VeChain and SingularityNET collaborate on artificial intelligence initiatives to address climate change.

Artificial intelligence company SingularityNET and blockchain enterprise VeChain have recently joined forces to integrate blockchain with artificial intelligence, focusing on reducing carbon emissions.

In the past year, the cryptocurrency sector has witnessed a growing trend of collaboration between blockchain and AI technologies.

On August 24, VeChain, a blockchain compatible with smart contracts and utilized for supply chain tracking, revealed a strategic partnership with the decentralized AI services-sharing platform SingularityNET.

In a joint announcement, the companies stated that the collaboration will combine VeChain’s enterprise data with SingularityNET’s sophisticated AI algorithms to improve the automation of manual tasks and deliver real-time information.

Ben Goertzel, founder and CEO of SingularityNET, informed Cointelegraph that the integration of blockchain and AI is complementary and can address challenges where conventional methods frequently fall short.

“Recent years have demonstrated that when the appropriate AI algorithms are paired with the right data and adequate processing power, remarkable outcomes can occur,” Goertzel remarked.

Dr. Ben Goertzel asserts that an AGI operating across millions of nodes globally cannot be overtaken by hostile, centralized entities: “Blockchain addresses that issue more effectively than it resolves the issue of currency,” he states. https://t.co/jPlp5BrSUY

— Cointelegraph Magazine (@CointelegraphZN) May 2, 2023

Goertzel elaborated that the collaboration could enable AI to discover innovative methods for utilizing VeChain’s blockchain data to enhance carbon emission management and reduce pollution.

“Creating a sustainable and environmentally beneficial economy is an exceptionally intricate challenge that requires the coordination of numerous economic participants,” he noted.

“It is a challenge at which traditional economic systems have repeatedly and significantly failed.”

Additionally, VeChain’s Chief Technology Officer Antonio Senatore remarked: “Blockchain and AI provide transformative capabilities for industries and businesses, opening new operational pathways.”

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

In July, Bitcoin Miner Hive Blockchain rebranded and altered its business strategy as part of its entry into the burgeoning AI sector. Hive Digital Technologies CEO Aydin Kilic mentioned to Cointelegraph in August that blockchain and AI are “both foundational elements of Web3.”

In June, the Ethereum layer-2 scaling solution Polygon announced its adoption of AI technology. The AI interface known as Polygon Copilot will assist developers in acquiring analytics and insights for Dapps on the platform.

Dr. Daoyuan Wu, an AI researcher at Nanyang Technological University in Singapore and a MetaTrust affiliate, conveyed to Cointelegraph that the “inherent autonomy of AI aligns perfectly with the decentralized and self-governing traits of blockchain and smart contracts,” adding:

“It has the potential to transform the current centralized governance prevalent in the blockchain ecosystem into a genuinely decentralized and self-regulating model.”

MetaTrust Labs is developing a project named GPTScan, which serves as a tool that integrates Generative Pre-training Transformer (GPT) and static analysis to identify logical vulnerabilities in smart contracts.

“GPTScan is the first tool of its kind that employs GPT to identify potentially vulnerable functions based on code-level scenarios and characteristics,” Dr. Daoyuan stated in an interview with Cointelegraph.

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