Cardano‘s (ADA) creator, Charles Hoskinson, in addressing investors, has warned that the prevalence of crypto scams will increase alongside advancements in artificial intelligence (AI) technology.
Generative Artificial Intelligence Warning from Hoskinson
In a recent assessment video, Hoskinson, expressed his concern about the potential of generative AI, a sub-discipline within the AI field that enables computer systems to create unique models for realistic and creative content production, to be used in fraud activities. He predicts that millions of dollars’ worth of ADA coins will be lost within a year due to such scams. Hoskinson commented:
A year from now, millions of dollars in ADA will be stolen due to generative AI. Regardless of how many times I warn or mention this, remember that you can’t get something for nothing. If it seems too good to be true, then it’s likely a scam. It’s always been this way. I will never ask for your ADA. I will never ask for your private keys. I won’t ask you to invest in a Blockchain. But people will still be deceived and defrauded. Unfortunately, videos and audio will be used to persuade you. The situation is becoming very complex due to generative AI. But this is the reality of the future we are heading towards.
According to the creator of the popular altcoin, the only reliable way to confirm if something is authentic is through the use of a Pretty Good Privacy (PGP) key. He stated, “The only definite way to verify if something is real is by checking it with a PGP key. Because you can’t trust what you see and hear. Scammers are evil people without souls. They just want to steal your money.”
What is Pretty Good Privacy?
Pretty Good Privacy, or PGP, is a cryptography software and protocol used for secure communication. It is employed to ensure data security, maintain integrity, and provide privacy.
PGP is a widely used security tool in areas such as email, file sharing, and data communication. Its primary purpose is to encrypt and authenticate data. The encryption process is used to prevent the comprehension of transmitted data, while authentication ensures the verification of the data source and its integrity.
PGP employs the method of public-key encryption. In this method, each user has a pair of keys. One of these keys is the public key, used for data encryption and shared publicly, and the other is the private key, a secret key that only the user possesses.
