Decentralized AI Society Plans Regulatory Pilot, Venture Fund: Co-Founder
The newly formed Decentralized AI Society (DAIS), a blockchain and artificial intelligence nexus, plans to launch a regulatory pilot and AI venture fund in Bermuda next year, according to DAIS co-founder and chairman Michael Casey. Cointelegraph in an interview.
Both startups aim to address what Casey describes as the threat of centralization in AI models at a rapid clip.
For the AI Fund, DAIS is “investigating how decentralized economic groups can raise capital without falling into the traditional trap. [venture capital] Model,” Casey said.
Eliminating centralized control can play an important role in enabling collective ownership and growth, Casey added.
Meanwhile, DAIS aims to pilot a new AI regulatory model in Bermuda “to define principles that can accommodate decentralized organizations,” Casey said.
“Current policy frameworks, which focus on centralized registration models, are not compatible with decentralized systems,” he added.
Source: DAIS
Related: Crypto-native AI Will Transform Web3: Coinbase Ventures
Launched in September, DAIS seeks to guide policymaking and technology development at the intersection of AI and Web3.
Casey aims to serve as a counterweight to AI developers — such as OpenAI and Anthropic — who are expected to invest in leading regulatory frameworks in the coming years.
“Major players are often lobbying for deregulation to establish their models as standards, which can exclude competitors,” Casey said.
Blockchain-enabled AI has attracted increasing interest from crypto-focused venture capital (VC) firms, which invested $213 million in AI-related startups by the third quarter of 2024.
Agentic AI has emerged as a hot topic for liquid token investors after a16z co-founder Marc Andreessen donated $50,000 worth of Bitcoin (BTC) to Truth Terminal in July.
Since then, newly launched AI tokens such as Goatseus Maximus (GOAT) and AI16Z have been growing billions of dollars in market capitalization.
The integration of AI and blockchain will transform the digital economy and ultimately create a world where autonomous AI agents can freely interact with people on the Web3, Coinbase Ventures said in October.
“We envision a future where agents will have their own crypto wallets where they can trade autonomously. […] Or use stablecoins to pay people and other agents to complete tasks necessary for their general purpose,” said Coinbase Ventures.
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