Artificial Intelligence, Smart Contracts and GraphGrail Ai
Artificial intelligence has long ceased to be a figment of imagination and has firmly established itself as a necessary and efficient business solution that various industries can benefit from. However, the current AI market is dominated by a handful of mega-corporations that do not see any economic benefit to themselves or existing technologies in improving their AI products. The competition, consisting largely of small startups, has long been incapable of taking on the giants of the AI industry head on without a sufficiently powerful external impetus.
The greatest issue of the market lies in the unavailability of ready and marked datasets that can be used to train AI and neural networks. With the majority of dataset resources tightly controlled or restricted by exuberant fees, the development of effective AI solutions becomes either an unprofitable and laborious task, or simply impossible.
The necessary impetus for the sudden surge in opportunities for the AI market appeared only recently with the advent of blockchain technologies. GraphGrail Ai is the first and only startup on the world market that offers a credible and viable solution to diversifying the AI market by attracting developers from around the world to develop an endless array of versatile constructs suited to fit any business task on the basis of customizable smart contracts. The GraphGrail Ai platform is a meta-service designed to dramatically accelerate the creation of new companies and startups in data analysis and blockchain.
Blockchain technologies are the key to granting immense resources and capabilities to a platform that aims to develop AI by offering the vital element of trust that would bind platform participants. The trust element is ensured by the application of smart contracts that guarantee the fulfillment of any condition encrypted into their constituent algorithms.
However, the smart contract architecture often cannot foresee or understand the presence of some conditions that apply in the real world. Such conditions can be anything that cannot be programmed into the algorithm due to its unforeseen nature. These events can include force majeure circumstances, acts of God, deaths of parties involved, war, natural disasters or even weather patterns. A human being is needed to analyze the conditions and manually introduce them into the smart contract to make sure the transaction they govern takes place. The GraphGrail Ai project bypasses the need for having such a programming specialist and allows developers to tailor their smart contracts automatically. This was impossible in the past without the merger of blockchain, neural networks and artificial intelligence.
The service that GraphGrail Ai provides will be useful inside the ecosystem of blockchain networks for checking whether the external conditions have been met on smart contracts. With the help of Oracle for smart contracts, GraphGrail Ai automates the verification of the terms of smart contracts and reduces the risks of arbitration between counterparties.
Ensuring security when concluding contracts is of great relevance in the modern world. Conditions of force majeure, which occur in exceptional cases, can be prescribed in smart contracts. It is necessary to automatically check these conditions on the basis of trusted external sources with analysis of unstructured information. The GraphGrail Ai platform solves the task of providing data to a smart contract by accessing external sources, such as media, social networks, Wikipedia, etc., collecting and analyzing data important to the contract and providing the contractor with a basis for deciding whether to execute it or not. That is, it is a procedure that provides the foundation of matching for transactions. Implementation on Sidechain - a new blockchain system based on the parent Bitcoin chain (for example).
Sidechains implement new financial ecosystems through integration into Bitcoin, which distinguishes them from other cryptocurrencies, which ignore existing networks. Using sidechains, we can easily create all sorts of smart financial contracts, stocks, futures, derivatives and much more. On the basis of Bitcoin, one can create an innumerable set of sidechains with different tasks and features, whose assets will depend on the volatility of the main chain. Based on this, the sidechain contributes to the further expansion of the field of application and innovative space for blockchain technology. This allows traditional blockchains to support several types of assets, small payments, smart contracts, safe transactions, registration of real property rights, etc., and also increase the confidentiality of blockchain transactions.
Acquiring, lending and accounting will also use smart contracts. Based on Steemit and Golos.io, custom solutions will be able to collect and analyze posts about cryptocurrencies and provide a dashboard-adviser with a help function in trading and notifications about the danger of falling cryptocurrency exchange rates depending on the tonality of the news gathered.
These solutions and applications in the real world grant the GraphGrail Ai platform the opportunity to deliver a diverse and convenient set of tools that developers can use to monetize on their solutions and earn on the platform by taking on tasks and selling their constructs to businesses.
Someone will use a GraphGrail Ai solution to find business proposals, someone will track news, another will monitor the relevant experience of participants, or build an intelligent chat-bot, and so on. GraphGrail Ai is the sandbox for smart contracts.