Cardano Founder Issues Critical Warning to Whole Crypto Space

Mathematician and crypto billionaire, creator of IOG and Cardano blockchain Charles Hoskinson, took to the X social media platform (formerly known as Twitter) to point out there is a new major threat to the cryptocurrency space emerging thanks to the recent sharp technology development increase.

These new developments can make credulous cryptocurrency holders part with their assets easily.

Generative AI scams on YouTube emerging

Charles Hoskinson commented on a recent post published by an X user; the latter retweeted another post that features a new type of deep fake generated entirely by artificial intelligence.

The video shows Hoskinson himself talking about a fake ADA giveaway very closely to the manner in which the real Hoskinson speaks. The post stated: “hat sounds exactly like @IOHK_Charles albeit a bit choppy” and predicted that a lot of Cardano users will soon lose their ADA and other crypto assets to these YouTube-based scammers that are getting more sophisticated thanks to AI.

As for Hoskinson, he tweeted that he had been expecting to see generative AI-based scam videos targeting the cryptocurrency space – that was predicted, he reminded the audience. In one or two years, he reckons, these deep fake videos “will be dramatically better” and hardly anyone will be able to “distinguish between reality and the AI fiction.”

Cardano community members in the comments agreed that bad actors are likely to use AI-generated videos a lot in the future, some saying that the state of things in the future with AI scares them. Some also emphasized that authentication methods are necessary to distinguish between actual people and their deep fake copies on the internet.

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AI products getting sophisticated

In the meantime, the AI space continues to develop at an alarming rate. Experts believe that within merely several years artificial intelligence will become powerful enough to replace humans in particular areas that in the past were unreachable for computers – generating original ideas in various spheres of life.

Among them is Elon Musk, who recently admitted that in about three years, AI will be able to write novels as well as J.K. Rowling, make completely new discoveries in physics and do many other things.