchasing ICO section, the fifth is the Uses of funds and last is the team structure.
There are following uses of the blockchain according to the artificial intelligence whitepaper in the third portion and they are as follows: voting, governance, decentralization, immutability, staking etc. In the fourth section it the general public sale and structure which is the most common in the ICOs market.
It is expected to raise 20 million dollars in 25 days with the minimum capacity of 40 trillion dollars. By any chance, if the amount is not matching the minimum then all the money will be returned to the team. All the transactions and investment that are to be made is possible in Bitcoin, but it is recommended in Ethereum and too from your wallet. Your privacy is protected.
In the fifth section, there is the distribution of funds like the majority of the ICO whitepapers in the market. About 80% of the funds will go to the development wing and the rest 20% of the funds will be distributed to the market.
The last section tells about the team effort in bringing the blockchain to the new era. It has been almost 40 years of experience.
Almost a very similar structure of the Artificial Intelligence generates the whitepaper to be a look-alike in the market. The pattern is also very predictable with the same blockchain words, and jargons used everywhere and after going through the 100 ICOs, AI has the skills developed to write its own whitepaper. The AI whitepaper can be distributed to the newcomers as well as the investors in the market to gain some knowledge.
The conclusion about the Space shown that there was a lack of originality in the markets of ICOs. It was also very predictable at the same time. It has shown efforts to prove the markets but was not that successful as it was very similar and was not a new one.