Investment bank Goldman Sachs Group and Microsoft want to boost Web 3.0 uptake on the Canton blockchain tech through artificial intelligence (AI).
The duo joins traditional finance (TradFi) giants Deloitte, S&P Worldwide, Moody’s, BNP Paribas, and Cboe Worldwide Markets in building infrastructure during the cryptocurrency bear market.
Artificial Intelligence (AI) Can Make better Web 3.0 User Experience
The recently-released Canton Network links the platforms of trading of Goldman and Deutsche Börse, whose notional volumes exceed the trading activity of numerous cryptocurrency assets.
The network is built on Microsoft’s Azure cloud. The consortium hopes to attract developers with the new digital investment smart contract language.
Microsoft stated the previous 30 days it desires to increase Web 3.0 users with artificial intelligence on Canton. The company stated yesterday that added Bing to OpenAI’s ChatGPT Plus premium service.
Artificial Intelligence (AI) can analyze application usage patterns to assist Web 3.0 corporations elevate user experiences. Firstly, it can assess a product’s weak points and assist users easily pick up from where they left off.
Additionally, the technology can likewise streamline complex tasks like decentralized governance and crypto token management. Artificial Intelligence (AI) can likewise make better network management through automated data collection, decision-making, monitoring for malicious activity, and streamlining transaction processing.
Google, likewise a notable cloud and Artificial Intelligence (AI) player, became a Solana (SOL) validator a year ago. Following that, it joined forces with the Tezos Foundation in February for similar reasons.
Google’s deal with Polygon the previous 30 days provides tooling and infrastructure empowering zero-knowledge projects. The Silicon Valley giant recently opened the sneak peek of its PaLM 2 library to enable coders to add Artificial Intelligence (AI) to their applications.
Canton Network Can Streamline Trading, Cboe Says
TradFi corporations envision real-world investment tokenization as their next goal, as banks can take advantage of quicker investment transfers on blockchains teck. Reports by Cathy Clay of Cboe, Canton can help “create new market infrastructure and drive efficiency in the trading of products across the globe.”
Early efforts have tokenized valuable assets like real estate, vehicles, or fiat for fast transfer across blockchains teck. BlackRock CEO Larry Fink informed shareholders the bank would tokenize stocks and bonds in the year.
Previously, JPMorgan Chase exchanged tokenized Japanese yen and United States dollars using a permissioned Aave pool whose access was governed by credentials in smart contracts.
