Fetch.ai (FET-USD), Ocean Protocol (OCEAN-USD), and SingularityNET (AGIX-USD) have announced their merger into the Artificial Superintelligence Alliance, creating a combined cryptocurrency market cap of $7.6 billion.
This merger is a statement against tech behemoths’ centralized control of AI development. By pooling their resources, the three protocols aspire to create a decentralized network potent enough to compete with and disrupt the status quo maintained by major tech companies. The alliance’s mission is twofold: to hasten the development of AGI (Artificial General Intelligence) and to democratize AI technology, making it more accessible and less susceptible to biases that plague centralized models.
Ben Goertzel, CEO of SingularityNET, articulates the alliance’s vision as one of an open, democratic, and decentralized rollout of AGI and ASI (Artificial Superintelligence). This vision, shared by the three founding projects, aims to realign the AI world’s balance of power away from Big Tech and towards a more decentralized ecosystem.
Token Merger: A New Economic Model
Central to the alliance’s strategy is merging the native tokens of Fetch.ai, Ocean Protocol, and SingularityNET into a single ASI token. This rebranding and consolidation are expected to streamline operations and enhance the alliance’s economic and operational efficiency. With a starting price of $2.82 and a supply of 2.63 billion, the ASI token represents a significant leap toward creating a unified currency for the machine economy.
Bruce Pon, CEO of Ocean Protocol, emphasizes the ASI token’s crucial role in securing the public network and facilitating data access and computation without traditional banking and payment rails. This tokenomic innovation is poised to orchestrate a cohesive incentive system across the alliance.
Despite the merger, each platform will retain its operational independence, fostering enhanced collaboration without losing its unique identities and contributions. The alliance’s governance structure will include a council, ensuring a balanced and effective leadership model to steer the collective towards achieving its ambitious goals.
Community Approval and the Path Forward
The merger is contingent upon the approval of the respective communities of the three protocols. This democratic approach to a major strategic decision reflects the alliance’s commitment to decentralized governance and the principles of collective decision-making.
The Artificial Superintelligence Alliance represents a significant stride towards a future where AI development is driven by collaboration, openness, and decentralization. This initiative not only challenges Big Tech’s prevailing dominance but also lays the groundwork for a more equitable and inclusive AI landscape.
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