SingularityNET Blockchain AI Decentralized Marketplace Officially Launches Beta Version Today

SingularityNET, which is known for its work in blockchain artificial intelligence, has been working on a decentralized marketplace to offer to consumers.

As of February 28th, the beta version of this Ethereum-based project is finally live. In the press release, CEO and chief scientist Ben Goertzel said that the pre-beta version has already been tested by volunteers in the SingularityNET community.

This AI firm is presently working alongside Sophia, which is the robot developed by Hanson Robotics in other projects. They have managed to complete a $150 million ICO in 2017, though it eventually gained momentum that brought the total collected to $36 million, which is the limit on the hard cap of the platform.

Furthermore, after their token offering was complete, the company established relationships with over 20 companies and institutions. Among those relationships was UNESCO and the Malta government.

The goal of SingularityNET appears to be the creation of a marketplace on the blockchain that facilitates the purchase of algorithms amongst small businesses and government agencies. These algorithms were previously only available to investors in Silicon Valley, according to the press release.

On the marketplace, shoppers will have access to image and emotion recognition services, object detection, speed recognition, and more.

As SingularityNET sees it, the AI industry is evolving and expanding fast, and they project that the technology will ultimately be responsible for over $15 trillion filtered into the economy of the whole world by 2030. Goertzel elaborates, saying,

“As the AI economy matures and expands, the demand for a democratic and decentralized AI infrastructure is becoming increasingly clear, as is the need within businesses across the spectrum for AI tools with a greater variety of focus and generalization capabilities.”

Recently, in November of last year, SingularityNET partnered with the government in Malta to develop a pilot project with their technology. The mission of the project was to “explore a citizenship test for robots in the process of drafting new regulation for AI.”

Kakao Corp, an internet and messaging app company in South Korea, recently decided that their investments would continue in blockchain technology and AI technology. However, they are pursuing these interests at the expense of themselves, considering the excessive costs.

Interest in AI technology appears to be continually expanding right now, which is further demonstrated by a recent token sale by Fetch.AI, an AI-based company. Over 69 million tokens were sold in under a minute, and the company quickly became the benefactor of $6 million for their funding.

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