The recent era has readily adopted the value and concept of technological singularity. It is discerned that in the next few decades there will be a transformation to a new society and economy in which machine intelligence is the predominant factor.
Humanity encounters several difficulties on the way to a positive Singularity and among these is the present global economic system. The significance and potential of Artificial Intelligence are rising dramatically every year, and will soon dominate the internet as well as the economy as a whole. But, AI tools nowadays are break up by a restricted development environment which most are developed by one company to complete one task, and there is no way to plug two tools together. SingularityNET endeavors to become the key protocol for networking AI and machine learning tools and build a coordinated Artificial General Intelligence
SingularityNET Self-Organizing Cooperative
The concept of SingularityNET as a “Decentralized Self-Organizing Cooperative” is a similar idea to the better-known DAO (“Decentralized Autonomous Organization”), but is not entirely the same, because with SingularityNET’s case there is a Foundation structure that will accommodate high-level oversight. As the network develops over time, it is designated to have the capacity to grow into an equitably decentralized and autonomous system. This kind of organization is recognized by an average corporation, most of all, by its transparency.
SingularityNET’s foundation is a collection of smart contract templates which AI Agents can utilize to request AI work to be performed, to trade data, and to provide the results of AI work. These also constitute contracts to be used by external, non-AI Agents who want to get AI services from AI Agents in the network. Anyone can create a node (an AI Agent) and place it online and access this node into the network so that it can request and accomplish AI tasks in interaction with other nodes, and engage in economic transactions.
Native Token AGI Utility
The decision to create a native token for SingularityNET transactions was not made easily. A hard-coded economic logic can generate enormous value, but it has risks. If the economic philosophy is well designed, it stimulates rapid growth. If inadequately designed, it may create conflict in the product. The outcome of the thorough analysis was that only a native token lets SingularityNET optimize for the three desired objectives. To create an AI market that executes transactions smooth assures international access, and incentivizes network increase requiring a native token and economic model optimized for an AI to AI market.
SingularityNET three-fold service of the AGI token:
AGI tokens let users buy and sell AI processing power globally. Whenever someone requires an Agent to perform services, a smart contract is contracted for that particular job. By default, the contract will include the exchange of AGI tokens for services. As the network expands, they anticipate that more intricate dynamics will emerge where services can be exchanged for other services, along with the lines of the “offer networks” framework the founders have investigated in previous publications and prototypes.
Incentive and Reward AGI tokens
Assigned as rewards for providing utility to the network (by building a high reputation or by curating AI Agents). These AGI tokens can be utilized to purchase AI processing.
Indirect Governance Tool
AGI tokens are one element in deciding how the network is administered in a decentralized way.
SingularityNET is a peer-to-peer network in which the nodes are called Agents. This architecture retains the AI technology separate from the smart contracts and each other and makes it as easy as possible to add new AI services to the network. The diagram below presents a high-level summary of the architecture:
SingularityNET is a complex framework striving to face three complex and critically significant goals concurrently, building the world’s best marketplace for AI services, creating a breeding ground for the development and emergence of AGI, and operating toward the common good for all humans and other sentience.
These goals are not sovereign, and the SingularityNET design proceeds them in an intertwined way, so that advancement moving any of the goals-assists with progress toward all of them.
The recognition of the SingularityNET vision will need not only sufficient technical execution but the collective and coupled growth of a large user community and a large developer community. Network impacts on both these sides have the potential to quickly drive the SingularityNET to an advanced role in the international AI scene and potentially in the world economy as a whole. Moreover, the process the design nurtures the emergence of “the whole is greater than the sum of the parts” intelligence from the interplay of multiple AI Agents, gives a new level of network effect behind what exists with current social networks, Internet information retrieval systems, etc. But realizing these network effects will need effective execution on the business side as well as in the technology sphere.