AI×Blockchain ecosystem to be developed by AI Crypto

The proposition addresses ineffective GPU resource usage and corporation oligopoly on research data sets
14 March 2018   94

A startup AI Crypto that deals with the matters of combining AI and blockchain in order to make machine learning more affordable has begun the development of the whole ecosystem for such hybrid concept. AI Crypto team today announced the release of their new technology and a consensus algorithm. Earlier GPU resources were misused as individuals were able to assign specific GPU calculations. With the introduction of Distributed GPU Network technology, requests are, as the name goes - distributed among all GPU pools homogeneously.

A new consensus algorithm Proof-of-Value was designed to verify transactions by means of machine learning calculations. On top of that, an incentive mechanism is proposed to give researchers a broader access to gigantic amounts of data sets: every time a shared data set is used its provider receives AI Crypto token in return. Eventually such approach will also facilitate a more even AI data distribution.

AI Crypto platform assumes that companies will be able to access models developed on the blockchain given that the developers have much less tedious environment of data access and model building. The developer team launches an ICO in May 2018, a beta API - in December 2018 with a full fledged release in june 2019.

AI Crypto aims to revolutionize both the blockchain and ai space. I envision a future where all AI calculations are run in the ai crypto platform.


SJ Lee

CEO, AI Crypto

Cryptocurrency to be Regulated in France

French Ministry of the Economy and Finances creates working group to regulate cryptocurrency
22 March 2018   118

Bruno Le Maire, the French Minister of the Economy, announced the government initiative to constitute the instructions and regulations towards cryptocurrency. The group is also aimed to decrease the influence of Bitcoin and altcoins to the formal system of economy with the help of required concept. These measures would help French government to prevent tax avoidance and some other criminal activities (such as money laundering).

In an op-ed that was published in French media this week the Minister of the Economy Bruno Le Maire made a promise not to miss the blockchain revolution. He refined the reasons of the French authorities`decision to regulate the technology. According to his point of view, it is impossible for any consumer or entrepreneur to carry out a transaction, invest, develop in business being in a regulatory vacuum. The Minister also put this position on the top among the rest questions to be discussed at G20 Summit in Buenos Aires. Bruno Le Maire is sure that the role of France is to be a driving force in “building the world of tomorrow”.

The Minister is going to present his case at the G20 Summit in 2018 in Argentina. He hopes that the framework can help in decreasing illegal activity in cryptocurrencies. Le Maire also explained that the sphere of digital funds is extremely attractive for criminals.

The leader of the working group is Deputy Governor of the Central Bank of France Jean-Pierre Landau. The French Central Bank supports the Government and hopes there would be no negative impact and consequences for the traditional economy system.

The key object of cryptocurrency regulation is to limit various negative factors in the financial sphere caused by digital money, such as the price volatility. Le Maire claims that at the same time the regulation of the cryptocurrency can support the development of the technology and can even lead to the economic growth. As blockchain can destroy not only traditional daily practices in banking and financial markets, but also patents and certified acts, the French Minister of Economy urges that the working group should foresee all these changes and become “actors of this revolution”, instead of simple viewers.