FETCH.AI- Don’t miss this ICO

FETCH.AI- Don’t miss this ICO

Blockchain Projects Technology
June 20, 2018 by IBC Staff
888
FETCH

In modern society we are achieving a higher and higher rate of interconnectivity between various devices from our smartphones, laptops to different home and car appliances. However, due to the centralized nature of these systems we are not able to fully utilize the vast majority of data that is generated by the interactions of these systems. In fact, only a very small fraction of the data that is generated are utilized which leads to a huge loss in the opportunity of creating more economic value and in this way prevents complex economic activity to take place. FETCH is attempting to create a digital decentralized world which combines the best of machine learning, AI, blockchain and Directed Acyclic Graph (DAG) technologies to unlock these interactions between different economic agents. These agents known as Autonomous Economic Agents (AEAs) are fully capable of interacting with one another by transacting, exchanging values or entering into legal agreements with each other and do not need any human intervention. Some of the innovative developments being done by FETCH are:

Smart Ledger

Most of the ledgers being used in the blockchain space today are very inefficient and not capable of operating in a smart autonomous network. Using the elements of DAG as well as blockchain, FETCH will create a ledger capable of scaling to millions of transactions per second at near zero cost.

Consensus Mechanism

FETCH uses a new consensus mechanism called the Useful Proof of Work which eliminates the waste of energy that is currently happening with all blockchains employing Proof of Work consensus mechanism. It is called “Useful” because the energy consumed in solving computing problems will be used to train the machine learning algorithms therefore making the ledger ‘smart’.

Open Economic Framework (OEA)

OEA is a high level functionality in FETCH which offers life support to the autonomous economic agents which can enable them to operate and interact with one another in this environment.

FETCH has a private internal test net which demonstrates its key innovations: scalable smart ledger, OEA and some aspects of machine learning technologies. The public test net along with code is going to be released to the public soon.

Team, Early Investors and Partnerships

FETCH has a team made of leading experts in Machine Learning and Artificial Intelligence from Google’s AI company DeepMind. CEO and Co-founder Humayun Sheikh was one of the first investors of DeepMind where he actively played a role in the commercialisation of AI technologies. CTO and Co-founder Toby Simpson, with more than 30 years of experience as a software developer looked into biological learning systems and agent interactions at DeepMind. Thomas Hain, Chief Scientific Officer and Professor at Sheffield University specializes in machine learning and AI.

FETCH is also backed by Outlier Ventures who have previously invested in very successful projects like IOTA, Sovrin and Ocean Protocol. FETCH is already a part of the MOBI (Mobility Open Blockchain Initiative) group which has companies like BMW, Ford, General Motors, Renault and IBM as its members. With such strong team and partners as well as soon-to-be released public test net, we are excited to follow this project and believe FETCH is truly going to bring key innovations into the space of AI and machine learning.

FETCH Introduction Video

https://www.youtube.com/watch?v=34mx-t-t-kY

Website: https://fetch.ai/

Telegram: https://t.me/fetch_ai

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