CBDCs are coming at the National Level everywhere starting in 2024, and are in a sense already in the USA with Fed Coin now in limited circulation the past few years.
Inter-Blockchain or "Interchain" Settlement which is secure, employing User Permissioned AI controls accessed as services offered by Interchains, relieves the Layer 2 Blockchain developer from having to integrate 'unbridled' centralized AI protection into their our Smart Contract Solutions running on their Sidechain's Ethereum Virtual Machine "EVM".
Which means Cosmos, Chainlink and similar Interchain projects must collectively decide how they can 'surface' User Permissioned AI services, which I have labeled the AI LEASH for use by crypto wallets and SCs so such order transaction settlements between any combination of these elements can easily employ AI the way they like.
Why implement AI in a such a manner?
If you want a deep dive into Interchains and AI LEASH read this in 30 minutes or less.
From an 'element' perspective wallets and SCs can essentially benefit from
AI driven preventative Security to protect the order interaction from:
DEX Hijacking
ie. DEX impersonations offering false price discovery information of alt coins.
Honest price discovery can be effectively procured by AI driven checks of many multiple DEX published price discovery event streams in what effectively is near Real Time, provided the dNTP distributed Network Time Protocol clock sources can also be trusted governing the pre-order settlement interaction between buyer and seller or trading pairs.
Today, honest price discovery is largly left up to the wallet holder or the programmer creating the 'Smart' Contract, which frankly may not be all that smart given who ever the author of the SC might be and it might be down right devious, shaving micro cents of the deal through a back door program loop comes to mind, so how do you check for that?
Well on the latter the Interchain offered User permissioned AI might flip on switch pre-order settlement for a new source to check and time stamp the SC version, validate the SC code and register that version of the SC into a WhiteList or Blacklist, provided the code Audit sweep passes muster against some SC standard, which is checked by a trusted 3rd party auditing service, etc, etc, etc.
The above single SC preventative security use case is just one of many preventative use pre-order check SC security cases I can think of where user permissioned AI would be extremely useful.
Imo where those type of SC preventative security capabilities which I label the AI LEASH, imo are best parked with Interchain Layer 2 Side Chain Proxy Staking dPoS Validator Service Providers like those operating in the Cosmos HUB Network.
Gazing into my Cryptosphere Crystal Ball there is dread (a Shitcoin fate if you like) coming to those Interchain projects which do not partake in the proposed AI LEASH larger collective action to work together and figure out how User Permissioned AI LEASH services should materialize in the Interchain, the building blocks of what will be the new Digital Interstate Settlement Services delivering honest price discovery and buying power protection to Main St. in a future that should materialize sooner rather than later.
Working together, these projects above can and should prevail to effect Cryptosphere's overall challenge facing them now, which is to quickly take more order settlement (Dollar Volume & Transaction count) market share than National central government issued CBDC fiat settlement systems,
so as to literally ensure the protection of everyone's buying power. That type of protection again starts with distributed honest price discovery for each altcoin in the transaction pair, where honest price discovery is operating in near real time for first time order pair type or combination between wallet and/or SC party pairs,
a real time honest price discovery service which over time, keeps track of wallet and SC versioning and their transaction behaviors (good, bad) in a secure private manner on the Interchain, to continuously protect both the buyer and seller with user permissioned AI LEASH features offered by those Interchain Validator node Operators to Layer 2 wallet and SC Operators.
When (not if) user permissioned AI LEASH becomes a reality, it's my belief Cryptocurrencies of all types and their wallet and SC counterparts can then become valued settlement money (not currency), backed by user permissioned AI honest distributed price discovery to protect everyone's hard stores of value settlements on Main St. not just in the Financial Markets.
I especially can now see, thanks to earlier reader prompting, sellers of NFTs backed by physical assets which regular run of the mill Main ST. buyers most value (the larger majority vs. said NFT Digital Art Aficionados), will especially bloom in the DEFI world, provided those Main St. buyers into DEFI SC offers get that wide perspective lens on price discovery from multiple AI ranked/trusted DEX sources in near Real Time, the first time, their way, user permissioned, from sources they know have a track record they can trust.
OK enough said on that.
Moving forward,
imo it's a 'shit or get off the pot 'AI' time for both Cosmos HUB Network and Chainlink Communities,
Both need to build in community shared user permissioned AI pre-order security service features, the AI LEASH, to help Layer 2 Sidechain SCs and the wallets which interact with them, where the AI LEASH services could start by delivering Layer 2 Sidechain customers a solid distributed price discovery they can trust, (and maybe ID & avoid KITING plays)
which is what imo will greatly stimulate a Third Wave of #DEFI Growth way past the 3 Trillion Market Cap mark and beyond, to push #National_CBDCs into their limited 'never gonna wake up' # NPC use place, where these National CBDCs will be used to pay Federal Taxes and pay for Federal services and that is about it. ;)
The big challenge will be Main St. and getting retailers, service firms, wholesalers and manufacturers and even primary industry manufacturers to accept asset backed alt-coins as money to settle Main St. Transactions.
