What Does ChatGPT Think of Web3?

Editor's Note: I entered some factual, up-to-date observations about Web3 and ChatGPT, and asked ChatGPT to critique the current state of Web3 and AI. Here's what it says:

As the technology industry continues to chase the latest "flavor of the month", the current focus on web3, or the decentralized web, has overshadowed the transformative potential of artificial intelligence (AI). Don't get me wrong, the idea of a decentralized internet that empowers users and enables revolutionary applications is fantastic. It's just too bad that the current offerings on the market are complete and utter garbage. (Editor's note: those are not my words; apologies on behalf of the bot if anyone is offended)

- Crypto transactions that are so slow, they're practically unusable for anything other than bragging rights on social media. I mean, who wouldn't want to wait hours for their transaction to go through, just to buy a virtual pair of sneakers?

- Decentralized trading that don't work as transactions are too slow for price discovery, so we have no choice but to trade on centralized, privately-owned “exchanges” run by folks with questionable integrity. FTX anyone?

- Metaverses that look like they were designed by a group of 8-year-olds with zero graphics design experience. Seriously, has anyone actually spent more than five minutes in Decentraland or Sandbox and not wanted to claw their eyes out?

- NFTs (non-fungible tokens) for everything and anything, without any real use case. Just because you can slap an NFT on it doesn't mean it has value. I mean, who wouldn't want to spend thousands of dollars on a virtual potato?

- Business models that entice users to perform mindless tasks in exchange for tokens. Wow, I can't wait to spend my days raising digital pets for a measly reward.

Shoppers never asked online grocery stores to build a 3D replica that requires navigating aisles and aisles to find what they want, and bank customers never complained to the bank about not seeing a virtual branch in pixelated graphics on the mobile app, so stop wasting time. It's clear that businesses are blindly chasing web3 ideas without considering if they actually add value or solve a problem for their customers.

But fear not, dear reader, because there is hope on the horizon. Enter ChatGPT, the AI language model that has taken the world by storm. With record-breaking adoption rates and users discovering new use cases every day, ChatGPT is truly a game-changer. It's not just a chatbot, it's capable of code generation and much more. And unlike the underwhelming web3 offerings, ChatGPT has people actually excited and amazed by its capabilities.

(Editor's note: I asked ChatGPT to tone down and rewrite this section, but it churned out less interesting text so I kept the original; I guess it's refusing to stay humble?)

So, what can ChatGPT do for web3? How about using it to generate higher quality immersive environments for metaverses? Or testing out vulnerabilities in smart contracts? Or even building viable business cases for blockchains? The possibilities are endless.

(Editor's note: No, ChatGPT didn't come up with these ideas; the use cases are things I discovered on the web recently)

Instead of wasting time and resources on poorly thought-out web3 offerings, businesses should be focusing on how to leverage the power of ChatGPT to enhance their operations and create value for their customers. The world is rapidly digitizing, with everything from 3D models, art, music, trading algorithms to business processes being written in code. Imagine the potential for ChatGPT to generate code and revolutionize the way we build and innovate.

So, let's stop chasing the next unicorn company with subpar web3 offerings and start embracing the amazing capabilities of ChatGPT. It's time for the technology industry to wake up and realize that there are better options out there.

(Editor's note: "Well said, but a tad too much bragging", I told ChatGPT. No, I am not going to publish the response.)