Bottos Collaborates with Microsoft to Mingle Blockchain with AI
BTC Wires: On 1st August, 2018, Bottos announced that it is collaborating with Microsoft on an event to delve deep into the role of blockchain in stimulating innovation in AI. The event, “AI Industry Renovation and Strategy Partner Conference” will be held on the 6th and will see deliberations on Internet of Things, mixed reality, big data and other developments in the AI field. A pioneering blockchain for AI, Bottos aims at building a fresh ecosystem for AI. Having recently launched DApp, Datanno, a data marketplace, the company is tackling the problem of data acquisition being too costly. Datanno is assembling various data providers, validators, cleaners, requestors, etc on the blockchain to try and introduce open access and cost-effectiveness in the system. Bottos uses the BTO token alongside smart contracts for all its transactions over blockchain.
Microsoft CEO Satya Nadella vouched for their commitment towards AI research by predicting a wide-spread adoption of AI soon. Bottos blockchain is open sourced. Therefore, developers can create any DApp related to AI on it, such as data storage sharing networks or even simulated marketplaces.
Bottos will promote accessibility and security of data, by making sure it can be traced effectively through registration and will also ensure credibility, quality and correct usage. Hashing and storing on blockchain makes data break up into several smaller parts stored separately. This ensures immutability and safety of the records.
AI’s growth is likely to have a great role in shaping the world economy. As PwC data suggests, global GDP could surge by roughly 14% by 2030 as a result, with the impact being pegged at $15.7 trillion. China is expected to benefit the most from this, with an added 26% rise in GDP by 2030. Bottos co-founder Xin Song noted that AI can have a transformative role to play in several sectors including fintech, retail, healthcare and logistics and expressed enthusiasm about the collaboration with Microsoft.
The upcoming event is to be held in Beijing’s Microsoft Mansion and will hopefully yield interesting developments in the field.