The Singularity.NET Foundation is planning what might be the most disruptive blockchain platform of all. It plans to sell Artificial Intelligences (AIs) through the blockchain.
The Singuarlity.NET platform is designed as a decentralized marketplace for Artificial Intelligence. That means anybody will be able to buy an AI with its Artificial General Intelligence (NYSE:AGI) token.
Users will buy Artificial Intelligence Agents, and the AGI token itself will literally be backed by AI. Note: a version of AGI that is not backed by artificial intelligence is currently for sale. That version is apparently a speculative investment in Singularity.Net’s business.
“SingularityNET lets anyone monetize AI, allowing companies, organizations, and developers buy and sell AI at scale,” the Foundation’s website claims. “SingularityNET enables AI-as-a-service on a permission-less platform, so that anyone can use AI services easily.”
“The AGI token lets anyone transact AI services globally, without censorship or exclusion,” Singularity.NET’s website claims. “The AGI token incentivizes network participates to help the best AI services get discovered and improve the network.”
“The AGI token makes global AI to AI microservices industry come to life, allowing organizations to buy processing on demand,” Singularirty.NET boasted.
Automation in a Box with AI Linking
The Singularity.NET has the potential to be super-disruptive, make large amounts of money for AI developers, and kill vast numbers of jobs by making automation cheap and easy.
“By making it easy for AI services to be linked together, the Singularity.NET market can offer automation-in-a-box at ultralow costs,” its website claims. That means it would be possible for almost anybody to buy an artificial intelligence that can operate an industrial robot or perform a function like accounting.
A huge user of such systems would be retail, especially online retail. Walmart (NYSE: WMT) is already experimenting with Code Eight; an AI shopping assistant for affluent moms. Singularity.NET’s closest direct competitor the American Aitheon is planning an automated store and a market for artificial intelligence.
An App Store for AI
“The AGI token lets anyone transact AI services globally, without censorship or exclusion,” the SingularityNET boasts.
Such a Token solves one of the biggest problems with AI assessing value to it and monetizing it. That will enable AI designers to sell artificial-intelligence in the way people sell software today.
A good way to think of Singularity.NET is an “app store for AI;” which would be an extremely disruptive solution. Interestingly enough, Singularity has the brainpower to make it happen the company claims to have more than 50 AI developers and 10 PhDs on the payroll. It also has some serious advisors; including Jim Rutt, the former CTO at Thomson-Reuters.
The world's most expressive humanoid robot
The most interesting “employee” at Singularity.NET is Sophia Hanson who is billed as “chief humanoid.” Sophia is called “the world's most expressive humanoid robot.”
On the surface, Sophia looks like an animatronic dummy similar to those things at Disney theme parks but she is far more than that. The impressive thing about Sophia is that she is run by dozens of algorithms, many of which are licensed from third parties.
Sophia is a demonstration of Singularity.NET’s technology and of what can be done with AI. The same technology can be used to operate complex pieces of machinery such as CNC lathes, vehicles, and bulldozers. Aitheon has demonstrated a remote-controlled Jeep Rubicon 4X4 that operated through the blockchain.
One technology demonstrated by Sophia is AI to AI communication. This solves another major problem with artificial intelligences, many of them simply cannot communicate with each other. That means it is impossible to create a network of AIs for commerce and other applications.
“Singularity.NET is designed to meet that demand, providing the only protocol for AI to AI communication, transaction, and market discovery,” the website claims.
Sophia is a demonstration of a complex decentralized system operated by AI. Such technology can be used in environments like retail stores.
Tapping a Huge Market
Singuarlity.NET has the potential to make a lot of money because the potential market for artificial intelligence might be huge.
The foundation estimated that the market for AI today is $200 billion and the value of that market might grow to $3.1 trillion by 2025. Note: the source of this information is not revealed, SingularityNEt attributes it to “experts” but fails to identify those sources.
This makes AGI, which is apparently an ERC20 protocol Ethereum-compatible token a potential moneymaker. Among other things AGI and SingularityNET are described as “A Scalable Transaction Infrastructure, for the AI to AI Economy: To enable an AI to AI economy, a scalable transaction infrastructure is required” in a whitepaper.
“AGI tokens let anyone buy and sell AI processing power from around the world,” the whitepaper claims. If that is true AGI might be worth a lot of money. Among other things, AGI might make open-sourced brokerages for AI possible.
Is AGI a good investment?
The AGI Token is an interesting investment because of its low price. The token had a Coin Price of 17.8318¢ (0.00002069 BTC or 0.00033910 ETH) on 25 March 2019.
The AGI Token had a Market Capitalization of $93.03 million (10.0795million BTC or 176,910 ETH) on 25 March 2018, according to our friends at Coin Market Cap. There is also a lot of interest in AGI because it had a Market Volume of $325,865 (37.81 BTC or 619.68 ETH) on the same day.
That’s very good for a token on a platform that is not even fully functional yet. The Beta testing of the NET is scheduled for July 2018. The TGE will probably occur in early 2019 because the release of the platform is scheduled for January 2019. The NET itself is not supposed to be fully functional until 2021.
Singularity.NET plans to distribute 500 million AGI around 200 million AGI will be set aside for a reward pool. Another 180 million will be distributed to the founders and 80 million will be distributed to the Singularity.NET Foundation. About 40 million AGI will be distributed to the supporters of its campaign as bounties.
There is currently a Circulating Supply of 521,710 million AGI according to Coin Market Cap. The AGI Token is designed to have a total supply of one billion AGU.
More information about Singuralrity.NET and the TGE token can be found from these sources:
This story initially appeared on Market Mad House please visit it to see more stories about the disruptive world of cryptocurrency.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.