Today’s review has been getting lots of attention, but we noticed some confusion about what the project really does...
Today we’ll explain SingularityNET so anyone can understand.
Let’s dig in…
SingularityNET (ticker: AGI)
Mid-Tier Shitcoin (should be higher prob)
Wtf is this shit?
Great question! It’s certainly a forward-thinking idea that has LOTS of dependencies in order to achieve the team’s full vision.
Now...first off, “the singularity” is a theory that there will come a point in technological advancement (specifically artificial intelligence) where human intelligence becomes obsolete. Technology would start to improve upon itself and there would be no way for us to keep up. Think Skynet..
Now, Artifical Intelligence research has major funding today in some areas (smart advertising networks and other clear business applications), but not quite as much towards the seemingly endless number of broader use-cases out there. There is a big disparity between what researchers and AI academics want to achieve, and what businesses are willing to fund. Most businesses need very clear and explicit AI functionality and not general intelligence OR specific biological research related to life-extension or diagnosing and curing illnesses. These niches are lacking in funding and competitiveness.
To reiterate, there is a disparity between the areas of AI research that businesses are willing to fund and what many academics and researchers want to create from a more holistic perspective, but less financially viable.
SingularityNET is a project which closes this gap, creating a new business model and arguably entire industry to incentivize anyone globally to contribute to existing AI projects or create their own.
Simply put, SingularityNET is a marketplace of AI services. This is a marketplace of minds! Yes, we know….mindblowing.
So, they plan on deploying a general intelligence AI service, in addition to other specific AI servuces that are compatible with eachother. They also want their system to be interoperable with other blockchains (right now they are based on ETH...AGI, is an ERC-20 token).
In the system, there are agents (nodes) which can vote on different services and rank them. Rankings are based on other nodes ratings' of them in addition to how much they are staking or if the node/agent is ran by a business that went through KYC.
ANYWAYS, in the end the hope is that the AI services will be sophisticated to the point that they can rate each other based on other technical criteria (run-time and consistency) and grow itself further.
This also opens the door for a new market. Imagine a genius in some random country works on his own specific service. He now has a marketplace to deploy his code, get some credit and AGI tokens as his service is used.
They plan on launching AI powered chatbots, biomedical data analysis, a SingularityNET Registry for the services, agents, and more. Then, the hope is that anyone and everyone will contribute their own piece to the marketplace.
TL;DR - SingularityNET is working on the first AI service marketplace. In this marketplace, services can be bought and sold. This introduces an entirely new market and hopefully will create competitiveness amongst the AI world so we can see creative, unique and focused AIs that otherwise would never have existed due to minimal “business” applications.
Who tf is behind this shit?
Dr. Ben Geoertzel is the frontman, CEO, and Chief Scientist of SingularityNET and Chairman of OpenCog Foundation. His buddy, Dr. David Hanson is the Robotics Lead, and they have 50+ other team members. They are basically partners (we assume) with Hanson Robotics (yes, Hanson) where Dr. Hanson is the founder and they are responsible for the well-known Sophia bot.
All in all, mid-tier, mostly due to market metrics and the fact that there is a long way to go before there is a fruitful marketplace. They do have some competition from big players such as IBM's Watson. We have to see how the population and next generations react - if they are motivated to work towards this new marketplace. At this moment, highly speculative, but the team is no joke and very capable. We wish them luck. Long-term HODL.
Hope you learned some shit and come follow us on Twitter!
- Mike and Aaron