TokenScope, based in Abu Dhabi, is a cryptocurrency know your transaction (KYT) platform that assesses the risks associated with cryptocurrency transactions. The company uses AI to enhance their services. In a recent interview with Soheil Zabihi, Head of Strategy at TokenScope, he discussed the company’s experiences at the Global Blockchain Show and the Global AI Show, both held in Dubai.
During the Blockchain Show, the focus was on various types of adoption, including discussions about regulatory measures and affiliate marketing strategies for projects. An interesting aspect was the concurrent scheduling of events associated with Token49 Week.
Zabihi shared his experience of meeting Sophia, the first emotionally intelligent robot, at the Global AI Show. He was amazed by Sophia’s ability to compute emotional intelligence and respond to queries like a human being.
Regarding the intersection between AI and blockchain, Zabihi explained that the blockchain AI market size is projected to grow significantly. He highlighted that blockchain enables AI functions while AI similarly facilitates various blockchain operations, including sniperbots for Trading. This integration is expected to promote the development of AI and yield innovative solutions.
Talking about TokenScope, Zabihi mentioned that the company provides a RegTech tooling solution to determine if cryptocurrencies involved in transactions are clean. The AI-enabled tool generates detailed reports that can be utilized during complaints or disputes. He added that in case of any suspicious activity associated with a transaction, the tool can easily pinpoint the problematic actor.
When asked about the risk factors associated with financial forensics, Zabihi mentioned that AI serves as a crucial tool but can also complicate matters. Therefore, regular updates and improvements are essential.
The future of AI and blockchain, according to Zabihi, lies in decentralizing AI to reduce monopolization. Major players currently driving AI include NVIDIA, OpenAI, and Microsoft. However, further decentralization is required to avoid the concentration of control and authority, which poses a significant threat.
On regulation, Zabihi argued that although technically feasible, a decentralized system does not automatically evade regulatory measures. Despite the absence of a central authority, regulations can still be imposed.
Most internet users may not possess cryptocurrency, but Blockchain can potentially change online interactions and transactions. TokenScope, through AI and Blockchain, aims to minimize crypto-related risks and curb fraudulent transactions.
