DeepBrain Chain is one step closer to launching their AI development and exchange platform. The DeepToken they have designed will act as a currency and voting mechanism on their trading boards. There two initial trading boards will help Artificial Intelligence (AI) projects gain financial and technical support from backers who hold DeepTokens.
The exchanges that are be hosted by Huobi Cloud are a means of creating an investment environment for AI projects. So far the DeepBrain Chain Foundation has given their support to OneGame, and EtainPower. The exchanges that facilitate the trade in DeepTokens will help other AI projects to be discovered by the AI community, and develop via the “Voting Mining” method.
Instead of receiving direct support from the DeepBrain Chain Foundation, the new exchanges, and DeepToken, will allow other interested parties to enter the AI development space. It will also help smaller AI developers to benefit from larger players who have more money and experience.
DeepToken Develops “Voting Mining” for AI Discovery
According to the DeepToken whitepaper, the mission of DeepToken is to discover the best new projects in the field of AI. The whitepaper describes their idea in these terms:
“We believe that the core of an exchange is to discover quality digital asset and, in terms bring return on users’ investments. DeepToken propose the the innovative “Voting Mining” mechanism, AI experts and practitioners will screen projects to find outstanding digital assets from the AI industry.”
In a practical sense, the Voting Mining system will allow both of the exchanges to list AI projects and companies every three months. The listing rules between the two exchanges vary, with the Institution Trading Board giving priority to entities that hold 100 million or more DeepTokens.
The bottom line is that the Voting Mining mechanism is very inclusive, and will give DeepToken holders a direct connection with the AI projects that are listed on the exchanges. In addition to access to talent, the Voting Mining system creates an atmosphere where token holders have to learn about the AI projects they are supporting, which may act as a form of inter-industry marketing.
DeepBrain Chain Supports AI Advancements
There isn’t any way around it; AI development is expensive. It should come as no surprise that some of the first AI platforms to see commercialization have come from companies like Google and Amazon. These industry heavyweights have literally billions of dollars to pump into AI development, which leaves smaller players in the AI space at a relative disadvantage.
Read: Artificial Intelligence (AI) & Blockchain: Thinking Our Way to a Brighter Future?
Hopefully the access to both support and funding that DeepToken creates will be beneficial to smaller AI companies that have ideas that could grow into new markets. The DeepBrain Chain Foundation’s investment in EtainPower is a good example of how the Foundation approaches investment, and the kind of project they see as being valuable.
EtainPower is looking for ways to use blockchain and micro-finance in the electrical grid. Power Ledger is working on a similar platform, which is scheduled to go into operation in Bankok in the near future. The idea behind both platforms appears to be marketable, and will help small-scale power producers trade power in the most efficient way possible. Other larger companies are also working on the same idea, though the smaller players seem to be able to bring working systems to market faster.
Bigger AI Applications are Coming
DeepBrain Chain’s DeepToken platform is probably hitting the market at the right time. They are planning to launch the DeepToken platform over the rest of the year, with full DeepToken/fiat interchangeability happening before December, 2018. The platform is already live in an alpha version, which will help the company troubleshoot any issues that may arise.
Larger companies are having a lot of success with AI applications, and there are numerous areas where experts think that AI could play a vital role. Everything from healthcare to transportation is poised to benefit from the AI revolution, and DeepToken could be a help to smaller companies that have great ideas.
