Three AI cryptocurrency companies are reportedly about to transact to merge tokens
(Source: #Bloomberg)
By Michelle F. Davis
(Bloomberg) -- Three blockchain-based artificial intelligence companies are in talks to merge their cryptocurrency tokens, a move aimed at helping them develop decentralized AI platforms.
According to people familiar with the matter, SingularityNET, Fetch.ai and Ocean Protocol are discussing merging their tokens into an ASI token that has a fully diluted value of about $7.5 billion. The deal, which could be announced as soon as Wednesday, will depend on approval by members of each community, said the people, who asked not to be identified because the information is private.
While the three platforms will continue to operate as separate entities, they will collaborate under the guidance of the so-called Super Intelligence Collective led by founder and director Ben Goertzel, the people said. operated by SingularityNET operator. Fetch.ai CEO Humayun Sheikh, an early investor in DeepMind, the AI ââcompany Google bought in 2014, will be chairman, it was said.
Representatives for SingularityNET, Fetch.ai and Ocean Protocol declined to comment.
The discussions take place against the backdrop of major technology companies including Alphabet Inc. and Microsoft Corp. is investing heavily in AI, a field that has the potential to change the way people interact with technology.
Emerging AI-oriented platforms such as SingularityNET, Fetch.ai and Ocean Protocol are racing to develop decentralized AI technology on the blockchain, the idea being that it will not be controlled by large shareholder companies.
