Fun

SingularityNet, Fetch.AI, Ocean Protocol merger will drive decentralized AI development: ChainGPT CEO

News Feed - 2024-03-29 01:03:00

Zoltan Vardai7 hours agoSingularityNet, Fetch.AI, Ocean Protocol merger will drive decentralized AI development: ChainGPT CEOThe token merger will drive new resources and create new collaborations to bolster decentralized AI development, ChainGPT’s CEO told Cointelegraph.1444 Total views11 Total sharesListen to article 0:00InterviewOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe upcoming token merger of prominent artificial intelligence (AI) protocols SingularityNet, Fetch.ai, and Ocean Protocol will set a new standard for decentralized AI development, Ilan Rakhmanov, the CEO and founder of ChainGPT, told Cointelegraph in an interview. He explained:“This move is likely to drive high-level development resources and creative collaboration toward the goal of decentralized AI development. By pooling expertise and technologies, the merger could establish new standards for decentralized AI that enhance security, privacy, and transparency.”


The $7.5 billion AI token merger was confirmed on March 27, hours after reports started emerging of the potential deal. The three protocols are united by the common goal of developing blockchain-based decentralized AI protocols, which can"t be controlled by centralized parties or large stakeholders.


The high-level merger is a testament to the benefits of decentralized AI over its centralized counterparties, according to ChainGPT’s Rakhmanov:“AI is frequently becoming second nature to users in their personal, professional, and private lives. That means the security of user’s information is paramount. A robust decentralized platform for AI, free from centralized control, is an ambition worth pursuing!”


The decision of the protocols was announced during a period of growing interest in AI protocols, a week after reports of the Saudi Arabian government considering the creation of a $40 billion investment fund for AI development. The fund would launch in partnership with Silicon Valley venture capital firm Andreessen Horowitz (a16z).


The fund could take place in the second half of 2024. If approved, this would make the Saudi government the largest investor in the AI space.


Related:Biden administration takes action to safeguard public from AI risks


The AI token merger is the ultimate path for ecosystem growth and long-term value accrual, according to Alexandre Dreyfus, the CEO and co-founder of Chiliz, who told Cointelegraph:“I’m interested in the fact that tokens would merge, but each company would stay independent, and all their efforts would be done on the same token & ecosystem. This is the future of token M&A.”


If the upcoming AI token were to hold its fully diluted valuation of $7.5 billion, it would become part of the 20 largest cryptocurrencies by market capitalization, according to Dreyfus.


Related:Marc Andreessen, Galaxy Digital, Accolade, back new $75 million crypto fund: Report# Cryptocurrencies# Business# AI# Ocean ProtocolAdd reactionAdd reaction

News Feed

Former Bitcoin Dev Gavin Andresen Revises 2016 Blog Post, Calls Trust in Craig Wright a ‘Mistake’
Former Bitcoin Dev Gavin Andresen Revises 2016 Blog Post, Calls Trust in Craig Wright a ‘Mistake’ During the first week of Feb. 2023, the United Kingdom Court of Appeal overtur
South Korea’s 2nd largest chipmaker to invest $75B in AI through 2028
Tristan Greene3 hours agoSouth Korea’s 2nd largest chipmaker to invest $75B in AI through 2028The investment comes after a March commitment to spend $90 billion on a chip fabrication facility near Seoul.1423 Total view
Nitin Kumar20 hours agoWeb3’s revolution: Why the digital wallet is the new marketing goldThe cookie-less internet presents an opportunity, not a risk. It has the ability to redefine and strengthen the connection and t
Jesse Coghlan2 hours agoSam Bankman-Fried prosecutors submit proposed jury instructions for trialAhead of FTX co-founder Sam Bankman-Fried’s October trial, government prosecutors have laid out their requests for how th
‘Giant buy’ signal? Crypto whales transfer $1.3B to Coinbase
Ciaran Lyons5 hours ago‘Giant buy’ signal? Crypto whales transfer $1.3B to CoinbaseCrypto analysts believe the large transfers could have a “big impact” depending on where the capital is getting deployed.3767 Tot
Did Cardano Founder Steal $619 Million? Hopkinson Makes Shocking Revelation
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Casino Not on Gamstop at Mystake․com
Casino Not on Gamstop at Mystake․com press release PRESS RELEASE. Mystake.com is a popular non gamstop online casino platform that offers a thrilling gaming experience for players
$8 XRP Breakout Brewing — SEC No Longer A Roadblock, Bullish Analyst Says
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bithumb CEO Predicts Only Four to Seven South Korean Crypto Exchanges Will Survive New Rules
Bithumb CEO Predicts Only Four to Seven South Korean Crypto Exchanges Will Survive New Rules The CEO of the South Korean cryptocurrency exchange Bithumb has made
Devere Group CEO Predicts 3 Countries Will Adopt Bitcoin as Legal Tender This Year
Devere Group CEO Predicts 3 Countries Will Adopt Bitcoin as Legal Tender This Year The CEO of financial advisory and asset management firm Devere Group has predicted that three cou
Cryptocurrencies a ‘Good Alternative to Traditional Settlement Processes’ — Study
Cryptocurrencies a "Good Alternative to Traditional Settlement Processes" — Study Cryptocurrencies can be a good alternative to conventional settlement processes because they are
Biggest Movers: XRP Nears 5-Month High to Start the Weekend
Biggest Movers: XRP Nears 5-Month High to Start the Weekend Xrp, the token formerly known as ripple, rose close to a five-month high on Saturday, despite the current red wave sweep