Fetch.ai, Ocean Protocol, and SingularityNET form an alliance to create a decentralized AI alternative challenging Big Tech.
Fetch.ai, SingularityNET, and Ocean Protocol – collectively known as the “Artificial Superintelligence Alliance (ASI)” – announced the finalization of their merger in June. It aims to create the largest decentralized network for AI with the new ASI token.
Starting June 11, 2024, FET will be renamed ASI, and the merger will be completed by June 13. The ASI token will operate across the entire network, offering significant scalability and power.
Artificial Superintelligence Alliance
According to the official press release shared with CryptoPotato, users can begin swapping FET for ASI tokens through a secure token migration contract on June 11, with AGIX and OCEAN tokens following on June 13. This contract will securely migrate tokens for over 200,000 holders at previously set exchange rates.
Ben Goertzel, CEO of ASI Alliance, said,
“This merger paves the way for a new era in AI, combining our strengths to achieve unprecedented advancements. This is only the start of a broader movement to gather together forces working toward beneficial decentralized AGI and super-intelligence.
The ASI token is a symbol and a practical tool for our shared quest to leverage advanced AI, blockchain, and decentralized governance to move quickly and effectively toward an amazing future for all.”
The merger aims to bring decentralized AI infrastructure closer to reality. SNET, Fetch.ai, and Ocean Protocol’s collective research, brands, technologies, and products will be used to set the stage for an open, scalable AI system that uses blockchain to ensure ethical and trustworthy AI development and usage.
Challenging Big Tech’s Dominance in AI
The partnership formed by the trip also seeks to challenge the dominance of Big Tech in AI development amidst the sector’s rapid expansion.
Longtime AI proponents and early adopters Ben Goertzel, Humayun Sheikh, and Trent McConaghy have established the ASI Alliance to accelerate the commercialization and monetization of their technologies, making advanced AI platforms and large datasets widely accessible. Their end goal is to elevate the development of Artificial General Intelligence (AGI) as a precursor to achieving superintelligence.
Sheikh, who is the CEO and Founder of Fetch.ai and ASI Chairman, said,
“With our newfound economies of scale, the Alliance can make real inroads to change the way Big Tech controls the narrative and direction of AI. We have a long way to go, but this first step provides a foundation for others with a similar mission to make a difference.”