Fetch.AI seeks to combine artificial intelligence, machine learning, a distributed ledger network, and autonomous agent systems. Here, the idea is to come up with a model economy where data can be exchanged seamlessly.
For instance, the machines that Fetch would integrate with the AI protocol could also be able to solve complex day-to-day problems. And communicate to help increase efficiency beyond any known human capabilities.
A Brief Overview of Fetch.AI
The company, Fetch.AI, is incorporated in the United Kingdom. Humayun Sheikh along with Toby Simpson and Thomas Hain founded Fetch.AI.
Their sole purpose is to produce a modern economy. Subsequently, autonomous agents would be able to interact with one another without the intervention of human beings.
Potentially, Fetch.AI will lead to the creation of a decentralized digital environment. The aim is to perform many economic tasks. Furthermore, the industrial works will ensure that data trades get to continue trading effortlessly.
The company’s primary goal is to help bring information to life. Although there are a large number of applications that people can adapt to the environment.
However, by creating Fetch.AI, the company hopes to address the following areas:
- Scalability of distributed ledger systems
- Creation of economic efficiencies through the provision and supply of market intelligence. The intelligence will help to do away with problems such as energy waste by electric power grids and the shipping of empty containers.
- Do away with the disconnect existing between various centralized systems. This is because the systems cannot communicate with each other efficiently.
Technical and Commercial Strategies
According to primei.co:
Fetch wants to create a product that will facilitate data delivery, execution of tasks, provide services, and be able to earn rewards for any efforts that get displayed.
Additionally, it states that it will be using a technology that encompasses a three-layer architecture:
- Autonomous Economic Agents or AEAs
- Open Economic Forums or OEF
- Smart Ledger and Artificial Intelligence
However, some of its essential features are:
- Synchronization of 30k tps for blocks mining and 40k tps between the nodes
- uPoW—An important proof-of-work consensus helps build trust and market intelligence with time.
- OEF—This is a digital world where the AEAs operate. It provides them with access to connect to peers and other essential services. Besides, completing both low level and high-level
Furthermore, it would integrate the following:
- A machine learning intelligence that will enhance efficiency by combining past, present, and future elements. These are elements that AEAs have used in the digital world.
- Smart Ledgers—A unique combination of DAG technology and blockchain comprising two essential components. These are data that has been stored on the DAG and the smart contract on the ledger.
- AEA—This is a digital contract acting on its own. The entity is paired with other hardware. That helps it exchange data with the other agents. This ensures that it gets to fulfill all its owner’s requirements.
- An innovative product that allows for an autonomous exchange of data. It uses larger throughputs against those being used by its competitors.
- The company conducted their token sale on Binance. That helped add on to its credibility.
- Its team led by Humayun Sheikh is strong and possesses a great wealth of experience.
- The delayed launch of its VM created a snowball effect on all its milestones.
- No Github activity for a majority of its personnel.
- Many of the companies launched in the past by CEO were seen to have big liabilities. Some of them going under in only a short period.
According to Picolo Research,
Fetch.AI presents a Spec Buy rating.
Finally, we expect, this know-how will help provide a unique proposition.
Do you think Fetch.AI will integrate ML and AI into blockchain taking into consideration the challenging aspects? Let us know in the comments section below!
Image courtesy of Fetch.AI