• en
    • ko
    • ja

Menu

Decrypto

Blockchain & Crypto Analysis

Project PAI – A Decentralized Personal AI on the Blockchain

Thursday, July 12, 2018

Project PAI is a blockchain project that’s focused on bringing the concept of a “personal AI”, or PAI, to the masses. A PAI is a cryptographically-verified and intelligent 3D avatar that is designed to “look like you, speak like you, and behave like you in the digital space.” A user’s PAI is tied to him or her via an authentication process called “Proof of You”, and Project PAI envisions a world where PAIs can help their owners perform day to day tasks like scheduling appointments or shopping.

The Project PAI blockchain adopts Bitcoin’s PoW consensus mechanism, with PAI as its network utility token. PAI can be earned and used on various network services, and is currently tradable on Huobi Pro with PAI/BTC and PAI/ETH pairs.

The AI Economy & Project PAI

In the past, services like Automattic’s Gravatar enabled users to create an online digital avatar that could be used as an identity method on many websites. Gravatars are useful for simple tasks like maintaining one’s identity when commenting on multiple blogs, and the service’s dashboard proved useful in centralizing a user’s online interactions for moderation. Project PAI is looking to take this concept of a digital avatar to the next level with cryptographically authenticated PAIs, which can be trained to perform a variety of different tasks on behalf of its owner.

Project PAI, who recently launched its mainnet, envisions an “AI Economy” where a PAI can help its owner with day to day tasks, and even earn an income through interactions and contributions on the blockchain. For example, a celebrity photographer could utilize her PAI to teach a photography seminar, thus freeing up her time in the “real world” to focus on photoshoots for her “real world” clients. In this situation, the photographer’s students could learn the basics of photography through an interactive PAI, and the photographer could choose to do an “in person” Q&A at the end of the seminar.

The AI Economy concept has a lot of potential, and I can envision industry influencers and experts offering advertising and teaching opportunities through their PAIs. On the consumer side, I can see users participating in network activities like performing user authentications and interacting with PAI advertisements to earn passive income through the PAI token.

The Project PAI Team

ObEN, a California-based personal AI company, is leading development of the Project PAI project in conjunction with several other blockchain engineers and developers. In the near future, Project PAI plans to open up its Github repository for public contribution. Alex Waters, a Bitcoin Core developer and a founder of several cryptocurrency-related startups, is currently serving as a technical advisor for Project PAI.

Conclusion

Personally, I find Project PAI to be an interesting project with enormous potential. I think the concept of a Personal AI will be a novelty at first, but has the possibility to play a crucial role in our day to day lives once the technology has had time to mature. Additionally, I hope Project PAI will be able to form partnerships with mainstream social media platforms or current avatar services with adequate user adoption. From a UX perspective, a blockchain-based avatar service would be a tough pitch to the average consumer, and I believe integration into an existing popular service would be beneficial to Project PAI. Lastly, the PAI token, trading on Huobi Pro, could be a worthwhile addition to your cryptocurrency portfolio if you believe AI-enabled avatars could go mainstream in the future.

In News

#

TRON & Ontology Mainnet Token Swaps on Huobi Pro

Wednesday, June 13, 2018

TRON (TRX) and Ontology (ONT) are currently in the process of preparing for their respective mainnet token swaps. To facilitate the token swap process for its users, Huobi Pro will automatically swap any TRX and ONT tokens that are deposited to the exchange.

What is a Mainnet Token Swap?

In the world of cryptocurrency, many new projects are looking to build their own blockchain platform, but need a temporary token of sorts to raise ICO funds. In order to do this, most developers use Ethereum’s ERC-20 standard, which defines a set of rules for token generation and usage. The ERC-20 standard allows projects to specify their own token economics, and the generated tokens can be stored in an ETH wallet. Similarly, the NEO platform also offers a token standard called NEP-5.

After a project’s mainnet, or live network, has been launched, developers may choose to do a 1:1 swap of the ERC-20/NEP-5 token to tokens that can be utilized on the mainnet. In this case, TRON and Ontology have launched their mainnets. The TRX ERC-20 and ONT NEP-5 tokens won’t have any function on the mainnet, so they will lose all value following the token swap. Thus, it’s important to receive your mainnet tokens, which will retain their value because they can be used on the mainnet for staking, purchases, etc.

