Bottos Utilizes the Blockchain to Create a New Decentralized AI Ecosystem
SAN FRANCISCO, April 20, 2018 -- Bottos is utilizing the blockchain to create a new marketplace to connect artificial intelligence companies and data providers. This P2P data sharing network is designed to drive innovation in artificial intelligence, ultimately creating a new decentralized AI ecosystem.
Bottos’ early investor list includes the DraperDragon Innovation Fund, a prominent international blockchain fund.
Bottos is currently recruiting companies to join its community, as it enters the final testing phase of the Bottos Data Marketplace. Bottos 3.0 is expected to be fully operational by the end of May.
For Bottos, it's a simple equation: Blockchain + Data x AI. AI systems continue to become more accessible and affordable; the barrier to growth is acquiring the massive amount of quality data needed for model training. Once a data source is found, the cost can be another barrier; data costs can take up half the budget for an AI or predictive modelling project.
Bottos was founded by Tingting Wang and Xin Song. Wang was the chief marketing officer at NEO, China’s cryptocurrency (often referred to as China’s Ethereum), while Song has more than a decade of experience in high-tech investment, including the Droege Group China.
“Our goal for the Bottos Data Marketplace is to create the largest global data sharing network to revolutionize the AI field,” said Song. “That will be the first step in building the infrastructure for AI development with blockchain technology, eventually creating a new decentralized AI ecosystem.”
The Bottos Data Marketplace is the first DApp on the Bottos public blockchain; open sourcing will allow developers around the world to build any kind of AI-related DApp on Bottos public blockchain, including model marketplaces, data storage sharing networks and computer power sharing networks.
Bottos transactions will involve smart contracts using BTO tokens, which can also be used for third-party services like data verification or cleaning. AI companies can also issue their own tokens in the Bottos Data Marketplace to fund their projects, or sell their finished model.
Bottos expects that its open marketplace will reduce the cost of data, perhaps by 50 percent in some cases.
Not only will data be more accessible via Bottos, it will also be more secure. The blockchain provides immutability, as well as traceability through the registration of original or transformed data to ensure quality and proper use.
“The blockchain makes data acquisition more transparent and allows parties to verify ownership of data, as well as the ability to trace and remove any data sources that are unreliable,” said Song.
Bottos will utilize a rating system for both AI companies and data providers, creating another level of transparency in the marketplace.
Bottos expects to attract significant interest from AI projects that require massive amounts of data, including speech recognition, semantic identification, computer vision and robots, as well as applications for IoT.
For more information on Bottos, please visit www.bottos.org or join the Bottos Telegram group. Follow Bottos on Twitter at @bottos_ai.
About Bottos
Bottos is building the infrastructure for AI development through blockchain technology in order to create a new decentralized AI ecosystem. The Bottos Data Marketplace provides a way to connect artificial intelligence companies and data providers. It is also a consensus-based, one-stop platform to implement the registration, distribution and transformation of data among different participants within the broad-based artificial intelligence ecosystem. Bottos is out to build the world’s most efficient data sharing network to enhance AI innovation and competitiveness. Bottos utilizes BTO tokens and smart contracts for its blockchain-based transactions.
Source: Bottos
