The cryptocurrency market is the hub for groundbreaking innovations, however, the integration of blockchain technology with artificial intelligence (AI) has emerged as a particularly promising one with the potential to introduce the industry with new possibilities and solutions. One such advancement is the collaboration of AI firm SingularityNET with blockchain firm VeChain. These two companies have joined hands to address humanity’s most pressing challenge of climate change with the aim of reducing carbon emissions by leveraging the two most trending technologies. The Founder and CEO of SingularityNET, Ben Goertzel expressed his views on how blockchain and AI go hand-in-hand when it comes to solving problems where traditional approaches render incapable.
About VeChain
VeChain is a smart contract-compatible blockchain platform designed to enhance supply chain management and business processes. The founders emphasize their goal to provide a trustless and distributed business ecosystem where there is a transparent flow of information, efficient collaboration, and an efficient flow of complex supply chain information. With the idea to streamline business processes using distributed ledger technology (DLT), the company gained immense traction and support from the cryptocurrency community.
About SingularityNET
The SingularityNET platform allows anybody to create, share, and monetize AI services leveraging the power of blockchain. Their platform is curated in a way that developers can easily sell their AI tools and libraries and also allow the buyers to test these AI tools listed in the marketplace to understand if it suits their need. The platform was launched in 2017 and is the first of its kind. The team at SingularityNET is also the pioneer behind the development of the world’s most expressive robot, Sophia. Sophia was created with the aim of fully comprehending human language and achieving a state of advanced general intelligence.
The Collaboration Between SingularityNET and VeChain
Vechain announced its strategic collaboration with the SingularityNET on the 24th of August aiming to work together on the issue of carbon emission. In a joint statement released by the firms, they highlighted their intention behind the partnership. The companies plan on merging the enterprise data provided by VeChain with SingularityNET’s advanced AI algorithm to automate manual processes and provide real-time data. The Founder and CEO of SingularityNET further stated that they could deploy AI to identify new methods to use VeChain’s blockchain data to minimize carbon emissions and eventually reduce pollution.
Antonio Senatore, VeChain’s Chief Technology Officer added That the two trending technologies of AI and blockchain can offer game-changing potential for industries and businesses looking to explore new avenues.
The partnership between VeChain and SingularityNET is a significant milestone in the ongoing collaborations of AI and blockchain technology with several other companies following the same footsteps. In June, Polygon, an Ethereum layer-2 solution, announced the integration of AI to start Polygon CoPilot. Similarly, MetaTrust Labs is working on a new project GPTScans which is used to detect logic vulnerabilities in smart contracts. The fusion of these technologies offers a ray of hope, especially with VeChain and SingularityNET working together to reduce carbon emissions.
Disclaimer: This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
