Panning for Gold
Decentralized artificial intelligence project DeepBrain Chain plans to create a new cryptocurrency exchange to support established, centralized players, according to a project statement. DeepToken Exchange will target up-and-coming artificial intelligence companies and startups with an eye toward shepherding them through the tokenization and initial coin offering process, in addition to other value-added services.
The exchange’s proposed verification and validation procedure “…sifts through the mud for the gold,” according to DeepBrain Chain’s statement.
In addition to its sorting procedures, DeepToken Exchange will eventually offer a variety of services tailored for AI blockchain projects — including an assist on processing power for ongoing project development. This individualized attention is one of the driving forces behind the DeepToken Exchange’s selective listing process.
DeepToken Exchange plans to operate on a “voting as mining” business model, making it easier to find quality AI projects to push to the top of the project’s queue. These voters will consist of DeepBrain Chain’s expert AI community, which will be expanded via DeepBrain Chain’s AI Training Net.
DeepToken Exchange and AI
The project leaders liken the current state of the cryptocurrency market to the American Gold Rush, where the biggest winners were not actually miners, but those who provided necessary mining tools.
“Experienced traders and investors know that the future and potential of digital currency lies with blockchain projects focusing on real-world use cases and applicability,” DeepBrain Chain said in its statement. “However, the market still needs to devise a mechanism of protection against projects that offer a lot and deliver very little. An exchange with a meticulous and considered approach to listing is the answer.”
DeepBrain Chain’s sorting protocols are already active, according to the project leaders. The picked AI projects (“only the best and brightest”) will be the first listed when DeepToken Exchange goes live.
“DeepToken will be a financing platform for AI companies, a trading platform for AI digital assets, as well as offering support for their product landing; the exchange will stimulate discussions and investments in the AI industry through community assessment and monitoring of AI projects,” said founder Feng He in the statement. “Eventually, DeepToken will help create a new global AI token economy.”
Both the DeepToken Exchange and DeepBrain Chain run on the proprietary DeepToken, listed on exchanges as DPT. More information about the entire project can be found in the white paper.
Update: A previous version of this article included an image for another DeepToken not included in this article.