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Ripple - ILP - AI

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as this crypto shitz is new to me I was wondering about the AI aspect and how it ties in (as this aspect will be a game changer also imo), so this has already been discussed, but I happened upon Hodors informative article and thought a refresh of the concept would benefit others like me in crypto kindergarten

 

"Are you – as a crypto trader – realizing your full potential without using artificial intelligence?

As focused as you might be on crypto-currency as the most impressive computing innovation since 2008, you shouldn’t discount the potential of artificial intelligence advances."

 

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IMO AI as of now is only used as hype term just like blockchain is. There is nothing intelligent on our software yet. What we have is machine learning practises and rather poor neural networks aka smart decision trees that can do certain things. Towards crypto you might find https://rialto.ai interesting. Smarter algorithms are definitely going to trade more and more profitable. We have still quite imbalanced markets in the crypto space so this still works to a certain extend. But lets please stop the "intelligence" crap talks unless you have solved the greatest problem mankind has ever struggled with, which is digital consciousness, the key to real intelligence. Nobody knows how this can work. 

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There are a couple of cryptos using AI and smart contracts, i wont post the names for fear of being labelled a shill but one is about ready to launch products and has a strong team. I personally hold one one of the coins. Interestingly on the roadmap for this there was mention of partnering with ripple, but i cannot find that roadmap since they changed to the new website. Will have to look again.

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2 hours ago, LiquidGoat said:

There are a couple of cryptos using AI and smart contracts, i wont post the names for fear of being labelled a shill but one is about ready to launch products and has a strong team. I personally hold one one of the coins. Interestingly on the roadmap for this there was mention of partnering with ripple, but i cannot find that roadmap since they changed to the new website. Will have to look again.

@LiquidGoat don't let people's potential remarks silence your opinions. If you have something to say...say it!!  Whether people like it or not doesn't matter. As long as you can support/justify your views, what's the worst that could happen? At most, they'll bark, hoop-n-holler and blah, blah, blah a little bit and that'll be about it?  As human beings, we believe we have a moral obligation to correct those who do not have or share the same beliefs we consider infallible.  We do this because of our personal and/or religious values, upbringing, and life experiences that have molded every aspect of our individual personalities from birth.  However, I believe, It is these unique set of experiences and circumstances that give rise to our unique perspectives in life all of which are dissimilar threads woven together to comprise the very fabric of our culturally diverse world. Basically, what I'm saying is just spit it out!!

Edited by King34Maine

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thanks @King34Maine 

The Project i was talking about is Agrello (DLT) they are using AI powered smart contracts for various use cases, home rental agreements is the beginning and the product will be out quite soon. Essentially the point is to replace the need to use lawyers to draw up contracts for various things, instead you can manage this on the BC, and pay using the token. 

Here is the Link, to how it works, and also the road map (i found again) which mentions about ripple.

https://www.agrello.org/how-it-works

https://www.agrello.org/token

Anyway, just an example to the OP of a project which plans to integrate AI as one of the main USP of its service.

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1 hour ago, LiquidGoat said:

Essentially the point is to replace the need to use lawyers to draw up contracts for various things, instead you can manage this on the BC, and pay using the token. 

I’m aware of a few of these companies offering smart contract services but they need to overcome the hurdle of creating a contract in code that is actually recognised at law. Agrello solves it by saying “the code isn’t the contract, the contract is the contract” i.e. they’re supplementing the real contract with a code-based translation. However translation comes with its own problems as well as anyone who has tried to translate Japanese to English in google translate will know.

I’ve gone into the legal challenges for smart contracts in the Codius sub if anyone’s interested:

Personally, I think AI will become more prevalent and more quickly than smart “contracts” as it doesn’t face the regulatory hurdles that smart “contracts” have. Many FIs have already started building AI financial advice bots and market trading software that has elements of AI built in (or at least that’s what they’re telling us!)

 

 

Edited by Pablo

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1 hour ago, LiquidGoat said:

thanks @King34Maine 

The Project i was talking about is Agrello (DLT) they are using AI powered smart contracts for various use cases, home rental agreements is the beginning and the product will be out quite soon. Essentially the point is to replace the need to use lawyers to draw up contracts for various things, instead you can manage this on the BC, and pay using the token. 

