The generative artificial intelligence (AI) chatbot SatoshiGPT is now available, according to the bitcoin investment site Mudrex.
Mudrex stated in a statement that SatoshiGPT is a free learning tool that simplifies complex cryptocurrency-related topics for its users and is powered by OpenAI’s GPT engine.
The platform allows users to ask questions about digital currencies, which are then broken down into appropriate responses that are understandable by users of all levels of expertise.
The company intends to launch the service in additional languages in the near future in addition to English and Hindi.
Additionally, the platform curates content from a variety of sources to provide insights into the cryptocurrency ecosystem. In addition, Mudrex stated that it would soon launch an AI portfolio analyzer that would assist users in optimizing their investment strategies and provide individualized recommendations.
Edul Patel, Mudrex’s chief executive officer and cofounder, stated, “We believe that education is the key to empowering individuals to make informed decisions in the crypto ecosystem.” “With the release of SatoshiGPT, we are excited to offer a free and accessible learning tool that will expand knowledge, demystify crypto concepts, and ultimately foster confidence among users,” the SatoshiGPT website states. The company wants to ride the current generative AI wave with the new launch.
A spokesperson for Mudrex stated that the company intends to use AI to simplify information accessibility and protect users from scams.
Mudrex, a Y-Combinator alum that was founded in 2018 by Patel, Alankar Saxena, Rohit Goyal, and Prince Arora, lets users invest in cryptocurrencies. The startup with its headquarters in San Francisco asserts to have more than 5,000 users and assets under management (AUM) of more than $10 million.
Mudrex’s decision to use AI may have been made to get more users involved. Since the Central Government imposed a tax regime, Indian crypto startups have had trouble. In addition, the ongoing funding freeze and a series of ED raids have exacerbated the problem.
The apparent collapse of major crypto players like Vauld and FTX appears to be making matters worse.
Despite the difficulties, Cleartax’s recent entry into the crypto tax calculation and filing market has helped the industry gain some traction. Taxnodes likewise sacked $1.6 Mn financing to scale its crypto charge estimation contributions.