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All rise for AI ✊
Will AI take over the courtrooms? What about GPT-4? Sam Bankman-Fired and the question of $3.2 Billion. Hacker gives 100 ETH to one of the hack victims.
Hello y'all. This is The Token Dispatch. Shamrao Vital Co-Operative Bank is not the same as Silicon Vally Bank. B.E.L.I.E.V.E.
Joshua Browder, the CEO of AI startup DoNotPay, has just strolled in with his trusty AI lawyer in tow. Will the robot be able to argue a case? Will it be able to negotiate with human lawyers? Will it take over the legal system? We don't know because It was denied entry to the California courthouse.
But why is this good news?
AI-driven legal services could have several positive outcomes, including:
Reducing the cost of legal services in the corporate sector
Reducing the time taken for proceedings
Removing biased legal systems
Making legal information and self-help accessible to everyone
Making lawyers more affordable
Who agrees? A Boston Consulting Group study found that people in less developed economies, such as India, China, and Indonesia, indicated the strongest support for government applications of AI.
DoNotPay: Helps you contest parking tickets, lower your medical bills, appeal bank fees, and dispute credit reports. It's helped more than 160,000 people successfully challenge parking tickets in London and New York, and now it's ready to take on the world!
The Future: The legal community may begin by applying AI to less significant cases because you don't want AI to sentence someone to death (just yet). Or AI might take a better decision, But in 15-20 years!
Heard of GPT 4?
GPT-4 is Here! 🤖 OpenAI just unveiled GPT-4 on March 14, 2023 - and it's a game-changer! 🚀 This version is taking AI to new heights by analysing images and mimicking human speech, and whatnot?
🆕 Better than GPT-3?
One major difference is that GPT-4 is multimodal - it can handle both text and image inputs - whereas GPT-3.5 only processes text inputs. 📝
More capable in terms of reliability, creativity, and even intelligence!
🔍 Where to Access GPT-4?
Wait: Currently, OpenAI is collaborating with a single partner to launch GPT -4's visual input capabilities. But text input is available:
Paid: you can access GPT -4's text input capability through a ChatGPT Plus subscription - $20 a month.
For free: through Bing Chat. 🤑
GPT-4 API is available for developers: Just join the waitlist! 🕰️ OpenAI also recently introduced a ChatGPT API for developers. When signing up for the waitlist, you'll need to share how you plan to use GPT-4 and your specific ideas for its use.
And yet, it still doesn't know what happened after 2021! Sam is still a good guy in GPTverse!
And it can still make errors and "hallucinate" facts. Plus, they warn that GPT-4 has the potential to reinforce ideologies and both true and false truths. 😬
Look what it can do for you
Budget of $100.
Spoiler: Our jobs are still safe ✋🏼
Why not sponsor us, eh?
The hacker and the good samaritan
Here goes …
March 13: Euler Finance, Ethereum-based lending protocol, is exploited for $196 Million.
March 14: The company sends an ultimatum is sent to the attacker by transferring the hacker 0 Ether.
The message - Give back 90%. Keep 10%. Else $1 Million reward for your head.
March 15: Someone sends a SOS to the hacker that it's his life-saving (78 $ETH) that's gone in the hack. The hacker then sends him 100 $ETH.
The hacker is taking his chances. So are the victims. The story is developing.
TTD Blockquote 🔊
We really want to pass the mom test … Crypto needs to be used in everyday life, NFTs need to be used in everyday life
The "mom test" refers to the idea that a technology or product must be easy enough for a non-technical person, such as a mother, to understand and use. He insists that the ultimate goal is to “onboarding the world to Web3.”
TTD Number Picker 🔢
According to court filings, the inner circle of SBF, the parent company of cryptocurrency exchange FTX, received $3.2 billion, with the majority coming from Alameda Research.
Where did the dosh go?
$2.2 Billion to Sam Bankman-Fried
$587 Million to Nishad Singh — former FTX director of engineering
$246 Million to Zixiao “Gary” Wang — FTX co-founder
$87 Million to Ryan Salame — former co-CEO of FTX Digital Markets (FTX’s Bahamian entity)
$25 Million to John Samuel Trabucco — former co-CEO of Alameda
$6 Million to Caroline Ellison — former CEO of Alameda
$240 Million used for purchases, political donations, charitable causes and transfers to non-FTX subsidiaries
TTD The Shutdown 📕
Formfunction, an NFT marketplace on Solana blockchain, has announced that it will be shutting down after raising $4.7 million from investors including OpenSea. The platform, which launched in August, cited low trading volumes and a lack of demand as reasons for its closure. The move comes as the broader NFT market experiences a downturn, with sales dropping significantly from their peak earlier this year.
TTD NFT Buzz 🤖
Sotheby’s will hold an NFT auction inspired by the popular subreddit “Oddly Satisfying,” and will feature works from artists Anyma, Beeple and Luis Ponce.
Bored Ape Sewer Pass NFTs can now be transformed into physical robots. Called Bored Ape Kennel Club, are being developed by a company called Zima Red, which specialises in creating physical objects based on digital assets.
A plaintiff has won a case against hackers after serving court papers via an NFT. The court demanded that the hackers return nearly $1 million worth of stolen USDT, but it is unclear how the money will be recovered.
LiveArt, an art trading platform, is launching an NFT membership card, LiveArt X Card, linked to exclusive drops. The platform aims to discourage NFT flipping by encouraging collectors to hold onto their art long-term.
Square Enix, a Japanese video game developer, has announced the release of 10,000 NFTs for its upcoming web3 game, Symbiogenesis.
TTD Surfer 🏄
A New York court denied the government’s request to halt the Voyager-Binance US $1 billion deal, saying delay would harm customers.
Chinese businessman Guo Wengui was arrested in New York and charged with fraud for a series of fraudulent schemes amounting to $1.4 Billion.
German and U.S. authorities shut down a crypto mixer, used by criminals on the dark web to launder funds, and seized $42 Million in Bitcoin.
Microsoft backed web3 data warehousing platform Space and Time has secured a strategic partnership with South Korean gaming firm Wemade.
UK to add crypto declaration in tax forms. Taxpayers will have to record their crypto gains separately as of next year, the U.K. Treasury said.
So long. OKAY? ✋
The Token Dispatch is a daily newsletter that takes you on a 4-5 minute drive through the wild west of the Crypto World. Daily in your email inbox @13:00 GMT. Almost always.