Review on SingularityNET by Gabriel Medina

Name: SingularityNET
Item: SingularityNET
Rating: 5

October 13, 2020

Artificial intelligence service for the world

The value and power of artificial intelligence is growing every year, and it will soon dominate the internet, as well as the economy as a whole, however, AI tools are mostly developed by large companies.

SingularityNET (AGI) is a cryptocurrency that has as a project a protocol specifically designed to solve problems at the same time that the AI ​​market opens worldwide, AGI will allow anyone to use AI services in an easy and efficient way. SingularityNet, is a company of the creators of the robot Sophia. SingularityNET is an ERC20 token of the Ethereum network like any other but its platform has different characteristics. The goal of this platform is to ensure that the technology is benevolent according to human standards, and the network is designed to incentivize and reward beneficial players.

This platform will create a world market for AI services, including software, robotics and IoT (Internet of Things) and other hardware, using decentralized and open mechanisms to support contributions from the widest possible variety of contributors, and support of use by the widest possible variety of users. It will drive the evolution and emergence of new technologies, with different AI agents, with operations at different levels of general intelligence that can be interconnected and combined with each other to create increasing levels of AI.
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Pros

It enables anyone to monetize AI, allowing companies, organizations, and developers to buy and sell AI at scale.
It allows AI-as-a-service on a platform without permission, so anyone can use AI services easily.
By tuning each AI algorithm, SingularityNET creates a simple protocol to exchange data and coordinate processes between AI and solve the communication problem.
To promote the market, SingularityNet will not charge any transaction fees according to its white paper.
It will drive the evolution and emergence of new technologies.
It will create a world market for AI services.

Cons