Use Blockchains as an all in one solution to the API problem

Use Blockchains as an all-in-one solution to the API Payment Problem

Video Demo

Repo

Smart Contracts enable developers to build dApps that automatically inherit the security and reliability that blockchains provide, along with the ability to move and manage tokens (money) extremely easily.

I created a Starter Template and information repository that can help GPT devs quickly create apps on top of any EVM compatible blockchain such as Ethereum or Polygon

There is no native way to incorporate external APIs into dApps, however Chainlink provides a way to do this by allowing developers to run a Chainlink Node. This provides a secure way to ensure that any API calls are only made under certain conditions and in a decentralized and verifiable way.

The implications of this is that you can easily build your GPT app without having to worry about a lot of the common but important problems that need to be addressed when building your app. Some benefits of using smart contracts include:

  • Spam protection - API calls can only be made through a blockchain transaction.

  • Payment Method - Using native blockchain assets, you won’t have to worry about trying to integrate third party payment methods, which would otherwise open the door to many other developement problems such as strict KYC rules, location tracking, and all of the other nasty data collection work that ends up taking up most of the development process and degrades user experience

  • Clear Profit Margins - The Davinci API cost $0.06 per 1k tokens. Using Smart contracts, you can require a payment of $0.07 per 1k tokens. It is really as simple as that.

  • Much Better UX - Using dApps is much easier than using traditional apps. Users who have Web3 Wallets can connect their account to your dApp in a single click and interact and send payments within seconds. Contrast this with all the work that an end user would typically need to do to use an app that required a payment method.

If you are creating your GPT app and need guidance, feel free to message me

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  1. Is your template validated by OpenAI so that we can refer to this validation in the go-live process?
  • No, the repo I provided is a very broad template of how you would integrate blockchain technology. Whether or not a project is validated by OpenAI depends on how someone would use my template to implement their app idea.
  1. Do the native blockchain assets guarantee that we know our customers in case we need to go back to them in case of abuses?
  • No. This is the beauty of using blockchains. The idea is that any case of possible abuse would be handled by smart contracts beforehand (however you define that)
  1. what is the typical smart contract cost to put on top of the API cost? I guess that it is not token related, but more transaction related.
  • When using dApps, transactions are paid by the end user. Depending on which blockchain you use, this can cost anywhere from a couple of dollars to a fraction of a cent. For the developer, the only cost involved is paying the transaction fee to deploy the smart contract on the blockchain, which again, is at most a couple of dollars.
  1. How does this work when the service is paid by one party and consumed by another? Think of a service provide to an enterprise or one where there is a sponsor.
  • This is easily addresses with smart contracts. You would simply provide a way for sponsors to deposit funds into a smart contract and that would be used to pay for whatever fee the developer chooses to incorporate.
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