[ ANN ] AI and the Blockchain: help with an ICO proof-of-concept for new startup

in cryptocurrency •  last year

Hi, fans of Ethereum, blockchain, cryptocurrency and other buzzwords!

I’m entering the ICO Startup Contest created by the creator of Waves, Sasha Ivanov, on ICOHub #ico #icohub (if you are newbee, to learn more about ICOs, visit https://www.cryptocompare.com/coins/guides/how-does-an-ico-work/).

I am purposefully not mentioning our site in this post. Instead, I want to see whether this description is enough to generate enough interest in the project by itself; it is not yet the actual announcement. If you don’t understand this description or spot holes in the logic, please reply to this post; although I work with AI, I’m not a professional blockchain developer.


Our idea is a Universal engine that do Natural Language Processing and parses, sorts text based on complex classifications.

We’ve already developed an internal alpha engine that constructs linguistics models; it allows any user to filter out spam, check for different text styles, look for fakes using linguistic attributes and more by simply clicking a mouse to create models (some of these already work, some require further development).

We will give everyone access to our API, allow everyone to train the neural network further and to create custom applications to integrate our product with your apps and services.


We want to apply our project in three areas:

1)Provide analytics for businesses and government agencies. This includes business analysis (such as problems with products), searching the Internet for terrorist statements, etc. This portion of the project works without using the blockchain.

Sample use cases:
a)Datamine social networking posts about cryptocurrency and create a dashboard advisor that helps with crypto trading. The advisor will notify the user when a cryptocurrency might be in danger of falling in price depending on the news.
b)Analyze forum posts to detect bad actors, including credit card fraud, bank fraud, phone scams and other kinds of fraud, each with its own heuristics.The system will find these posts by itself, without the need for any humans to read the text.

2)We would like to create a decentralized version of this project on the blockchain. This version could be used by any startup, including those applying to ICOhub. For example, a voice analysis module could analyze spoken words, a module targeted at banks could scan transactions for fraud, a module aimed at dataminers and shopping search engines could verify proofs, fact check, detect fraud and so on. There are many potential applications.

3)The project will also be helpful to blockchain applications themselves. Smart contracts can verify whether an external condition has been met, including actions taken by people and companies in the real world (meetings, agreements, weather changes, arguments, deadlines, etc.) in order to self execute. This procedure forms the foundation of self-executing contracts. We propose using sidechains for this set of tasks.

Sidechains are new blockchains that are based on a main chain (for example, Bitcoin). Sidechains allow new financial ecosystems to form through integrating them into Bitcoin, which distinguishes them from cryptocurrencies that ignore already existing chains. Using sidechains allows us to easily create smart financial contracts, futures, derivatives and much more. The main Bitcoin chain can be used to create any number of sidechains for different tasks and containing different properties, whose assets will depend on the volatility of the main chain. Sidechains thus help further scope expansion and innovations within blockchain technology. They allow traditional blockchains to support diferent types of assets, micropayments, smart contracts, safe transactions, real estate registrations etc., along with making blockchain transactions more private.

Smart-contracts that use AI will genuinely become smart.


Our project automates the execution of smart contracts based on a given set of events and lowers the risk of requiring arbitration between counterparties. It also solves many problems faced by businesses; our AI acts as a designer that allows developers to create their own solutions for a specific business, similar to the Unity engine for game development or Wix for web design.

I would say our AI is the brains of the blockchain.

We can also integrate with blockchain-based social networks (including Steemit and Golos.io https://golos.io): our system can interact with their blockchains and extract data in order to train its own artificial neural net.

In addition, we will also create a marketplace of business solutions based on linguistics, which may be crossed with each other to come up with new ideas.

Let’s discuss. This text is brief and preliminary; we are preparing a detailed whitepaper, have scientific articles and Python code, and a small team is already working on this. I will answer any questions you may have.

Upcoming Decisions:

Launch on Ethereum or Waves? No decision has been made; we will weigh the benefits of each.
The engine will be open to all and the API will be available for a standard fee. But we still have an open question on whether the platform code should be directly connected with the blockchain. This is particularly important because it will form the lion’s share of contributions to the company’s capitalization.

Who owns the individual models in this scheme? Is it the users who created them or is the company renting them out? If the answer is that they are rented, how do we protect against the theft of our intellectual property? Normal business EULAs contain the clause that everything created on a platform belongs to the company and only the company may profit from it (i.e. World of Warcraft players may create mods, but Blizzard reserves the sole right to profit from the mods.)

All ICOhub projects are here (contest ended 30th, june): https://docs.google.com/spreadsheets/d/1tF4geg1ihc3Of6lK3-dovyHK0uOIkAKR6Ecj7cwip7c/edit#gid=0

-- Yours, data-scientist, Python developer from Rostov-on-Don, Russia.

