Tech Company CTO Slams Cryptocurrencies as Useless for Society

• Nvidia’s CTO criticizes cryptocurrencies for being useless to society.
• Kagan defends the decision to limit graphics cards used for mining, stating AI processing is more worthwhile.
• Nvidia’s focus on AI has made it a leader in the tech industry with a preference for supporting tangible benefits to society.

In a recent talk show with Bloomberg, US chip-maker Nvidia’s CTO, Michael Kagan, has criticized cryptocurrencies for not bringing any useful contribution to society. Instead, Kagan believes that processing power used for artificial intelligence (AI), such as chatbots, is more worthwhile than mining cryptocurrencies.

Generative AI is going to be explosive says NVIDIA CTO Michael Kagan https://t.co/fCpEKPDaIl pic.twitter.com/svkAe8Aa6h

— Bloomberg TV (@BloombergTV) March 23, 2023

Kagan defended the company’s decision to limit the use of its graphics cards for mining Ethereum in 2021, stating that the limited value of using processing power for mining cryptocurrencies was not justified. Despite the company being a major provider for mining equipment, he championed the development of AI, particularly the chatbot ChatGPT, which allows everyone to create their…

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