Token Swap on Huobi Pro

Huobi Pro, which recently finished its EOS token swap, is now supporting both the TRX and ONT token swaps. Here are two reasons why you should use Huobi Pro to swap your tokens.

Swap TRX on Huobi Pro, and trade against USDT.

  1. Manually swapping the tokens can be challenging, especially for new investors. For example, manually swapping ONT NEP-5 tokens require sending the tokens to a specified mapping address in addition to one’s private keys. With so many phishing scams at the moment, sending your tokens to an exchange is a safer and more convenient solution.
  2. If you perform a manual swap, your tokens won’t be liquid during the swap process, which can take up to 24 hours. If you’re an active trader, this means you won’t be able to react to market news because your tokens will be “stuck” during the token swap. On the other hand, if your tokens are on Huobi Pro, you’ll still be able to trade freely during the swap process.

TRON & Ontology in the Future

TRON and Ontology are two of the biggest projects in the blockchain space. Just a few days ago, TRON’s Justin Sun announced an acquisition of Bittorrent, Inc. While not many details were revealed about the acquisition, TRON stated it is interested in building a “decentralized Internet”.

Ontology, while newer in the blockchain space, has made a number of significant accomplishments as well. Recently, Ontology formed a partnership with CarBlock, a blockchain-based transportation solution. Ontology has also formed the Ontology Olympus Accelerator, a program that “invites technology and product experts across fields to collaborate in entrepreneurship and build new distributed business applications.”

Don’t miss out on TRON and Ontology’s exciting future by forgetting to swap your tokens. The swap process will start soon, so sign up for Huobi Pro today, and let them handle the token swap for you.

Korean Banks to Start Using Blockchain Authentication in July

Tuesday, June 12, 2018

Coindesk:

A national banking group in South Korea is to roll out a blockchain-based ID verification system for domestic commercial banks in just weeks.

According to a notice revealed on Monday by the Korea Federation of Banks (KFB), the new system – dubbed BankSign – is scheduled to be launched in July following a testing phase that began in April of this year.

Built on top of Nexledger, a private blockchain platform developed by Samsung’s enterprise solution division, BankSign will offer local banks an option to replace the existing ID verification system that has been in place for decades in South Korea, the KFB said.

I know Samsung Group is a huge company, but I wonder why Samsung Pass is using theloop’s CHAIN ID instead of an authentication solution built on Samsung SDS’ Nexledger. Since a number of firms in Korea have already been using CHAIN ID for authentication, I wonder if we’ll see cross-chain communication between Nexledger and CHAIN ID via ICON.

BnkToTheFuture & the Future of Finance on Huobi Talk

On this week’s episode of Huobi Talk, Simon Dixon, CEO of BnkToTheFuture, will share his views on the current system of banking and how blockchain has the potential to disrupt the industry.

BnkToTheFuture, which is currently traded on Huobi Pro, is a blockchain-based global investment platform that gives users access to fintech investment opportunities that are usually reserved for venture capitalists and angel investors. Investments can be made in both fiat and cryptocurrencies, and BnkToTheFuture handles all documentation, administration, and payments for its investors and deals. Lastly, BnkToTheFuture only charges a service fee after a successful deal has been made, and its pooled investment structure allows for tax-efficient exposure.

BnkToTheFuture’s platform token, BFT, began trading in late March at ~$0.073. After a surge to $0.35 in early May, BFT has retraced to $0.17 with $1.8 million of 24 hour volume. Today, BFT’s market cap sits at $106,870,260 with 30% of BFT trading volume occurs on Huobi Pro against BTC and ETH.

BnkToTheFuture’s Investments

BnkToTheFuture’s extensive investment portfolio includes a number of industry-leading companies, and two of the most well known ones are Exodus and Factom.

Exodus

Exodus is an all-in-one app to secure, manage, and trade blockchain assets. The wallet enables users to secure their own private keys for many cryptocurrencies and offers exchange services via the built-in ShapeShift support. BnkToTheFuture participated in a $250,000 funding round for Exodus, and 291 investors provided $368,222 of capital in exchange for convertible notes.

