- ORBIS AI receives a $10,000 grant from Solana, CoinDCX.
- The decentralized platform for those working on AI models.
- Solana’s ecosystem is seeing rapid growth.
Blockchain sectors and artificial intelligence are increasingly converging. The two technologies are taking advantage of each other’s unique features. AI benefits from blockchain’s decentralization and transparency, while blockchain gets new use cases thanks to AI’s capabilities.
Most recently, one company at the intersection of these technologies received crucial early support from the Solana Foundation. ORBIS AI aims to create a platform that empowers workers who make AI development possible.
ORBIS AI Secures Funding for Decentralized AI Platform
Solana is increasingly competing to take a share of the AI industry. On Wednesday, November 13, ORBIS AI announced it received a grant from the Solana Foundation and CoinDCX for a new AI-focused platform. The platform would create a decentralized marketplace for workers in the AI industry.
According to the firm’s founders, the platform would enable users worldwide to earn as much as $25 per hour while working on AI-related tasks. These include “ image labeling, prompt tuning or coding tasks,”
The main advantage of this platform is its decentralization. Workers can retain full control over their earnings by eliminating intermediaries in the AI gig economy. At the same time, the platform will leverage Solana’s low fees and high speed to offer strong performance.
How Decentralized Platforms Benefit Users
Web platforms have become a key component of the economy. Platforms such as Amazon, Uber, Airbnb, Upwork, and others are taking increasing shares out of diverse industries, from retail to transportation.
Still, all these platforms are centralized, enabling their owners to take advantage of their users. Platforms such as Amazon, Uber, and others have been accused of rent-seeking, profiting from their dominant position without adding real value.
For that reason, decentralized alternatives are emerging. For instance, Arcade City is a blockchain-based platform for ride-sharing, competing with platforms such as Uber. Developers have also built a decentralized Airbnb, which does not take a cut from the users’ earnings.
On the Flipside
- Decentralized platforms have a difficult time competing with their centralized counterparts. For one, centralized platforms benefit from network effects from their existing user base.
- Funding marketing through a decentralized model is challenging. However, this is necessary for the platforms to gain traction.
Why This Matters
ORBIS AI showcases the growing intersection of blockchain technology and artificial intelligence. These two industries have unique features that complement each other.
Read more about Solana’s performance:
Solana to Outperform Bitcoin, Ethereum, Industry Survey Finds
Read more about Tether’s entry into the tokenization market:
Tether’s Hadron Takes On the $6.6B Tokenization Market
