Blockchain Solutions to Prepare for an AI Future, with Trent McConaghy of Ocean Protocol
Sep 18, 2023
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Trent McConaghy, Co-Founder at Ocean Protocol, discusses blockchain verification, open data market for AI, startup pivots, persistence, open innovation, Ocean's Predictoor platform, and universal basic income funded by decentralizing infrastructure.
Ocean Protocol aims to create a decentralized data marketplace for AI development, providing equal access to data regardless of affiliation.
Predictor by Ocean Protocol offers prediction feeds for DeFi traders, allowing users to automate trading decisions based on real-time predictions.
Ocean Protocol incorporates crowd wisdom in Predictor to ensure accurate predictions, fostering collaboration and enhancing the overall reliability of the platform.
Deep dives
Ocean Protocol's mission to level the playing field around data and AI
Ocean Protocol aims to address the challenge of accessing high-quality data sets for AI development. The platform seeks to provide equal opportunities for researchers and developers to access data, regardless of their affiliation, while ensuring privacy and provenance. By tokenizing data and building a decentralized data marketplace, Ocean Protocol allows data suppliers to monetize and share data securely. The platform also emphasizes decentralized access control and interoperability, enabling users to manage and share data easily, similar to how they manage cryptocurrencies. The goal is to create a vibrant data economy that empowers individuals and enterprises to leverage data for AI development.
Introducing Predictor: A stack and application for prediction feeds
Predictor, developed by Ocean Protocol, offers prediction feeds for DeFi traders and data scientists. Traders can access predictions for various token pairs, indicating whether prices are expected to go up or down in the next five minutes. For top tokens like Bitcoin, real-time predictions are provided with confidence levels. Traders can purchase access to prediction feeds and execute trading strategies accordingly. The platform also offers resources and tools for users to deploy trading bots that leverage the prediction feeds. This allows users to automate trading decisions based on real-time predictions, enhancing trading strategies and efficiency.
Leveraging the power of crowd wisdom to enhance prediction accuracy
Ocean Protocol incorporates crowd wisdom to ensure accurate predictions in Predictor. The platform explores the concept of multiple solvers, similar to how Cowswap optimizes trades in decentralized exchanges. These solvers run optimizations to maximize the matching of trades based on prediction data. By leveraging the collective intelligence of the crowd, Predictor aims to provide reliable and accurate predictions, which have been tested internally by the Ocean Core Team. The platform encourages participation from data scientists and traders to contribute predictions, fostering a collaborative approach to prediction feeds and enhancing the overall accuracy and reliability of the platform.
Decentralization, Immutable Assets, and Incentives: The Tools for AI and Blockchain
The podcast episode discusses the concept of decentralization, immutable assets, and incentives as powerful tools for AI and blockchain. These tools enable coordination, provenance, and incentivization within decentralized networks. The guest speaker highlights the importance of decentralized ownership of AI algorithms and shared data feeding into AI models. The combination of these tools can revolutionize industries like AI and big data, empowering individuals to contribute and benefit from the growing wealth generated by AI and blockchain technologies.
Proof of Personhood and the Potential of Universal Self-Actualization Income
The podcast episode also explores the challenges posed by AI taking over jobs and the need for a solution such as Universal Basic Income (UBI). The speaker suggests going beyond UBI by introducing Universal Self-Actualization Income (USI), which provides economic support for individuals' basic needs as well as their pursuit of self-fulfillment and self-actualization. The integration of AI and blockchain in society can help redirect the wealth generated by these technologies towards supporting UBI and USI initiatives. Furthermore, the episode touches upon initiatives such as WorldCoin and the concept of proof of personhood, with the potential to address the challenges of decentralized identity verification and civil attacks in blockchain systems.
In today's episode of The Metaverse Podcast, we host Trent McConaghy, Co-Founder at Ocean Protocol, with a mission to kick-start a New Data Economy that reaches every single person, company and device, giving power back to data owners.
Join our host Jamie Burke as he explores the evolution of AI and blockchain with Trent. Whether you're a founder, investor, or technologist, tune in to:
Learn how Trent's background in AI and chip design informs his perspective on blockchain verification and security.
Discover what led Trent to build Ocean Protocol as an open data market for AI.
Learn how your startup can use focused "zoom in" pivots to find product-market fit and traction.
Understand how resolve and pragmatism helps founders persist through volatility.
Explore why open innovation may prevent an AI progress ceiling.
Learn how Ocean's new Predictoor platform leverages crowd wisdom to generate valuable prediction feeds for DeFi traders and share proceeds with accurate predictors.
Hear Trent's case for universal basic income funded by decentralizing infrastructure.
#ai #data #oceanprotocol #blockchain #technology
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