Cardano Summit 2023: A Chat With SingulariyNET, Staking Announcement

In the financial center of Dubai, the Cardano Summit 2023 will gather some of the most prominent projects in the crypto space. During the three-day event, speakers, founders, and the community will voice views on the growing sector and the future of the network and blockchain technology as Cardano enters a critical stage in its development.

Our team had the opportunity to speak with the team behind SingularityNET, one of the first projects that has worked on integrating blockchain, machine learning, and Artificial Intelligence (AI) products. The community has been asking for staking features and finally got a response.

SingularityNET Launches Staking For AGIX Tokens During Cardano Summit 2023

During the event, SingularityNET revealed the implementation of staking capabilities for users holding their native token, AGIX. In this way, users can generate a yield from holding the token and contribute to the adoption of Cardano and SingularityNET.

The staking capabilities will roll out for everyone later this month. As mentioned, SingularityNET has been working on the intersection between the nascent industry and AI long before these technologies became a global trend. Now, their partnership with IOG and Cardano makes them a perfect candidate to benefit from the adoption of both as major companies pour capital and effort into integrating with AI and blockchain-based projects.

Our team sat down with Janet Adams, COO of SingularityNET, and Mihaela Ulieru on the future of blockchain and AI, the role of the community, and their partnership with Cardano. This is what they told us.

Q: Could you tell us about your experience during the Cardano Summit 2023? What does it mean for the SingularityNET ecosystem and its partnership with Cardano?

Adams: Feel like Home. When I come to a Cardano Summit, our partnership with Carano is very deep. It’s very strong. I have so many friends here today wandering around all of the different booths, meeting all the different thriving businesses, that are building on Cardano meeting so many friends of Singularity Net. We’re here with Dessa (Desdemona) Robot.

Dessa is really popular. She’s our pop star, our rockstar robot using a humanoid robot, of course, built by Hanson Robotics. It’s been very positive. I’m having a number of really positive discussions with all of the Cardano community. But what’s really important for us this year at SingularityNET is that our AGIX ADA staking solution on Carano is ready to launch in the next one to two weeks.

And that’s something that I always get asked for by the Cardano community, “when staking.” And so now it’s finally here, I’m here this week and this weekend I’m telling everybody “We now have staking.” They’re all super excited by it. And then that opens the door to us, porting the full SingularityNET marketplace onto Carano as our next major technical action.

Q: SingularityNET was a project being developed on Ethereum and eventually migrated to Cardano; what has been the result of this migration? Are your ties with Cardano and its community growing stronger?

Adams: So our visionary founder, Dr. Ben Goertzel, has a strong relationship with Charles Hoskinson. And there are two to three core reasons why Cardano is such a leading blockchain partner for us at SingularityNET.

One is that we share a common vision and goal for positive impact on humanity. Cardano was established to bring digital identity to populations who don’t have these kinds of solutions. And the shared passion that I feel when I meet the Cardano community is for positive impact. So that’s number one within the whole crypto community. And I meet many, many communities around the world. The Cardano community is the most heart-led, the most purpose-driven, the community that really cares about dramatically improving life on the planet for the people who need it most and reducing inequalities. We have shared interests in Africa, where we both have offices as well.

So one is the purity of purpose, the second is the mathematical foundation of the Cardano blockchain. It’s clearly in the long run, it’s clearly the most mathematically robust blockchain that has been developed. And because our artificial intelligence is also clearly mathematically driven as a mathematically driven solution, it’s really important that our AI runs on really solid, really secure, really scalable blockchain infrastructure.

And then the third reason is we wanted to take advantage of the much better gas fees on Cardano, but the community, the strength of the community, is the most passionate community in the world. We’re the most passionate company in the world, and our community is also super passionate. And so you bring those two passions together with a blockchain that is more robust, more scalable, more solid, more mathematically proven than any other blockchain. It’s clear that this is a very strong opportunity for us to work together, SingularityNET and Cardano are building the most important technologies of all time to reduce inequalities.

Q: Could you tell us about SingularityNET’s latest projects and how Artificial Intelligence (AI) connects with blockchain technology? Moreover, why build on Cardano rather than in a different network?

Ulieru: Some of our most outstanding projects are building the future of Artificial General Intelligence, such as Zarqa – a large language model that performs much better than ChatGPT due to our approach, which is building with a layer of symbolic reasoning on top of the normal neural networks methods implied in ChatGPT. Another dearest to my heart is the Cogito Protocol, which has a first application Green Coin – a stablecoin pegged to Sustainability Index and which will grow as we make strides to address the climate and sustainability conundrum.

So it offers a holistic perspective on incentivizing action that improves the state of the world at scale. Rejuve is a health impact project that enables people to improve their health (an App is guiding them on healthy lifestyle tricks) including a genetic product that improves longevity. And at last, Sophiaverse – a game in the metaverse enabling AGI to train by interacting with people via a game structure. There are many more and all building on Cardano as our preferred blockchain since it had the best technological stack.

Q: How do you envision the future of AI running on the blockchain? And what do you expect Cardano and SingularityNET to achieve in the coming years?

Ulieru: AI is all about processing large amounts of data, and the greatest conundrum is that it infringes on the privacy rights of individuals. With Blockchain this is hard to solve as well, given the transparency inherent in the design. Cardano came up with an innovation, which was today presented by Charles Hoskinson here at the Summit, the Midnight blockchain, with its “dust” token, which can enable the processing of encrypted data. There is also a development on the scaling of Cardano – since SingularityNET is expanding Hydra, the side chain of Cardano, with a novel implementation of a “ledgerless” blockchain named Hypercycle (see hypercycle.ai), which is enabling the processing of encrypted data and as such preserves the privacy. Hypercycle was chosen by SingularityNET to be “the Internet of AI” since their innovative implementation also comes with a “router” for the Internet of AI which everyone can install instead of their normal router and thus bring the AI algorithms to their data, which they can keep private and secure on their own personal router.

We at SingularityNET chose Cardano because it is by far the most innovative blockchains in terms of technology out there. The Keynote of Charles Hoskinson today proved exactly this, including the flexibility of Cardano to accommodate interoperability with all other blockchains, which we at SingularityNET praise a lot, since we are blockchain agnostic and want to enable everyone to use us. And yesterday we also announced that we began staking AGIX on the Cardano blockchain.

Cover image from Unsplash, chart from Tradingview