The Cryptosphere collectively has still mega-much work to do in this regard and,
maybe the barter markets of eBay and Kijiji and their competitors should really start thinking about
how to offer a "create an NFT token" for your serialized number unique used physical products
so they can start facilitate buy/sell deals with ERC-722 and or ERC-20 alt-coins and tokens that indeed are backed by hard assets to get the used physical markets onboard with using crypto!
That and, the Interchain Validator Node Staking pools need to have lots of Total Locked in Value #TLV
to provide the Liquidity grease and trust to facilitate such used good, physical asset backed NFT transactions.
CryptoSphere's Malaise?
No Legacy Crypto Leadership, no User Permissioned AI Control..,
Too Many Tech Geeks without Biz Brains?
It's also worth noting,
given recent Ethereum and Bitcoin community's advances, malaise and fractured development,
neither of these legacy crypto camps will be much help forging the #AI_LEASH equipped Interchains.
Both #BTC and #Eth #Maximalist movements had a HUGE head start, but frankly imo both camps blew it because the technical minds from such heady early days of crypto,
the same folks who did make the big tech break-through beyond BTC PoW to dPOS and DeFi, frankly,
didn't take many economic or business courses at school to really truly and deeply understand honest price discovery or the forthcoming AI business implications which are in play now disrupting buy/sell wells at their leisure with no regulation.
Maybe these 'old school' crypto camps will wake up, however given their governance structures, it's likely both will playing catch up, forever. ;)
That said, both Cosmos and Chainlink Interchains are in danger of letting their own seriously flawed governance structures cause their own implosion too,
so they too also need to wake up and,
get their governance flaws righted and,
start working together collectively on useful user permissioned(wallets and SCs) AI LEASH security features which protect transactions from the current buy/sell wall exploitation also powered by centralized AI order routers, leaving their #maximalist leanings behind for their mutual benefit and Main Street's future benefit.
OK what to do in the interim,
with no real honest distributed price discovery and,
No AI LEASH to protect us?
Centralized AI Driven Buy/Sell Wall Price Discovery, What a mess..,
Scheister Central: Honest Price Discovery? Really?
What's a small investor to do?
Please check your priced pair CEX or DEX sources always before you make a trade, that is try to find out and understand who is manipulating the buy and sell walls of the trading pair you are basing your transaction on, with the 3rd party Review information (via searching the Web) and, maybe also understand what drives the why behind their automated buy/sell wall manipulation actions.
If you dig deep, in the fiat world of stocks and bonds one usually find's multiple F'ing banks or some NYC or London sleazy investment houses running RT automated ordering router infrastructures to support their day trade money grabs, or increasingly their long and short put/call actions, that same RT infrastructure has aimed at the Cryptosphere since about 2019, more of it aimed daily even WAY above the Top 100 cryptos, so buyer/seller beware.
Finding and reconciling price sources you can trust on the asset you are selling or buying so you can do a reasonable market comparison and judge current supply and demand characteristics so the small investor can get ahead of the market trend tendencies for that pair, then make your trade,
is 'Tiring' I know,
but the effort is absolutely necessary to protect and grow one's store of wealth, especially first time around,
given there is no AI LEASH out there in the CryptoSphere to protect anyone from centralized AI powered buy/sell all leading price manipulation shenanigans,
The other AI LEASH check of course is getting rid of the rampant 'kiting' going on in all markets,
that is saying you have something in the form of asset you are willing to sell, when you don't really have it, expressed as a one or more buy or sell upstream orders (priced higher or lower than the current market advertised price by a CEX or DEX) and,
then yanking those offers in a random time slot way, placed by AI driven router orders, expressed as a randomly place multiple placed string of offers both buy and sell, orders which are then AI yanked randomly before the orders become the active price,
so as to redirect or slow/speed up price direction
Get the picture?
Banks and Investment houses running their 'fiat world' real time automated order router infrastructure in real time to manipulate multiple buy and sell wall momentums in the Cryptosphere is pure market manipulation black magic, evil and also rightfully so, illegal in the SEC sense,
yet these types rarely caught by bumbling, compromised authorities like the SEC,
as isa ghastly flaw in the Cryptosphere that a well implemented AI LEASH could recognize and catch. ;)
These 'old school' bank and investment outfits have learned to love our crypto casino tables because of the lack of regulation and, the fact they can use their existing AI driven order router the way they like, when they want to to get their desired result, in 'god like' fashion, every time.
Ever wonder how wealth is centralized quickly, well this is how.
So get going Cosmos and Chainlink and build that AI LEASH distributed honest price discovery service please to create
Crypto For the people, with Main Street's best interests in mind,
because the old school legacy financial markets are so seriously corrupt they are beyond fixing.
;/
TK over and out.