The details of Block Trace’s AI chatbot simplified blockchain transactions can be found here
When sorting through millions of transactions and tens of thousands of blockchain addresses, scanning and analyzing a blockchain can be difficult. It’s monotonous and tedious and the story being told is frequently slippery. The startup Block trace, based in Austin, hopes that artificial intelligence can speed up the blockchain analysis process and make it easier to find trends and anomalies and create an AI chatbot for the convenience of a blockchain transaction.
Blockchain technology forensic and analytical service provider Block trace is AI-enhanced and was founded in 2018 by software engineer Shaun MaGruder, who previously held the position of head of training at blockchain forensics firm Chainalysis. Block trace developed its artificial intelligence to interact with Bitcoin blockchain data by utilizing a chatbot they named Robby the Robot, after the iconic character from the sci-fi film “Forbidden Planet.”
In an interview with Decrypt, Blocktrace CEO MaGruder stated that the Robby project’s large sample size and history led the company to the decision to launch it with Bitcoin.
Bitcoin is a terrific idea to start with and probably will always exist, according to MaGruder. It is known as the “OG” since it was the first, has a sizable user address pool, and sees a lot of activity.
It’s a significant technical achievement, but MaGruder claims that Blocktrace’s database contains a copy of the Bitcoin blockchain data. Users of their program can communicate with a virtual assistant-like feature by asking inquiries in natural language, which is supplemented by an AI layer.
A natural language model is a sort of artificial intelligence designed to comprehend and process human language similarly to how humans do.
MaGruder explains that the goal of Blocktrace is to make it possible for users and investigators to use the OpenAI technology to quickly locate Bitcoin addresses and more precisely identify network transactions.
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