The adoption of AI across all industries today has forced us to sit up and notice the sheer amount of data being harnessed by big tech companies. Taking a closer look at the AI and big data tokens working on innovative solutions today is important as users continue to navigate this uncharted landscape of liquidity and technology.
If your data is king then how Big Data and AI is being used is a trend worth following. In this article lets take a closer look at some of the Big Data and AI crypto projects that are working on innovative blockchain solutions.
The value of blockchain data can be catapulted with AI. Each transaction, every block, encapsulates a wealth of information waiting to be unlocked. AI algorithms can extract insights, detect patterns and predict trends with unprecedented accuracy.
These two technologies open new possibilities in finance, data management, and all industries on the cusp of digital transformation. The applications are only beginning to be realised. Let’s take a closer look at some of the top projects working with Blockchain data and AI today.
The Graph
The Graph is a protocol for indexing and querying data from blockchains. Indexing blockchain data helps to organise it in a way that it is easier to digest and use. The Graph powers DeFi applications and allows developers to publish open API’s called subgraphs. There are over 1245 subgraphs to date. It uses the GRT token.
Fetch
This project is one of three AI tokens discussing a potential merger to tackle the common goal of developing blockchain based decentralized AI solutions. FET is an Ethereum token that powers Fetch.ai, a decentralized machine learning platform for applications such as asset trading, gig economy work, and energy grid optimization.
It is known for helping Uniswap users automate trading according to predefined conditions. They note on their homepage that they are an open platform for the new AI economy. AI agents are a major component of their project and they have products that allow developers to build, deploy and scale AI applications.
SingularityNET
In a recent announcement, three major players in the AI blockchain space announced a potential merger of resources that would see SingularityNET, Fetch and Ocean Protocol come together to ensure that all AI isn’t developed under centralized protocols or large stakeholders. Through the SingularityNET marketplace, users can browse, test and purchase a huge variety of AI services using the platform’s native utility token called AGIX.
The team behind SingularityNET developed an expressive robot called Sophia that is now taking the stage in some of the major blockchain conferences globally. SingularityNET’s goal is to enable Sophia to be able to fully understand human language.
Ocean Protocol
Ocean Protocol utilizes a combination of blockchain technology, decentralized networks, and cryptographic techniques to facilitate secure and privacy-preserving data sharing. They have consistently focused on services and tools that propel the new Data Economy. They want to see data owners control their own data while preserving privacy and helping to kickstart commercialization of data, including data marketplaces.
Flare Network
Known as the blockchain for data, Flare Network has always had data at the heart of its mission and without data AI is defunct. It utilizes the network to provide data series to dapps without relying on centralized data providers. By providing access to reliable sources of financial data from Flare, other chains and web2 data sources, Flare enables developers to build faster, efficient, larger applications. FLR token reached an all time daily high in transaction volume last week with over $220m in daily volume.
Bittensor
With Bittensor, a unique approach to community governance is key. They operate machine learning models that allow users to collaborate and earn rewards in TAO tokens based on their collective value, while granting users external access for tailored utilization. This innovative platform aims to create a pure market for AI, fostering open innovation and fair distribution of rewards through decentralized governance.
Oasis Network
Oasis Network is shaping the future of privacy in blockchain. As a leading layer-1 blockchain, Using their native token ROSE, Oasis offers high throughput, low gas fees, and robust security, fueling the evolution of DeFi, GameFi, NFTs, and more. Backed by industry heavyweights and a $235 million Ecosystem Fund, Oasis accelerates Web3 growth by fostering innovative projects. Partnering with industry leaders like Meta and BMW Group Genetica, Oasis Labs prioritizes individual privacy, data governance, and responsible data use.
Origin Trail
Origin Trail is all about data sharing among blockchains. OriginTrail is an ecosystem focused on establishing a trusted knowledge infrastructure for artificial intelligence, combatting misinformation by ensuring information origin and facilitating the discovery of critical knowledge and real-world assets.
Through its Verifiable Web initiative, OriginTrail empowers leading brands and developers, leveraging its Decentralized Knowledge Graph and the OriginTrail Parachain to offer AI-driven search solutions globally. Backed by partnerships with esteemed organizations like British Standards Institution, Walmart, and the EU Commission, OriginTrail aims to bolster its trusted knowledge foundation, crucial for driving the economies of real-world assets and advancing in trillion-dollar industries.
Imagine AI-powered trading algorithms capable of analyzing vast volumes of blockchain data in real-time, executing trades with precision and agility, harnessing the power of machine learning to adapt and evolve in dynamic market conditions. Another application that is capable of transforming existing processes is in supply chain management, where blockchain provides an immutable ledger for tracking goods from source to destination.
Privacy concerns, regulatory hurdles, and ethical considerations must be addressed to ensure the responsible and equitable deployment of AI. However, blockchain technology and the above organisations are steadily working towards a secure and optimal use of AI in the future.
As the world continues to embrace artificial intelligence in everyday settings, it is critical that organisations understand the value of data. Blockchain technology can enable transparent collection of transactional data. To build future products for public consumption data and AI needs to be harnessed for good with organisations who understand the benefits.
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