Companies using Blockchain and Artificial Intelligence

Blockchain and cryptocurrencies are gaining ground in the technological world, and so is artificial intelligence. The use of AI is becoming more and more prevalent across the tech ecosystem.

Companies are looking more and more into incorporating AI into their products and services in order to stay competitive.

Various startups are not working to democratize access to datasets and algorithms needed to train AI models. in order to develop AI applications, companies need access to massive datasets which was also how Facebook’s facial recognition algorithm auto-tags new photos, or how Google uses deep learning to tweak its ranking algorithm.

In order to make these predictive models enormous datasets are required which is why tech giants like Facebook, Amazon, Microsoft, and Apple (FAMGA) and China’s Baidu, Alibaba, and Tencent (BAT) are leaders in the field of AI.

By using CB Insights data, here are examples of 7 companies which are now exploring this new frontier at the intersection of the blockchain, AI, and data marketplaces.

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Enigma

Enigma is an operational data management and intelligence company who place data into the context of the real world and make it connected. They have funding of $25 million in venture capitals while $45 million in token sale.

The investors in question are Plug and Play Accelerator, Pantera Capital. They are building a data marketplace that allows computation to be done securely off-chain. As of now, sharing data between parties is often a risky and irreversible process where someone who buys data on a marketplace could distribute it, creating a free-rider problem.

Recently released, Enigma’s new data marketplace Catalyst allows companies and organizations to contribute data which users can subscribe to and consume via smart contracts.

Datum

Datum, which a global data marketplace, allows users to make money from their own data as a company and has funding of $7.2 million in token sale.

The company now boasts of 90,000+ people using its app to monetize their consumer data with pre-screened partners. the company is now making new forays into the worlds of artificial intelligence.

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NuCypher

NuCypher, which receives from the investment from Y Combinator, Base Ventures, Fusion Fund, Compound, Polychain Capital, Novogratz Family Office and has funding of $5M in venture capitals and quite similar to privacy layers like Enigma, NuCypher which provides proxy re-encryption for distributed data networks, bringing private data to public blockchains and facilitating secure data sharing between enterprises.

Numerai

Numerai crowdsources machine learning problems to a global community of data scientists and then combines the results into an AI meta-model to trade as a long/short equity hedge fund. They have been incentivizing and rewarding in its native Numeraire token, which allows the data scientists to figure out how effective they believe their model is and shares the earnings measured against the staked amount.

Their investors are First Round Capital, Union Square Ventures, NKM Capital and have funding of $7.5M in venture capitals.

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Ocean Protocol

Ocean Protocol has a $10.4 million in token sales provides an ecosystem for sharing and monetizing data. It provides a tokenized service layer that assists in unlocking data sharing, particularly for AI. It is designed for scale and uses blockchain technology that allows data to be shared and sold in a safe, secure and transparent manner.

Computable Labs

Computable Labs which have investors like Lux Capital, Compound, Pantera, Blockchain Capital is building new Internet infrastructure to democratize access to data and algorithms for artificial intelligence. The company has plans to provide a token curated registry (TCR) that serves as a hub for the buying and selling of data.

There are many companies coming up in 2019, who are now getting into blockchain and artificial intelligence and it is more and more overwhelming to see more and more companies coming up.

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Rishma Banerjee

Rishma is currently pursuing a bachelor’s degree in International Relations and has a special place in her life for sifting through all sorts of random trivia, thank you very much.