Blockchain platform OpenLedger, which aims to bolster artificial intelligence (AI) through verifiable data, has raised $8 million in a seed funding round. The round was led by Polychain Capital and Borderless Capital, with additional participation from a host of other investors. OpenLedger's platform provides a permissionless infrastructure that ensures data integrity, verifiability, and security, aiming to help developers create smarter and better performing AI models.

The company's approach is built on three pillars: data, computing, and algorithms. OpenLedger addresses the issue of data quality, a critical bottleneck in AI development, by offering a completely decentralized and verifiable data infrastructure. The company has already demonstrated its expertise in the decentralization space by collaborating with well-known brands such as Sony, Walmart, Polygon, Hedera, and Flow (Dapper Labs).

Despite the AI market's rapid growth, high valuations of centralized data infrastructure companies are challenged by data quality issues. OpenLedger's permissionless data infrastructure aims to overcome these challenges. The company plans to launch its testnet at the beginning of the fourth quarter of 2024. OpenLedger's successful seed funding round marks a significant step towards addressing the data quality bottleneck in AI development, potentially revolutionizing the AI industry.