If you like an idea, here is our official Telegram chat with updates https://t.me/GraphGrailAi
Or subscribe here https://steemit.com/@gromozeka
More updates soon.

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I would expect a post like this to do well... it's well, written and a bit over my head since all of this is still new to me. However, let me offer my .002 on what might help.

post something in #introduceyourself explaining a bit who you are, even if you choose to be anonymous, introduction posts get the most attention for a new user and give you a chance to be seen by the community and get a few followers. you could even cross-link to this post in that intro.

also, I think it's foolish to leave out the word steemit in your article, since obviously everyone here is into steemit and that's why we're here. it's like using someones name, people love to hear it. the part where you say "and other buzzwords" almost feels like a jab...

it'd be nice to see you dig in to the community a bit and make some connections, cause throwing out a fundraiser before you've invested yourself into the community is a steep hill (IMO)

good luck, I will follow you to see your progress.


Yeah, i will post #introduceyourself soon, started with this because english is not my native, translated for me

Looking forward to it!

Nice work. Keep the blockchain expanding.

This is certainly an interesting concept.

The problem is I don't know enough about the subject to render an opinion on whether it is feasible or not.

Further we don't know anything about who you are - so some further information might help your cause.

If I am uncertain of a subject myself I would be willing to invest in those who are more knowledgeable than me but that requires:

  1. Some information of who I'm investing in and their qualifications - to a degree where I know they are not just someone pretending to be knowledgeable.

  2. Some existing projects or work that they have done or alternatively some preliminary work that is proof of concept and illustrates their abilities. In view of this it would be useful to have some sort of demonstration of your alpha.

  3. Some detailed explanation of how the project will work in a manner that can be understood by someone who is not an expert in the field - this not only helps to explain the project but also shows that the person behind it at least knows what they are talking about and can pass the information on to others.

Sounds interesting. Good luck with it! Hope you will enjoy cryptocurrency and ico posts in my blog and follow @thoughtchain

Can you explain why your project needs a cryptocurrency coin? Where will the actual AI software run and how? How will your alpha engine run on the blockchain? Are you looking just to raise money to continue building a closed source AI engine or do you envision the engine itself actually running via blockchain client wallet software or something else?


You are first with right questions)
Can you explain why your project needs a cryptocurrency coin - it will be used for rewards to community that helps in creating NLP models - like Steemit - comments, likes + new interactions, like adding words, ontology.
Where will the actual AI software run and how - we are discussing this now, maybe first time on our test servers, then on cloud like Sonm.
How will your alpha engine run on the blockchain - data will be distributed over blockhain.
Are you looking just to raise money to continue building a closed source AI - in general - no, good question, because we need a balance between intellectual property and open philosophy, if you have advice or some vision how to achieve this - please post. The nutshell here is how to protect data from being stolen

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Interesting technology and best of luck.

A lot of noise has been made in the ETH ICO space with some great possibilities, but also a few shady ones.

What makes what you guys are creating different than all of the commercial software and programs executed by large scale consulting companies, other than being run on a blockchain?

The large tech companies already have their own software and proprietary technology that does all of these things (without blockchain technology). For people who do not understand the benefits of the blockchain, how would this blockchain help companies like Facebook and Twitter combat the issues you mentioned in para 1?

IBM has a hyper ledger blockchain that does not require any coins or mining to gain the benefits of the blockchain technology. Accenture has also developed their own blockchain that has similar capabilities. More mainstream companies in Europe and the U.S. that are already established are creating their own blockchain with no coin required.

My main issue with ICO coins is when the coin offers no value or use to any space to be implemented by society and is just simply to gain a lot of money to get an idea going. At some point ICOs will be harder to come by because of the companies that had great plans but no infrastructure or true roadmap for development. With all the coins we have right now we are looking in the low trillions of market cap which could be reachable since it's a global audience, but seems far away.

Your project sounds fantastic in theory, and I hope in application you guys do well. AI is the future of managing and providing efficiencies on the blockchain.

As far as where to launch, ETH has a proven track record over the last month for this movement.


As far as where to launch, ETH has a proven track record over the last month for this movement.

I would say the complete opposite. ETH Is the absolute worst place to hold an ICO at the moment.


Infrastructure problems yes, but companies making loads of money, no.


That isn't necessarily good long term though.


Agree with you on that!


Thanks for your review.

For people who do not understand the benefits of the blockchain, how would this blockchain help companies like Facebook and Twitter combat the issues you mentioned in para 1?

People doesn't need understand blockchain to use our product, for them it will be usual web interface. For b2b market i assume blockchain can bring trust and possibility make investigations (of any kind) do faster - fake news cannot spread because we know actual blockchain evidence of meeting Putin - Trump (for example) - recorded