TraneAi To Launch ICO for $50M in Tokens to Seed the First Open-Source AI-Development Ecosystem Built on Blockchain

Pre-sale is in process and crowdsale launches Sept. 18

628
ADVERTISEMENTSSpectre Token SaleParagon ICO Atlant ICO Ties

Share with:


TraneAi, an emerging player in the rapidly expanding artificial-intelligence market, today announced that it will offer the sale of $50 million in tokens to seed the first decentralized, open-source AI-development ecosystem built on Blockchain technology.

TraneAi will use funds raised to build out an ecosystem that allows participants around the globe to collaborate to develop AI-powered solutions such as chatbots, virtual assistants, news generators and other intelligent systems. The initial focus will be to decentralize the AI-training process for more rapid innovation. The ecosystem will run on the Transaction Protocol for Artificial Intelligence, or TPAI, which governs how participants interact with each other and is open source so anyone can participate.

TraneAi will hold a crowdsale of TPAI tokens on September 18, 2017 for a period of three weeks. A presale is in process during which TPAI tokens can be purchased with a bonus until the crowdsale begins. The TPAI tokens are built on the Ethereum Blockchain.

“We believe that by building our solution for crowdsourced AI training data on the Blockchain, we can realize the full potential of AI by making training faster, less-expensive and more accurate,’’ said Tomer Dicturel, TraneAi’s co-founder.

TraneAi’s training platform works by allowing companies planning to create AI-powered products to supply their data to TraneAi, which in turn disseminates that data to the crowd for tagging. An AI agent will audit the data and only award TPAI tokens for high-quality, useful labeled data. Companies then can use that data to create new products and services.

People who tag data are called Crowd-miners and they are a crucial component to the success of the ecosystem. They earn TPAI tokens by responding to a series of binary, Yes/No questions which improves the quality of labeled datasets used in AI products. Sending thousands of versions of a question to thousands of crowd-miners creates more accurately labeled data, which leads to smarter AI products. Other users also can earn tokens by storing those datasets across the Blockchain or processing data models.

TPAI tokens are the means through which participants exchange services on TraneAi’s platform: they offer an incentive for miners to tag, store and model data; miners earn TPAI tokens which can be then used to access highly powerful computers, algorithms or data-tagging services on the Blockchain, or even to build their own chatbot.

“The TraneAi platform demonstrates how TPAI creates a valued-based ecosystem on the Blockchain,” said Mr. Dicturel. “TPAI functions as a layer on top of an innovative AI system that uses machine learning to verify transactions across the network. This sits on top of a proven, decentralized Blockchain-based storage network powered by IPFS storage infrastructure.”

“Like humans, what the AI understands is based on the data it is familiar with. Like humans, the more quality data the system has, the better the system operates,’’ said Ryan Hickman, TraneAi’s co-founder.

Mr. Dicturel said he envisions businesses and crowd-miners coming together to create AI products that could find unexplored applications in consumer products, finance, healthcare and manufacturing. He also sees the platform helping small businesses with more modest goals – like a customer with a video app that streams content but wants to find and eliminate videos showing objectionable images.

TraneAi is a technology firm that has created the first platform of its kind to accelerate the artificial intelligence-training process through a decentralized ecosystem built on the Blockchain. Founded in 2017 with offices in New York City, TraneAi’s platform engages crowds to tag, store and model data, accelerating machine-learning and improving data accuracy. TraneAi is poised to become the new standard for AI training, replacing the costly and time-consuming approach of using experts to train AI.

Learn more at http://www.trane.ai/

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

Visit Website
View All Articles
advertisement