AI Meets the Kitchen

10

October

2024

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When I was younger, I used to dislike cooking. It always seemed overwhelming to me since there were so many different techniques, recipes and ingredients. I was often confused, especially when trying to come up with meals based on whatever I had at home. However, when I began exploring different generative AI tools, my perspective shifted completely. These AI tools transformed cooking into something enjoyable and creative rather than a chore I needed to finish as soon as possible.

One of the most valuable tools in my cooking journey has been ChatGPT. Instead of spending hours browsing cooking websites or watching YouTube videos, I can simply ask ChatGPT what to cook using the ingredients I have at home. It generates personalized recipe ideas along with step-by-step instructions, which saves me time and reduces food waste by helping me make the most of what’s on hand. Additionally, I use it to create customized meal plans tailored to my dietary goals, such as increasing protein intake or following a gluten-free diet. Below is an example of a weekly meal plan I’ve created with ChatGPT’s help.


I also believe that generative AI can be a useful tool for menu and recipe creation in restaurants. By generating novel recipes based on specific criteria like ingredient availability or dietary preferences, AI helps restaurants stay competitive and offer unique menu options. It can assist chefs by suggesting adjustments, reducing the time needed for recipe development. AI simplifies parts of the creative process, allowing restaurants to consistently introduce new dishes while reducing the pressure on the culinary teams.

As generative AI continues to evolve, its potential to revolutionize at-home cooking and the restaurant industry continues to grow. Whether you are a beginner like myself or a professional chef, I believe that generative AI can enhance everyone’s cooking experience.

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Revolutionizing Real Estate Ownership with NFTs

16

September

2024

No ratings yet. As someone with a strong interest in and advocacy for blockchain technology and its use cases, I recently had a discussion with a friend on how the real estate industry can be revolutionized by tokenization, particularly through NFTs. According to McKinsey (2023), the volume of tokenized digital securities will reach $5 trillion by 2030, with real estate tokenization significantly contributing to this growth.

Blockchain technology is transforming the real estate industry by introducing tokenized ownership of physical assets through standards like ERC-721 and ERC-998. These innovations allow individuals to hold NFTs that represent a physical property, potentially simplifying the process of buying, selling, and managing real estate properties.

ERC-721 defines how to build unique NFTs on Ethereum. Each ERC-721 token is distinct, making it ideal for tokenizing real estate. It enables digital verification and transfer of property ownership, whether representing entire assets or fractional shares. This offers flexible investment opportunities. Building on this, ERC-998 allows NFTs to “own” other NFTs or tokens, creating a parent-child relationship. An ERC-998 NFT could represent a property and include nested assets like rental agreements or ownership shares. This hierarchical structure simplifies complex ownership models, ensuring coherence during transactions.

ERC-998’s key features are ease of transferability and hierarchical ownership. Entire assets composed of multiple NFTs and tokens can be transferred in a single atomic transaction, ensuring all components move simultaneously and preventing discrepancies. Hierarchical ownership allows the creation of intricate asset structures—for example, in real estate, a building (parent NFT) could own individual units (child NFTs) like apartments or offices, each with specific attributes.

I believe that ERC-998 has the potential to revolutionize how we manage assets. As blockchain technology and NFTs continue to advance, they are set to transform several industries, including real estate.

References

McKinsey & Company. (2023). Tokenization: A digital-asset déjà vu? Retrieved from: https://www.mckinsey.com/industries/financial-services/our-insights/tokenization-a-digital-asset-deja-vu

Ethereum Foundation. (n.d.). ERC-721 non-fungible token standard. ethereum.org. Retrieved from:
https://ethereum.org/nl/developers/docs/standards/tokens/erc-721/

Ethereum Foundation. (n.d.). ERC-998: Composable Non-Fungible Token. ethereum.org. Retrieved from:
https://eips.ethereum.org/EIPS/eip-998

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