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VeChain and SingularityNET team up on AI to fight climate change

VeChain and SingularityNET team up on AI to fight climate change

Artificial intelligence firm SingularityNET and blockchain firm VeChain have become the latest firms to marry blockchain with artificial intelligence — this time, with the aim of cutting down carbon emissions.

Over the last year, the crypto industry has seen an increasing amount of collaboration between blockchain and AI technology.

On Aug. 24, VeChain — a smart contract-compatible blockchain used for supply-chain tracking — announced a strategic collaboration with the decentralized AI services-sharing platform SingularityNET.

In a joint statement, the firms said the partnership will merge VeChain’s enterprise data with SingularityNET’s advanced AI algorithms to enhance automation of manual processes and provide real-time data.

SingularityNET founder and CEO Ben Goertzel told Cointelegraph that blockchain and AI go hand-in-hand and can solve problems where traditional approaches often fail.

“The last few years have taught the world that when the right AI algorithms meet the right data on sufficient processing power, magic can happen,” said Goertzel.

Goertzel explained the partnership could, for example, allow AI to identify new ways to use VeChain’s blockchain data to optimize carbon emission output and minimize pollution.

“Achieving a sustainable and environmentally positive economy is an extremely complex problem involving coordination of a large number of different economic players,” he added.

“It’s a problem at which traditional economic mechanisms have consistently, miserably failed.”

Meanwhile, VeChain Chief Technology Officer Antonio Senatore added: “Blockchain and AI offer game-changing capabilities for industries and enterprises and are opening new avenues of operation.”

Related: Here’s how blockchain and AI combine to redefine data security

In July, Bitcoin Miner Hive Blockchain changed its name and business strategy as part of its foray into the emerging field of AI. Hive Digital Technologies CEO Aydin Kilic told Cointelegraph in August that blockchain and AI are “both pillars of Web3.”

In June, Ethereum layer-2 scaling network Polygon announced its integration of AI technology. The AI interface called Polygon Copilot…

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