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SettleMint, a Belgium-based low-code blockchain programming tool provider, has introduced an AI assistant to its platform. This innovative addition comes nine months after the company’s €16 million Series A funding round. The AI assistant is designed to assist developers in creating smart contracts, integrating data, and enhancing quality assurance (QA) testing.
Addressing the Skill Gap in Blockchain Development
With the rise of blockchain technology, there has been a growing demand for skilled developers. However, a survey by Stack Overflow revealed that only 1% of respondents had extensive experience in Solidity, the programming language used for writing smart contracts. SettleMint’s AI assistant aims to bridge this skill gap, helping more enterprises realize the benefits of blockchain technology.
How the AI Assistant Works
Unlike other code-generating products, SettleMint’s AI assistant is not designed to replace human developers. Instead, it serves as a guide, helping to draft smart contracts and explain each line of code. Roderik van der Veer, co-founder and CTO at SettleMint, emphasizes that understanding the code is crucial to identifying errors.
The AI assistant can also suggest modifications to avoid vulnerabilities, although it does not guarantee bug-free code. Technical audits remain essential, but SettleMint’s AI assistant can serve as the first layer of screening, allowing auditors to focus on more complex parts of the code.
Training and Technology
SettleMint is training the AI assistant primarily on OpenAI’s GPT-4, ensuring that it stays up-to-date with the rapidly transforming landscape of blockchain development. By leveraging advanced AI models, the assistant can provide valuable insights and support to developers working on various blockchain projects.
Impact on the Blockchain Industry
Despite the recent downturn in digital currency prices, SettleMint has seen steady growth, with sales multiplying 3-4x this year. The introduction of the AI assistant reflects a maturing enterprise blockchain space, with users ranging from small teams to larger groups undergoing extensive internal training.
The use of smart contracts is also evolving, with applications such as ticketing and guarantees as proof of ownership becoming more prevalent. SettleMint’s AI assistant is poised to play a vital role in this evolving landscape, providing essential support to developers and businesses alike.
Global Expansion and Future Prospects
With offices in Leuven, Dubai, New Delhi, Singapore, and Tokyo, SettleMint is expanding steadily into Asia, backed by funding from Japanese electronics giant Fujitsu. The company also sees significant growth potential in the Middle East.
Conclusion
SettleMint’s new AI assistant represents a significant advancement in the field of blockchain development. By providing targeted support and guidance to developers, the assistant promises to make the creation of smart contracts more accessible and efficient. As the blockchain industry continues to evolve, tools like SettleMint’s AI assistant will be instrumental in driving innovation and growth, enabling more businesses to harness the power of blockchain technology.
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