Factom

Factom is a blockchain solution that enables users to write cryptographic hashes of a secured data and documents on an immutable ledger. Factom, which is “often it is described as a publishing and auditing engine,” doesn’t store actual documents, but instead stores irreversible hashes that prove the authenticity of a government. In a $5 million “Series A” funding round on BnkToTheFuture, Factom was able to raise $8 million from 129 investors for 17% equity in the company.

BnkToTheFuture’s Roadmap

Currently, BnkToTheFuture is working on a voting portal that will be used to vote on potential investment listings, a beta wallet that allows whitelisted users to legally hold and trade tokenized securities, and developing an order book for tokenized securities through a clearinghouse partner and a cryptocurrency exchange for additional liquidity. Later this year, BnkToTheFuture will launch its full tokenized securities marketplace, as well as an investment index for blockchain-related companies.

To learn more about BnkToTheFuture, be sure to subscribe to Huobi Talk on YouTube and tune into this week’s episode featuring Simon Dixon. Lastly, be sure to check out Huobi Pro if you’re interested in the BFT token.

ICON & Deloitte Blockchain Lab to Collaborate on Blockchain Projects

Friday, June 8, 2018

ICON Foundation:

June 8th, 2018 — ICON and Deloitte Startup Advisory Group (Managing Director, YS Kim) signed an MOU to develop, empower and commercialize blockchain based projects. Collaboration between Deloitte Blockchain Lab, which has developed and commercialized more than 30 blockchain projects, and ICON’s technology is expected to strengthen both companies’ competitiveness in the blockchain industry.

Deloitte is one of the largest professional services companies in the world, specializing in auditing, assurance, taxation, management consulting, advising, corporate finance, and legal services. Together with PwC, EY, and KPMG, Deloitte makes up the “Big Four” – the four largest accounting firms in the world. In 2017, Deloitte led the Big Four in revenue with an estimated earnings figure of $38 billion.

Grid by Deloitte is an initiative by Deloitte that offers its clients “financial services capabilities, at the intersection of technology, customer, and innovation.” In addition to insurance and investment management products, the service also provides access to unique and potentially disruptive banking strategies. Deloitte’s website states that clients can “work with our development teams (both in-person and virtually) to build working prototypes and market-ready technology solutions that use the latest in financial services innovations such as blockchain, robotics & cognitive, digital banking and internet of things.

Last year, in an effort to extend the services offered by Grid, Deloitte started two blockchain labs – one in Ireland and the other in New York City. There are plans to add more labs around the world over time. The NYC-based team of over 20 developers and designers will “focus on developing strategic blockchain capabilities and proofs of concept into functioning prototypes to create “ready-to-integrate” solutions for financial services clients.” Furthermore, Deloitte states, “the lab will work alongside specialist teams from other countries and with Deloitte’s network of more than a dozen preferred technology companies.” I presume ICON is one of those “specialist teams from other countries”, and ICON specializes in interoperability.

Through this agreement, the Deloitte Startup Advisory Group will provide professional services for the commercialization of blockchain based projects through accounting/financial consulting, tax advisory, risk consulting, investment sourcing and overseas advancement support. In addition, the two companies will continue to search for promising blockchain startups.

So, what can we gather from all this?

Deloitte’s clients are some of the largest companies in the world, and they’re serious about implementing blockchain technology  to stay competitive and ahead of the game. They have blockchain labs around the world that are busy implementing private blockchain solutions to make their clients’ businesses more efficient and profitable. Now, they’ve partnered with ICON, an interoperability-focused blockchain. Why? My guess is they’re looking for a standardized way to make meaningful connections between private blockchains, and from a business standpoint, there’s no better solution than theloop’s ICON at the moment.

J.H. Kim, ICON Council Member:

We expect to expand our blockchain network and activities with the collaboration of Deloitte’s global network and partners.

Y.H. Kim, Deloitte SAG Managing Director:

“Collaboration between leading companies in the blockchain business is essential. By working with ICON we look forward to creating best practices for applying blockchain technology in the real world and expand our strength in the blockchain industry.”

These quotes say it all. ICON expects to expand their network by making connections with and between Deloitte’s partners. Deloitte is looking to adopt blockchain technology to stay competitive in the real world by using ICON. This partnership is mutually beneficial.