Artificial intelligence is a very interesting technology which can offer a lot of benefits. A lot of potential use cases can be unlocked by combining AI with blockchain technology. These projects, listed in alphabetical order, are exploring ways to combine the best of both worlds into one appealing and comprehensive offering.
4. DeepBrain Chain
As the name somewhat suggests, DeepBrain Chain is looking for ways to merge blockchain technology and artificial intelligence in a comprehensive manner. Its main objective is creating a distributed AI computing platform with a strong focus on peer-to-peer marketplace action. More specifically, the marketplace aspect would let users from all over the world share excess computing power for AI purposes.
Nodes of the DeepBrain Chain ecosystem will conduct various activities. Potential uses include mining the native token, cloud computing, and running corporate-level applications. Since everyone in the world can contribute excess computing power to the project, its long-term success will heavily hinge on user participation. Given the competition in this space, that may prove to be a rather steep hill to climb.
Compared with DeepBrain Chain, Numerai is tackling an entirely different business model despite using the same technologies. Numerai lets users submit their predictions of the overarching hedge fund’s future performance. These reports can be downloaded from the website to help users train their machine learning models. By collecting and processing data, Numerai can create a collective AI model to help the hedge fund determine its future investment strategy.
One of the more exceptional use cases of blockchain and AI is found within the Peculium project. This savings and investment firm aims to make it easier for investors to manage their cryptocurrency portfolios. It’s an interesting concept, as managing exposure to incredibly volatile markets has been a big challenge for a lot of companies and service providers.
By using a proprietary AI advisor known as AIEVE, historical information about cryptocurrency markets is turned into machine learning algorithms to determine the most optimal trading strategy. Information regarding prices is collected from many sources, including news, books, and real-time market data. It’s an interesting project to keep an eye on, especially as cryptocurrencies become a lot more mainstream.
It is very difficult to look past SingularityNET, as it aims to become a decentralized marketplace for artificial intelligence algorithms. Developers and AI vendors can offer their services in exchange for similar services and cryptocurrencies alike. All exchanges taking place through this decentralized marketplace infrastructure are conducted using smart contracts, which automate the entire process.