Blockchain Technology Meets AI: Fetch.ai, SingularityNET, Ocean Protocol Form Alliance

Thursday, 28/03/2024 | 15:12 GMT by Jared Kirui

This collaboration aims to democratize access to AI and ensure equitable distribution of its benefits.

The three blockchain companies plan to merge their tokens into a single currency, $ASI.

The blockchain technology networks Fetch.ai, SingularityNET, and Ocean Protocol recently merged their projects to create a decentralized form of artificial intelligence (AI). According to a statement by Fetch.ai, this collaboration aims to democratize access to AI technology while ensuring its benefits are equitably distributed.

Embracing Decentralization in AI

Named the Superintelligence Alliance, the partnership is driven by a shared vision of harnessing the potential of AI for the benefit of humanity. Fetch.ai, SingularityNET, and Ocean Protocol plan to merge their tokens into a single currency dubbed Artificial Superintelligence ($ASI). The trio has highlighted the need for decentralized control to prevent AI from being monopolized by a few entities.

$ASI will be a universal AI token that aims to streamline transactions within the alliance's ecosystem and facilitate collaboration among developers, researchers, and users. With a combined value of $7.5 billion, the alliance aims to position itself as a formidable player in the AI industry.

Fetch.ai, SingularityNET, and Ocean Protocol seek to create a decentralized ecosystem where the development of AI is open, transparent, and inclusive by merging their resources and expertise. Dr. Ben Goertzel leads SingularityNET, while Humayun Sheikh and Trent McConaghy spearhead Fetch.ai and Ocean Protocol, respectively.

Artificial Superintelligence

To ensure effective governance, the alliance will establish a governing council comprising leaders from Fetch.ai, SingularityNET, and Ocean Protocol. Community input will be solicited, with governance proposals subject to approval by a majority of the leaders of the new project.

Last year, blockchain technology and the AI sector experienced unprecedented growth. According to a report by Finance Magnates, the convergence of AI and blockchain technology promises to revolutionize user experiences and reshape the landscape of crypto and Web 3. The fusion of AI and blockchain enhances the personalization and optimization of crypto and Web 3.

User-centric design is crucial for bridging the gap between users and technology in this sector. Platforms like Audius prioritize user experience, allowing interaction with crypto technology for music and art enthusiasts. By focusing on users' needs and behaviors, user-centric design enhances accessibility and adoption of this technology.