Recently, Clay Space, a blockchain researcher and the founder of Blockspace Media conducted a research by providing an artificial intelligence (AI) system 100 initial coin offering (ICO) whitepapers and having it create its own.
Basically, with the use of AI and machine learning, Space had an AI system, which earlier on had no clue of cryptocurrency or ICO, read through various ICO papers and write its own whitepaper. Following a hundred whitepapers, the AI developed an ICO whitepaper that was somehow similar to the structure of the majority of ICO whitepapers presently in existence.
The various whitepaper developed by the AI system used by Space created a paper with the following structure:
#3. Uses of the Token
#4. Purchasing ICO
#5. Use of Funds
In the third part, called uses of the token, the A-written whitepaper brought forward the following use cases of the blockchain: decentralization, immutability, staking, DAO, consensus, voting, and governance, more or less all buzzword available in the blockchain sector.
The fourth part, entitled purchasing ICOs, included normal public sale processes and structures used by most ICOs in the market. The section, which if replaced with a part of a recognized ICO investor would find it impossible to spot the difference, read:
“It will seek to raise 20 million dollars over twenty-five days, with a minimum cap of 40 trillion dollars. If the minimum is not raised before the end of the ICO all money will be returned to the team. Investment can be made in Bitcoin but should always be made in Ethereum and from a wallet that you own. Your private keys like to have privacy.”
The fifth section, known as the use of funds, looks quite similar to most of the ICO whitepapers in the market. It read that 80 percent of funds go to the improvement of the platform and 20 percent of funds will be distributed to the market.
“80% of funds will go to developing the platform. 20% of funds will go to supporting the market. The final 35% of funds will pay team members and travel plans. Token burns will take place when a user joins the Telegram and Slack channel and talks about fire,” read the fifth portion, with some grammatical errors.
The last portion, which touched on the team and advisors, stated, “our team is big and has over 40 years of blockchain experience. Vitalik Buterin was critical in creating Ethereum Classic and is advising our ICO.”