- ORBIS AI receives $10,000 grant from Solana, CoinDCX.
- A decentralized platform for working with AI models.
- The Solana ecosystem is experiencing rapid growth.
The blockchain field and artificial intelligence (AI) are increasingly converging. Both technologies leverage each other’s unique capabilities. AI benefits from blockchain’s decentralization and transparency, and blockchain gains new use cases thanks to AI’s capabilities.
Most recently, a company at the intersection of these technologies received significant initial support from the Solana Foundation. ORBIS AI aims to create a platform that empowers workers to enable AI development.
ORBIS AI secures funding for decentralized AI platform
Solana is increasingly competing for a share of the AI industry. On Wednesday, November 13th, ORBIS AI announced that it had received a grant from the Solana Foundation and CoinDCX for a new AI-focused platform. This platform will create a decentralized marketplace for AI industry players.
According to the company’s founders, the platform allows users around the world to earn up to $25 per hour while performing AI-related tasks. This includes “image labeling, quick adjustments, or coding tasks.”
The biggest advantage of this platform is decentralization. Workers can maintain complete control over their earnings by cutting out middlemen in the AI gig economy. At the same time, the platform will leverage Solana’s low fees and fast speeds to deliver strong performance.
How decentralized platforms benefit users
Web platforms have become a key component of the economy. Platforms like Amazon, Uber, Airbnb, Upwork, etc. are taking over a growing share of industries ranging from retail to transportation.
Nonetheless, all these platforms are centralized, allowing their owners to leverage their users. Platforms like Amazon, Uber, etc. have been accused of rent-seeking, exploiting their dominant position to seek profits without adding any real value.
For this reason, decentralized alternatives are emerging. For example, Arcade City is a blockchain-based ridesharing platform that competes with platforms like Uber. Developers have also built a decentralized Airbnb that doesn’t take a cut of users’ earnings.
On the flip side
- Decentralized platforms are having a hard time competing with centralized platforms. First of all, centralized platforms benefit from the network effects of their existing user base.
- Marketing fundraising through a decentralized model is difficult. But this is necessary for the platform to gain traction.
Why This Matters
ORBIS AI represents the growing intersection of blockchain technology and artificial intelligence. These two industries have unique characteristics that complement each other.
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