blubalina co-founders Hanjin And Adam Rowell quickly realized whether consumers would trust artificial intelligence agents They will need a better system to manage their financial security than giving these agents blind access to their banking and investment accounts. Their creation is an AI-native financial operating system that allows the user to retain control of data, accounts, and permissions through blockchain technology and zero-knowledge proofs.
Jin’s experience with artificial intelligence goes back two decades. He said the main motivation behind creating Bluwhale was his fears about centralized artificial intelligence.
“We are afraid of the future and what OpenAI and Anthropic might do to your finances.”
Why has artificial intelligence grown so fast?
Like most people, Jin did not expect artificial intelligence to advance so quickly. Appreciate the progress in large language models after the emergence of ChatGPT and OpenAI. This allowed creators to deliver an acceptable user experience.
But there are still many questions in the wake of this AI boom. What’s the best way to train agents? What is the best way to convey information to them? How should AI act in the physical world?
The race to address these concerns is on because young consumers want their AI. Jin said Gen Z doesn’t want to go to banks and financial advisors for financial planning; They expect a more liquid process than putting money in the bank and watching it grow (slowly). Bad news for the organization, because we are in the early stages of a historic intergenerational transfer of wealth.
Why is Bluwhale betting on the AI/blockchain combination?
Bluwhale believes AI will do a better job of financial management. It works 24 hours a day and makes more rational decisions. An organized system can appoint hundreds of agents to act on your behalf.
The Bluwhale system is a blockchain-based orchestration layer where intermediaries use a person’s financial services information to make transactions on their behalf. It uses zero-knowledge proof technology to encrypt information that can only be accessed by agents authorized by the user.
Users can add their information to a wallet or blockchain-based identity so brokers can learn which services are best for them. They initially allocate small amounts to control their risk exposure.
“You are now in this self-sovereign environment where your data is protected and secure.” Jin said.
Jin compares his approach to the recent OpenAI/Plaid announcement, which allows customers to securely connect their accounts to ChatGPT.
“This sounds scary to me” he said. “Will another agent I don’t understand break into my bank account and start moving money?”
How does Bluwhale build trust?
How does Jin plan to convince users that the Bluwhale system is safer? He doesn’t. Agents seeking access must pay users for their attention. It’s similar to how a credit card company checks your score, but it pays the user while providing personalized services.
“I am encouraged to give them visibility.” Jin said. “I get better financial services tailored to me, and suddenly this representative is growing my capital.”
Jin envisions Bluwhale becoming today’s Good Housekeeping Seal of Approval for agents appearing in the Bluwhale store. Working with regulators, Bluwhale will evaluate effectiveness and reliability before granting access to the store.
This will take time as regulators weigh AI and the financial services union.
“We are in this gray zone period where agencies are working with regulators and rail systems to hedge the risks posed to retail investors.” Jin said. “They need to address security, privacy and risk management.”
Moving beyond Web3 – It’s just a matter of time
Over time, Jin sees Bluwhale migrating to Web2. This is a much more organized space than Web3. Agency financing has some obstacles that must be overcome first.
“If we can manage the user journey in such a way that a lot of the things that could go wrong are controlled through the app, I believe the right AI will be validated for these services in the long run.” Jin said.
How quickly consumers adopt agent AI also depends on how quickly the industry responds to AI-based scams. Fraudsters are early adopters of most technologies; If left unchecked, they can weaponize agency trade and darken the industry.
“It will take time” Gin agreed. “At some point, the regulator is going to put pressure on this area. We’re in a time where everything is gray and very unregulated, but Gen Z’s willingness to engage with these services is incredible.”
So why is this?
“My biggest claim when it comes to adoption is always convenience.” Jin finished his words. “Every technology you saw consumers adopt, no matter how advanced, was based on convenience.”
