Monetize your personality online with the help of Project Pai, the decentralized AI economy
Background
This will surely sound strange for most of the readers, but Project Pai (PAI) came out with a revolutionary idea that will either make a lot of users rich or will go down as pets.com did, but either way, the idea is unique and something worth researching.
To start with the main idea, Pai is a utility coin for the PAI (Personal Artificial Intelligence), which is a 3D intelligent avatar that is designed to look and act like the user deploying it on the network. The user is the single owner of the created AI and will be able to monetize it through the Pai Network thus creating a new AI economy. The project that got listed on Huobi.Pro right after launch has created amazing volumes (15000 BTC) at the time of the writing.
To dig a bit deeper into the project we have to go over both the motivation whitepaper] and the technical whitepaper to understand the vision behind it. There is going to be two main components to the network, one is the AI blockchain protocol, which will include several layers: authentication, network, storage and the AI. The decentralized PAI Network will be built on top of the network and will act as a storage space for the personal AIs. There will be a dual currency network that enables the economy within the project, one currency (PAI Coins) will serve as payment in the PAI Network, while credits will be the gas for decentralized applications.
The project builds on the idea that every internet user leaves a digital footprint and data during browsing and that this data is currently monetized by third parties instead of the user, while also being less accurate. The main use case is to achieve a win-win for both parties of the original data trade economy with the help of decentralized peer-enabled AI identities. Firstly the user will be able to create a better image of themselves with more accurate behaviour, which means that this will be more easily monetized with the consent of the creator itself. Secondly, the companies who usually buy these data will get a better product delivered and without going through the loopholes of third parties that either sell you data where the origin of data can be unclear in the first place.
Use-cases
Since these avatars will have the ability to think and speak there is also an added value to them: only a few of them will be able to provide a better picture of a certain population demographics. Researchers and institutes will be able to communicate with them, meaning that they can work for you while you can do something else.
Another possible use-case would be a digital avatar, which we imagine would be suited for dating sites. There could be a world where you will only meet the people who also have similar interests and a point of view. Instead of them reading 2-3 sentences on your profile, they can just hit your avatar up for a 5-minute discussion before they move forward to speak to you personally.
A possible business use-case could be where you wish to order a huge shipment of electronics via China, but you are neither good at bargaining and you don’t speak Chinese either. You could hire a Chinese AI that has the technical and bargaining knowledge needed for the job and it could go to a Skype meeting while you are already doing the transportation planning activities.
Lastly, we can imagine a use-case where fans would like to talk to their favourite celebrity, but neither have the time nor the money to follow them on tour dates and hope for a few seconds with their idol. Here celebrities would have the opportunity to monetize their digital doubles and fans would get endless meetups over and over as much as they demand. They could ask their most important questions and even get a huge confidence boost.
Possibilities are endless in case the project succeeds, but the most important part for us was that the complete AI economy will be in the hands of the sellers, buyers and miners, so the users itself.
Team
ObEN, a California based artificial intelligence venture, is developing Project Pai and deploying their technology on the blockchain in order to create, use, and manage their own Personal AI. The company that has been founded in 2014 is in the portfolio of several major ventures including K11, Tencent, Softbank Ventures Korea and HTC Vive X.
The project is being built by a huge group of experienced blockchain engineers and developers, including the ObEN group, and is being advised and lead by Alex Waters who also held roles in the Bitcoin Core development project. According
See ObEN’s technology in action here:
Our take on Pai
Our take on the project is that it takes on a very common field of knowledge (our digital footprint) and build up an ecosystem that will be able to monetize it to the profit of the user, while also helping potential buyers to easier acquire better information. The project is solid fundamentally and seems to have a good market maker and solid interest, considering that the PAI listing on Huobi happened not long after the initial release of the tokens.
Considering that Project Pai is a first mover in the field so far we believe that it might be worth an investment as soon as the price discovery happened as the project is pretty fresh right now with its 5 days on CMC.
One thing is for sure though, the project has already launched its main net a few days ago, which is something that a lot of projects fail to deliver so soon during their roadmaps.
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