Decentralized physical infrastructure networks, known as DePINs, continue to be a major topic in the Web3 sphere during this current cycle. Although this technology has been in existence for some time, it has recently sparked new interest with the resurgence of optimism in the cryptocurrency market.
DePINs enable ordinary individuals to contribute their physical infrastructure resources, such as hard drive space or bandwidth, to support a larger decentralized network. One notable project in this space is XYO, where users store data for clients and receive cryptocurrency in exchange.
In the 38th episode of The Agenda podcast, hosts Jonathan DeYoung and Ray Salmond engage in a discussion with Markus Levin, the co-founder and head of operations at XY Labs, the company responsible for developing the XYO protocol. Levin argues that DePINs have the potential to enhance the trustworthiness of artificial intelligence and have already made significant progress towards mass adoption in the crypto world.
This interview marks the beginning of a series of discussions that The Agenda conducted in person at the Consensus 2024 conference.
DePINs Combat AI Misinformation
Levin highlighted the issue of AI models generating false information, also known as “hallucinations.” He proposed that a DePIN system like XYO, where each piece of data can be traced back to its source, could prevent such misinformation.
According to Levin, the problem with AI hallucinations lies in inaccurate underlying data. By providing certainty about the data’s origin and path, DePINs can address this challenge effectively.
Potential for Mass Adoption
Regarding the speculation about a potential DePIN market bubble, Levin dismissed the idea, emphasizing that DePINs are just beginning to experience growth and are far from reaching their full potential.
While acknowledging the current excitement around DePIN technology, Levin argued that the enthusiasm is warranted due to its scalability and ability to meet real client needs. He believes that other projects are eager to join the space because DePINs deliver tangible results.
In response to whether a DePIN protocol could become the killer app driving widespread adoption, Levin confidently stated, “We built it.” He revealed that a large percentage of XYO users are non-crypto individuals who eventually convert to cryptocurrency users, with over 7 million people onboarded.
For more insights from Levin’s conversation with The Agenda, covering topics such as data privacy in XYO, the distinction between DePIN and the Internet of Things, and more, listen to the full episode on Cointelegraph’s Podcasts page, Apple Podcasts, or Spotify. Additionally, explore Cointelegraph’s diverse range of shows for more engaging content.
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