Bottos Utilizes the Blockchain to Promote Data Sharing to Drive AI Innovation and Competitiveness
Bottos is poised to boost innovation in the AI ecosystem by creating a new decentralized P2P data sharing network. The Bottos Data Marketplace utilizes blockchain technology to provide a marketplace to connect artificial intelligence companies and data providers.
For Bottos, it’s a simple equation: Blockchain + Data x AI. AI systems continue to become more accessible and affordable; the barrier to growth is acquiring the massive amount of quality data needed for model training. Once a data source is found, the cost can be another barrier; data costs can take up half the budget for an AI or predictive modeling project.
“Our goal for the Bottos Data Marketplace is to create the largest global data sharing network to revolutionize the AI field. That will be the first step in building the infrastructure for AI development with blockchain technology, eventually creating a new decentralized AI ecosystem,” said Xin Song, Co-Founder, Bottos.
The Bottos Data Marketplace is the first DApp on the Bottos public blockchain; open sourcing will allow developers around the world to build any kind of AI-related DApp on Bottos public blockchain, including model marketplaces, data storage sharing networks and computer power-sharing networks.
Bottos is currently recruiting companies to join its community as it enters the final testing phase of the Bottos Data Marketplace. Bottos 3.0 is expected to be fully operational by the end of May.
Bottos expects that its open marketplace will reduce the cost of data, perhaps by 50 percent in some cases.
Not only will data be more accessible on the Bottos Data Marketplace, it will also be more secure. The blockchain provides immutability, as well as traceability through the registration of original or transformed data to ensure quality and proper use.
“The blockchain makes data acquisition more transparent and the Bottos Data Marketplace allows parties to verify ownership of data, as well as the ability to trace and remove any data sources that are unreliable,” said Song.
Bottos public blockchain will utilize a rating system for both AI companies and data providers, creating another level of transparency in the marketplace. Transactions will involve smart contracts using BTO tokens, which can also be used for third-party services like data verification or cleaning. AI companies can also issue their own tokens on the Bottos platform to fund their projects or sell their finished model.
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