Blockchain Startup Deepbrain Chain Releases Training Net
Deepbrain Chain announced today the release of its AI Training Net, the precursor to its artificial intelligence computing platform. It is one of a recent crop of startups taking inspiration from blockchain technology to create new business models.
UPDATE: Article updated to reflect the fact that Deepbrain Chain is not doing a token airdrop, as Bitsonline was initially informed.
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Booming AI Field Targeted by Deepbrain Chain
Deepbrain Chain’s network is now available to universities, research centers, and companies who want to purchase computing power for machine learning applications such as Natural Language Processing, voice recognition, driverless cars, and medical imaging.
Sebastian Liu, Director of Marketing and PR at DeepBrain Chain, told Bitsonline that:
“Users – such as universities, enterprises, and otherwise – can now upload their data onto the platform. We describe it as “testing” the system as opposed to “using” because certain backend functions aren’t 100% operational.
Relatedly, we would describe the platform as commercialized instead of operational. Users can now upload data & test our platform’s features, as well as transact with DBC, but the platform is in beta, if you will. We’re essentially trying out the token ecosystem and other features and making sure the computing power is 100% sustainable.”
The startup is looking to join a fast-growing space, with professional services firm Deloitte forecasting that spending on AI and machine learning will grow from $12 billion in 2017 to $57.6 billion in 2021. However, Deepbrain Chain is entering a competitive field currently dominated by tech giants such as Microsoft, Google, IBM, and Amazon, who all offer Machine Learning as a Service (MLaaS) and APIs through their cloud server platforms.
Deepbrain Chain’s Differentiating Factor
Deepbrain Chain is taking a different approach, hoping to use a token economy model to make the computing resources more affordable. Its network connects nodes providing computing power for machine learning tasks with buyers. DBC tokens are accepted as payment by those using the network, as well as being used to pay those who provide computing power to it.
The company, whose foundation is based in Singapore, completed an ICO in December 2017, selling around $11.75 million worth of DBC. The network supports deep-learning frameworks such as the Microsoft Cognitive Toolkit, Caffe, and Tensorflow.
The Training Net will be able to support large numbers of enterprise users, have low latency, and offer privacy protection through encryption algorithms, the company claims. It also makes use of smart contracts to facilitate secure transactions on the platform.
Blockchain Concepts Have Inspired New Applications
While novel in its conception, Deepbrain Chain isn’t the first startup to borrow ideas from the design of cryptocurrency networks for use in new ways. Another company, Ocean Protocol, is creating a blockchain-powered marketplace for the data used in machine learning. Like Deepbrain Chain, it has a native token that buyers and sellers will be able to use to make transactions, and also integrates a token-curated registry.
Another company inspired by blockchain is Power Ledger, an Australian startup that is working on a peer-to-peer energy grid. It foresees so-called microgrid resources — like solar panels with attached batteries — being able to trade surplus power with others via a decentralized network.
The online advertising space is also being disrupted by blockchain ideas, with both Brave and MetaX using blockchain-powered platforms to remake how ads are served to web surfers. It is still too early at this point to tell which, if any, of these concepts will be successful. But it seems significant that entrepreneurs in many unrelated fields are willing to bet that using a blockchain has the possibility to create new business models and services.
Have your say. Is blockchain technology leading us to a whole new way of doing things?
Images via Pixabay