Blockchain: The Economic and Financial Institution for Autonomous AI?

Round 1

Reviewer 1 Report

Comments and Suggestions for Authors

Review of manuscript

 

 Blockchain: The Economic and Financial Institution for Autonomous AI?

 

This study examines the synergies between Artificial Intelligence (AI) and Blockchain technology in enabling autonomous AI agents to conduct economic and financial transactions The work argues that AI's interaction with these institutions is crucial for enhancing its capabilities and productivity. Drawing on institutional economics theory, the authors suggest that Blockchain offers a solution by creating digital economic and financial institutions, allowing AI to engage through the management of private keys. This integration extends AI's abilities to form and execute contracts, participate in marketplaces, and utilize financial services autonomously. The study advocates for further research on AI as a general-purpose technology and Blockchain as an institutional technology that can unlock the full potential of autonomous AI agents.

 

I believe the research query holds significant value. A thorough examination of this question could yield valuable perspectives for regulators and investors alike. I have feedback to ponder over, and I believe addressing these points effectively will enhance the strength of this work. The concerns are elucidated as follows:

 

 

Major Comments

 

1.      The authors should discuss the evolutionary trajectory of artificial intelligence and its interplay with machine learning, elucidating both similarities and differences between the two.

2.      On line 94, “our paper is the first to analyze Blockchain technology as an economic and financial institutional technology that can unlock the potential for autonomous AI”.
You need to discuss recent studies that investigate the application of Blockchain technology in the field of finance.

3.      On line 197, “AI systems learn from massive quantities of data, which could introduce biases present in the training data”. You should mention the interaction between AI and big data. How do AI systems deal with big data?

4.      DeFi (Decentralized Finance) represents recent innovations in the financial landscape, garnering substantial attention from market participants. It is essential to furnish additional details on both concepts for a comprehensive understanding.

5.      The model presented in Fig. 1 bears a striking resemblance to the one observed in the cryptocurrency market. To enhance clarity, it is crucial to delineate the distinctions between them. Additionally, an elucidation on the specific models employed by AI agents is warranted.

 

Conclusion

Overall, the paper can be accepted for publication in the Journal of Risk and Financial Management after major revision.

 

Yours faithfully,

The Referee

Author Response

First of all, we would very much like to thank reviewer one for the insightful comments and suggestions. We have taken the editor’s and the reviewers’ concerns very seriously, and we feel that the resulting changes have helped to further strengthen the paper. We hope that our revision satisfies your comments. Our detailed revision of how we have responded to reviewer one’s concerns is outlined below. The comments from the referee are presented in bold, while our responses are in italics. Besides, we provide the revised version of our manuscript after the cover letter. Any updates and modifications also made to the manuscript are marked in red in the revised version.

Author Response File: Author Response.pdf

Reviewer 2 Report

Comments and Suggestions for Authors

The authors assert that their paper is the first to examine Blockchain technology as an economic and financial institutional technology that enables the potential for autonomous AI agents. I concur that AI agents can both theoretically and practically engage with these Blockchain-based institutions through the management of private keys. However, in my opinion, autonomous AI agents are capable of performing a wide range of tasks beyond just interacting with Blockchain. If every interaction were documented in an article, it would result in an excessive number of articles.

Therefore, I believe that the current paper does not meet the criteria for publication.

My comments are as follows:

1. What is the research gap addressed in this paper? Without this paper, individuals would be able to create autonomous AI agents interacting with Blockchain at any time in this manner.

2. How many new security issues will arise from the introduction of these autonomous AI agents?

3. If a user trusts two or more agents, will they interact with each other?

 

Author Response

First of all, we would very much like to thank reviewer one for the insightful comments and suggestions. We have taken the editor’s and the reviewers’ concerns very seriously, and we feel that the resulting changes have helped to further strengthen the paper. We hope that our revision satisfies your comments. Our detailed revision of how we have responded to reviewer one’s concerns is outlined below. The comments from the referee are presented in bold, while our responses are in italics. Besides, we provide the revised version of our manuscript after the cover letter. Any updates and modifications also made to the manuscript are marked in red in the revised version.

Author Response File: Author Response.pdf

Round 2

Reviewer 2 Report

Comments and Suggestions for Authors

This manuscript is a revised version of a previously submitted paper. I am satisfied with the response to my concerns, and therefore, I believe it can be accepted.