NEM Ventures, the venture capital and investment arm of the NEM blockchain ecosystem, has joined the Decentralized AI Alliance (DAIA), an alliance of more than fifty diverse organizations in the interrelated Artificial Intelligence (AI), Internet of Things (IoT) and blockchain ecosystem working together to democratize the use and control of AI. This partnership will see the development of common strategies and increased resource sharing between the member organizations towards the common goal of developing a system of democratized AI.
Toufi Saliba, President of DAIA, Founder of the ACM AiDecentralized and Author of TODA/IP, commented: “With over 60 global members to date, I am ecstatic to see NEM joining the alliance and welcome them. We remain anxious about the future of this planet, with current AI lacking essential security. We urge every reader to learn more about this initiative, as this might be one of the most impactful ways to move towards a safer future rather than remaining idle. We hope NEM Ventures will help us accelerate towards that mission.”
NEM’s upcoming tech release, Symbol, is a fully-featured solution for enterprises supported by a plugin engine that allows effortless interoperability and configuration, enabling enterprises to leverage this technology to improve business processes. The public/private chain combinations with cross chain swaps facilitate IoT and AI data interactions. NEM Ventures is focused on investing and developing high-growth emerging technology projects from an early stage in their business cycle, providing capital support and expertise to grow the next generation of startups that utilise the NEM product suites.
Commenting on the partnership, Dave Hodgson, Director and Co-founder of NEM Ventures, said: “DAIA is an impressive alliance of projects which share NEM Venture’s commitment to a vision of the AI and Blockchain space as an open, fair and decentralized system of technology. DAIA is supported by thought leaders in the space, including CEO and Co-founder of TODA, Toufi Saliba, and CEO and Co-founder of SingularityNET, Ben Goertzel. NEM is proud to develop a shared strategy with such global organizations in the sector to make this vision a reality.”
NEM Ventures’ expertise in blockchain provides DAIA with further strategic capabilities among startups in the space, and helps develop such organizations into active participants within the DAIA community. The Internet of Things (IoT) is one area where the alliance aims to leverage the technical experience of NEM, given its expertise in using NEM Catapult to develop Internet of Distributed Ledger Technology (IoDLT), a blockchain startup that secures and verifies data coming from IoT devices.
Commenting on the partnership, Dr. Ben Goertzel, Chairman and Co-founder of DAIA and CEO and Co-founder of SingularityNET: “We are thrilled to form a partnership with NEM Ventures, one of the preeminent blockchain VCs in the sector, and its vision for a fair and decentralized system of AI aligns closely with our philosophy. I’ve been impressed with the NEM design and community since I originally read the NEM white paper some time ago, so it’s exciting for me to see NEM Ventures bringing their unique conceptual, technical and business savvy into the DAIA community.”