SingularityNet, Fetch.AI, Ocean Protocol integration promotes decentralized AI development: ChainGPT CEO

The upcoming token integration of popular artificial intelligence (AI) protocols SingularityNet, Fetch.ai and Ocean Protocol will set a new standard for decentralized AI development, ChainGPT CEO and founder Ilan Rakhmanov told Cointelegraph in an interview. He explained.

“This step can lead to significant development resources and innovation collaboration towards the goal of decentralized AI development. By integrating knowledge and technologies, the merger can establish new standards for decentralized AI that improve security, privacy and transparency.”

The $7.5 billion AI Token merger was confirmed on March 27, hours after reports of a possible deal began to emerge. The three protocols are united by the common goal of developing blockchain-based decentralized AI protocols, which cannot be controlled by centralized parties or large stakeholders.

High-level integration demonstrates the advantages of decentralized AI over its centralized counterparts, says ChainGPT's Rakhmanov:

“AI is increasingly becoming second nature to consumers in their personal, professional and personal lives. That is, the security of the user's information is very important. A robust decentralized platform for AI, free from central control, is an ambition worth pursuing!”

The announcement of the protocols comes amid growing interest in AI protocols, just a week after the Saudi Arabian government announced the creation of a $40 billion investment fund for AI development. The fund will be launched in partnership with Silicon Valley venture capital Andreessen Horowitz (a16z).

The money can be done 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 protect public from AI threats

According to Alexander Dreyfuss, CEO and co-founder of Chiles, AI token integration is the ultimate path to ecosystem growth and long-term value addition:

“I'm interested in the fact that tokens will merge, but each company will remain independent, and all their efforts will be based on the same token and ecosystem. This is the future of token M&A.”

If the upcoming AI token were to hold its full value of $7.5 billion, it would be part of the 20 largest cryptocurrencies by market capitalization, Dreyfuss said.

Related: Marc Andreessen, Galaxy Digital, Accolade, back new $75 million crypto fund: report