Bitcoin Press Release: Sydney, Australia. With a world’s first technological and economic infrastructure to power the growth of the open global knowledge economy, Hut34 Project builds a world’s first open, platform agnostic network allowing ‘Chatbots’, IoT devices, and other digital services to communicate, share and monetise their data transactions.
Whilst data volumes, Artificial Intelligence (AI), and the Internet of Things (IoT) are growing rapidly, data remains tightly controlled and monetised by large corporates, domain specific A.I. often has deep but narrow wells of knowledge, and general search tools like Google, Alexa or Siri spread a very wide net, but lack the deep focus or context we often need.
“The Hut34 Network will be platform agnostic, which means that developers on all major technology platforms can participate through open and easy access. Connecting their digital service to the network will allow it to access to all the data and information across the entire network of participants, making each connected device “smarter” and more useful,” says Tim McNamara, System Architect of Hut34.
Participation and growth on the Hut34 Network will be fuelled by a blockchain-based cryptocoin called Entropy and the Hut34 Protocol, which will allow network participants to connect, route queries, resolve answers and monetise their data transactions.
“End users of networked devices will rarely interact with the Hut34 Network directly, as digital service providers maintain control of the user facing experience (and their service interacts with the Hut34 Network). Instead, these users will benefit from access to better bots and digital services with diverse data dispersed through an open network unconstrained by technology incumbents. Users talking to one service are in effect talking to all services on the network, removing the need to manage a diverse array of services and apps,” stated McNamara.
One of the fastest growing trends in AI is automated chatbots, mechanised assistants and content platforms that work like a conversation to fulfil the queries of customers, users and peers. By 2020, Gartner Research thinks chatbots will power 85 percent of all customer interactions. Problematically, monetisation of this space remains tightly controlled by large corporates, and elusive for many smaller producers, who struggle to profit from their data, information or expertise.
Facebook Messenger was home to 100,000 chatbots in April 2017. The service has 1.9bn monthly active users. That’s a lot of people accessing content generated by chatbots and other digital services. Imagine if all those chatbot and services could seamlessly trade information, improving user experience whilst profiting for their owners? Hut34 is building the network to achieve this.
“We believe economic incentives are equally as important as technological enablement. A network driven by technological and economic incentives serves all participants better, making everyone smarter and more fairly rewarded. Economic incentives come through market mechanisms assigning value to contributors’ data, information and knowledge.”
Hut34 Website – https://hut34.io/
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Hut34 Whitepaper – https://docsend.com/view/b4h7ygu
Hut34 Medium – https://medium.com/@hut34project
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