What if Artificial Intelligence Combines with Cryptocurrency?
One such merger actually happened earlier this week, when blockchain networks Fetch.ai, SingularityNET, and Ocean Protocol combined their tokens into one and created an alliance for decentralized AI — or “ASI,” which stands for “artificial superintelligence.”
Their partnership aims to provide an alternative to tech giants’ growing control of the AI industry.
What’s the Purpose of the Alliance?
All three blockchain networks will continue to operate as before, but the new agreement will enable the platforms to collaborate to create blockchain-based decentralized AI protocols, which cannot be controlled by large stakeholders or centralized parties. The goal is to provide a viable alternative to tech giants’ control over AI development, usage, and monetization.
Fetch.AI is a blockchain network that provides tools to build innovative AI apps and services. Its native token is FET. Ocean Protocol is a blockchain-based marketplace that acts as a bridge between data providers and data consumers, and its native token is OCEAN. SingularityNET, on the other hand, offers a blockchain-based AI marketplace, and its native token is AGIX.
Tokens Jumped Almost 30% in a Week
According to crypto tracking site CoinGecko, Fetch.ai’s FET token has a market cap of $3.3 billion. Following that are SingularityNet’s AGIX token, with a market cap of $1.7 billion, and Ocean Protocol’s (OCEAN) token, with a market cap of $856 million. The merger will bring the new token ASI to a fully diluted valuation of $7.5 billion.
Over the past seven days, FET shares rose 28%, AGIX shares soared 31%, and OCEAN shares jumped 28%.
From Chip to Blockchain, AI is Everywhere
In the past few years, artificial intelligence has gained widespread acceptance across all sectors of technology. Microsoft, Amazon, Google, Apple — everyone is betting on AI. As blockchain companies strive to make data more decentralized and transparent, it’s no wonder they want to join the AI space.
Conclusion
The combination of artificial intelligence and cryptocurrency has the potential to revolutionize the way we interact with technology. With the creation of ASI, a decentralized AI protocol, the tech giants’ control over AI development, usage, and monetization is being challenged. The future of AI is exciting, and it will be interesting to see how this new alliance will shape the industry.
FAQs
Q: What is ASI?
A: ASI stands for “artificial superintelligence,” a decentralized AI protocol created by the merger of Fetch.ai, SingularityNET, and Ocean Protocol.
Q: What is the purpose of the alliance?
A: The alliance aims to provide an alternative to tech giants’ growing control of the AI industry by creating blockchain-based decentralized AI protocols.
Q: What are the benefits of this merger?
A: The merger brings together the strengths of three blockchain networks to create a decentralized AI protocol, making data more transparent and secure.
Q: What are the implications for the AI industry?
A: The creation of ASI challenges the tech giants’ control over AI development, usage, and monetization, paving the way for a more decentralized and transparent AI industry.
Q: What are the next steps for ASI?
A: The next steps for ASI will depend on the development and adoption of the protocol, but it is expected to be a major player in the AI industry.
