If there is one technology that can generate the same amount of excitement as artificial intelligence these days, it has to be blockchain.
Artificial intelligence (AI) has been making waves in recent times, especially with the emergence of ChatGPT. However, there is another technology that has been generating a lot of excitement for much longer - blockchain.
The buzz around blockchain started way back when Bitcoin first made its mark on the world in the early part of the last decade. Now, as the two fastest-growing technologies in the industry intersect, we have good reason to think there’ll soon be even more excitement, for this can provide a number of benefits.
In a recent report, the analyst firm Nansen forecasts that AI agents may ultimately become the primary users of blockchain technology. Because blockchain is decentralized, it allows AI systems to run in a more secure and transparent way, bringing key advantages to data management.
For instance, blockchain can provide AI with a tamper-proof record of data transactions, therefore improving its credibility and reliability. In addition, it can assist with the transparent sharing of data among AI systems, which is essential for training and enhancing the underlying AI models.
The integration of AI and blockchain is not just some far off concept. In fact, it’s something that’s unfolding as we speak. As a result, some interesting projects are starting to take off. Here are five of the most promising AI blockchain projects to keep an eye on in 2023:
1. Qubic
There has been a lot of concern about the centralized nature of popular AI models such as OpenAI’s ChatGPT and Google’s Gemini, highlighting the need for more transparent alternatives, and that is what Qubic is working on.
Qubic is at the forefront of the decentralized AI movement, having built a unique, quorum-based computational network to facilitate more transparent data sharing and training.
Unlike Bitcoin, which uses a proof-of-work consensus algorithm and essentially wastes all of the computing power generated by its network, Qubic aims to leverage this energy to do something more useful. Its Useful Proof-of-Work consensus mechanism allows network nodes to provide computational power to AI applications.
It essentially recycles the energy resources used to mine QUBIC tokens and process transactions, so it can be used by AI developers who need access to low cost infrastructure to train AI models. It can be thought of as an AI cloud server network, with the advantage being that it’s more affordable, and more transparent than traditional GPU-based networks.
In addition, Qubic also facilitates data sharing, enabling anyone to upload training datasets that can be used by AI model makers to train new algorithms. The QUBIC token plays an important role in this network, as it’s what’s used by AI developers to pay for access to Qubic’s network and its training datasets.
Node operators are rewarded with the prospects of mining new QUBIC tokens. As well as training AI models, Qubic’s resources can be used for AI inference, processing tasks such as problem solving, natural language processing and image recognition.
What’s more, as the network crunches these tasks, it slowly but surely accumulates more knowledge, which it shares with the AI applications it hosts, making them ever-more powerful. Its ultimate goal is to become the foundation of “general artificial intelligence” models that can work autonomously, without the need for human input.
2. Render Network
As the name suggests, Render Network is all about providing computational power for AI rendering, and it does this in a decentralized way using blockchain. It’s paving the way for the distribution and management of AI rendering tasks, providing the resources needed to make high-quality, photorealistic image creation available to everyone in a cost-effective way. It’s targeting industries such as gaming, movies, architecture and more.
Key to Render Network is the RNDR token, which is used by network participants to pay for access to GPU-based rendering services. The computational power can be supplied by anyone with a GPU. They simply connect their laptop or PC to the network, and whenever it’s sitting idle, it will make those resources available for others to use.
In some ways, Render Network is similar to GPU mining, with the aim being to maximize the efficiency of GPUs, which often spend hours sitting idle, doing nothing, when their owners are not using their computers. It enables GPU owners to monetize those resources, and those who need to power rendering workloads have access to a more affordable alternative to cloud-hosted GPU services.
As the demand for AI-generated content increases, Render can play a key role in facilitating cost-effective access to decentralized rendering services.
3. Fetch.ai
Fetch.ai is combining blockchain with AI to power what it believes will eventually become a vibrant economy for autonomous digital twins. Its network powers “Autonomous Economic Agents” that can perform a range of different tasks in the digital world, for individuals and businesses.
Examples include AI agents that can manage supply chain logistics, or a digital assistant that works to schedule client appointments. With its machine
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