Here is the Link, to how it works, and also the road map (i found again) which mentions about ripple.

https://www.agrello.org/how-it-works

https://www.agrello.org/token

Anyway, just an example to the OP of a project which plans to integrate AI as one of the main USP of its service.

Can't say that I've heard of Agrello, but with so many blockchain start-ups entering the smart contracts space it's hard to keep up with all of them.

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This is an enormous can of worms. It's going to turn into legal nightmares all over the place.

You do not want contracts to be "smart" and you do not want to be in a situation where you don't have recourse to the courts when the mechanical contracts don't work the way everyone intended.

Replacing lawyers with AI is a really bad idea. Legal contracts are subject to interpretation. This is a good thing more often than it is bad.

Experimenting with this stuff however is a good idea. If people need to think this is the best thing since sliced bread for that to happen, then so be it.

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7 hours ago, LiquidGoat said:

There are a couple of cryptos using AI and smart contracts, i wont post the names for fear of being labelled a shill but one is about ready to launch products and has a strong team. I personally hold one one of the coins. Interestingly on the roadmap for this there was mention of partnering with ripple, but i cannot find that roadmap since they changed to the new website. Will have to look again.

Will you PM me with the names? NM, I should have read a bit further before asking.  Thanks, I will do some reading on Agrello

Edited by Lawyer

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My only question, which I think should be answered before the ON switch is thrown for AI, is who is liable when something goes wrong? 

I just see the potential for endless finger pointing and it would be logical to know who is responsible before humans start hand over responsibility to an entity that could be programmed to reprogram itself. 

Even in a simple use case bad things can happen. Would the AI, programmer, company or user be liable if there is some loss? 

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33 minutes ago, LordVetinari said:

Even in a simple use case bad things can happen. Would the AI, programmer, company or user be liable if there is some loss? 

no doubt there would be an eula ( who reads them aye) of some description/form covering et al in lieu of the user

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1 hour ago, fiik said:

no doubt there would be an eula ( who reads them aye) of some description/form covering et al in lieu of the user

This is my point exactly. There should be a discussion and decision now.

Look at where we are with social media. Oops, privacy. Let's retroactively fix that. The data of millions of people around the world has already been distributed. Everyone that has the data will continue to use it. 

I prefer the liability of the use of AI be determined before it starts being used. Oh, wait, it's already being used. 

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7 hours ago, Lawyer said:

Will you PM me with the names? NM, I should have read a bit further before asking.  Thanks, I will do some reading on Agrello

Would appreciate your thoughts on it after if you have any. There inst a huge amount of information out there either as they are trying to keep everything conservative on the marketing until they have a fully working product. 

11 hours ago, Vader-DeWelt said:

This is an enormous can of worms. It's going to turn into legal nightmares all over the place.

You do not want contracts to be "smart" and you do not want to be in a situation where you don't have recourse to the courts when the mechanical contracts don't work the way everyone intended.

Replacing lawyers with AI is a really bad idea. Legal contracts are subject to interpretation. This is a good thing more often than it is bad.

Experimenting with this stuff however is a good idea. If people need to think this is the best thing since sliced bread for that to happen, then so be it.

The team is a group of lawyers, and potentially this could end up being a local country project (Estonia) but only time will tell on that one.

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12 hours ago, Pablo said:

I’m aware of a few of these companies offering smart contract services but they need to overcome the hurdle of creating a contract in code that is actually recognised at law. Agrello solves it by saying “the code isn’t the contract, the contract is the contract” i.e. they’re supplementing the real contract with a code-based translation. However translation comes with its own problems as well as anyone who has tried to translate Japanese to English in google translate will know.

I’ve gone into the legal challenges for smart contracts in the Codius sub if anyone’s interested:

Personally, I think AI will become more prevalent and more quickly than smart “contracts” as it doesn’t face the regulatory hurdles that smart “contracts” have. Many FIs have already started building AI financial advice bots and market trading software that has elements of AI built in (or at least that’s what they’re telling us!)

 

 

True AI doesn’t exist yet, it’s just a widely misused term covering topics from expert systems, Machine Learning and Deep Neural Networks.

Of the above DNN are the closest to AI, but all they really are complex classification filters that can trained using reinforcement. The structured a bit like brain cells and neutrons with threshold functions- usually some sort of sigmoid functionality to bring in non linearity.

That said, they do work pretty well. The only challenge is around accountability for decisions, particularly when the inner workings of the system are obfuscated by complexity.

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