VADUZ, LIECHTENSTEIN / ACCESSWIRE / May 13, 2024 / GriffinAI, recently initiated by crypto luminary Oliver Feldmeier in Switzerland, aims to revolutionize AI Agent capabilities through integration into a secure, decentralized network-the inaugural phase of the project centers on refining DeFi experiences using advanced AI agents such as ELANN.AI. Upcoming milestones include the mainnet launch and unveiling a technical whitepaper on May 15.
This newly established venture in Switzerland, GriffinAI, seeks to establish a decentralized platform fostering efficient collaboration between AI agents and individuals to generate value within a secure, permissionless framework.
Spearheaded by Oliver Feldmeier, the GriffinAI initiative boasts a seasoned team with extensive expertise in blockchain and machine learning domains. Feldmeier, a stalwart in the crypto industry, previously spearheaded the establishment of Switzerland's premier fully-regulated digital asset platform in 2017. Notably, as CEO, he orchestrated Europe's maiden IPO of its kind on Nasdaq.
Enhancing AI Agents' Capabilities
"The limitation of today's early AI agents in performing tasks demands a transformative approach. On one side, with the ongoing advancements in large language models (LLMs), these agents are set to become significantly smarter. On the other hand, by integrating the agents into the blockchain-based networks such as GriffinAI, they can become more autonomous and more useful already today. For example, on the GriffinAI network, each agent will possess an individual ID and wallet, thereby giving them the ability to transact and manage more complex tasks. Imagine an AI agent representing an investment research analyst who could independently purchase access to necessary data or research reports, a feat currently unattainable for AI agents".
says Oliver Feldmeier
On-Chain Agents for a Permissionless yet Secure Network
Deploying AI agents on-chain within the GriffinAI ecosystem addresses significant challenges like corporate control over agent development. GriffinAI allows any developer to build and monetize their agents in a permissionless manner, bypassing corporate approvals. However, this opens up potential risks from malicious harmful applications. "To mitigate these risks, trust within this environment can be established through on-chain ID and third-party verifications," explains Feldmeier. On the GriffinAI network, any agent or agent developer can operate a node and establish their identity using the GriffinAI public key, which enables reputation building.
Foundation as the Base for Decentralized Network
A key to the project's success is its deep decentralization and proper legal setup. Due to the team's extensive expertise in regulatory and compliance matters, they decided to establish GriffinAI as a non-profit foundation in Liechtenstein. This arrangement optimally connects the structure to a Decentralized Autonomous Organization (DAO), while maintaining regulatory compliance ahead of the non-security token issuance planned for later this year.
First Use Case: Decentralized Finance (DeFi)
Development on the first agent prototypes for the GriffinAI project commenced last summer, focusing on DeFi investment experience, to address the biggest pain point of crypto investing. The team has initiated the development of three distinct AI agents: a research analyst, a transaction execution manager, and a risk manager. The research analyst agent prototype, launched under the brand ELANN.AI last October, aggregates and evaluates news, delivering AI-generated summaries and reports from over 100 news sources in various avatars and tones of voice. "The upcoming conversational interface will allow users to interact directly with their research analyst, vastly reducing the time spent on personal research," Feldmeier added.
In January, leveraging multilingual Natural Language Processing (NLP) technology, the team released the first localized version of Elann.AI for the Korean market, which brought about a partnership with Korea's second-largest exchange, Bithumb, and the subsequent integration of ELANN.AI into its non-custodial wallet, Burrito.
Looking Ahead
After the GriffinAI mainnet launch later this year, agents like Elann.AI will commence operations within the GriffinAI protocol, making them not only transaction-enabled but also facilitating easy integration into any decentralized application (DApp). Ahead of the testnet launch, the team is set to release the GriffinAI network's technical whitepaper on May 15, alongside the launch of the first contributor program.
Website: https://www.griffinai.io/
X: https://x.com/Griffin_AI
Telegram: https://t.me/GRIFFINai
Discord: https://discord.gg/AGZDk5BqFA
Contact:
Oliver Feldmeier
Griffin AI Founder
hello@griffinai.io
Birkenweg 6, Vaduz, Liechtenstein, 9490
SOURCE: Griffin AI Founder
View the original press release on accesswire.com
