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Michael Kagan, chief technology officer at chipmaker Nvidia, has said that cryptocurrencies will never ‘do something good for humanity’. He has cited artificial intelligence (AI) – including chatbot ChatGPT – as being of more use to the public and a better use of energy than ‘crypto mining’. Cryptocurrencies use mining to generate new coins and verify transactions, but it is more environmentally costly than beef production. Kagan believes that the development of chatbots such as ChatGPT is a more worthwhile activity than crypto mining.
