March 28, 2024

Fetch.ai, Ocean Protocol, and SingularityNET Unite for an Ethical Decentralized AI Ecosystem

A powerful alliance emerges to challenge Big Tech's AI dominance, aiming to democratize artificial intelligence development.

In a groundbreaking move, three prominent players in decentralized finance (DeFi) and artificial intelligence (AI) — Fetch.ai, SingularityNET, and Ocean Protocol — have come together to unveil the 'Superintelligence Alliance'. This visionary collaboration marks the birth of an ethical and transparent decentralized AI ecosystem, poised to revolutionize AI research and development.

The alliance, announced in a press release on Wednesday, represents a bold challenge to the hegemony of Big Tech corporations in the AI landscape. Its primary objective is to establish a decentralized alternative, aiming to expedite progress toward Artificial General Intelligence (AGI) and, eventually, Artificial Superintelligence (ASI).

Humayun Sheikh, CEO and Founder of Fetch.ai, articulated the alliance's distinctive mission, stating:

"In a world of exploding AI innovation, the giants of Big Tech dominate the headlines and conversations. We’re forging a different path."

This sentiment underscores the collective determination to carve out a new paradigm in AI development.

The collaboration leverages the unique strengths and expertise of each entity to foster a resilient ecosystem for the creation and deployment of AI applications at scale. Moreover, it aims to ensure secure private data exchange for AI models while democratizing access to cutting-edge AI tools.

Dr. Ben Goertzel, Founder and CEO of SingularityNET, emphasized the imperative of democratizing AGI and ASI development in an open and decentralized manner. He stressed that this shared vision has been central to the ethos of the three organizations from their inception.

Goertzel remarked:

"It makes total sense that our three projects come together to form a tokenomic network that has greater power to take on Big Tech and shift the center of gravity of the AI world into the decentralized ecosystem."

Among the consortium's ambitious objectives is the launch of a decentralized neural-symbolic AGI system with unparalleled capabilities in logical reasoning, scientific analysis, and artistic creativity. Such a system promises to usher in a new era of beneficial decentralized AGI and ASI, transcending the limitations of existing Large Language Models (LLMs).

As part of the union, the FET, AGIX, and OCEAN tokens will undergo a merger, culminating in the creation of a new token — Artificial Superintelligence token (ASI). Community members of each project will have the opportunity to vote on the merger proposal from April 2 to April 16, 2024. Upon approval, the tokens will transition to the unified ASI token, featuring a total supply of 2.63 billion and an initial price of $2.82.

Bruce Pon, CEO and Co-Founder of Ocean Protocol, underscored the pivotal role of ASI as the native token of the network. ASI will facilitate network security, data access, and computation without reliance on traditional financial infrastructure.

Pon elucidated:

"The unified ASI token is the glue to orchestrate all actors with common incentives. ASI tokens are used to secure the public network, as data access tokens and to unlock computation without needing traditional banking and payment rails. It’s the native currency for the machine economy."

The governance of the merged tokenomic network will be overseen by the Superintelligence Collective, with Dr. Ben Goertzel assuming the role of CEO and Humayun Sheikh serving as Chairman. While Fetch.ai, Ocean Protocol Foundation, and SingularityNET Foundation will maintain distinct operational structures, they will collaborate within the ASI tokenomic ecosystem under the auspices of the Superintelligence Collective.

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