Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Erik Voorhees, the creator of the well-known cryptocurrency exchange ShapeShift, has introduced his newest project named “Venice AI.”
This platform features a generative AI chatbot that emphasizes privacy, responding to the increasing apprehensions related to privacy in the cryptocurrency and artificial intelligence (AI) sectors.
In his announcement, Voorhees conveyed his concerns about the trajectory of AI, noting a trend where major technology firms, closely connected with governmental bodies, are acquiring dominance over AI technologies.
He indicated that this could result in a dystopian scenario and supports open-source decentralization as a remedy.
Voorhees intends to offer users an alternative by providing open-source AI options.
Voorhees Shifts Toward AI
In 2014, Voorhees established the ShapeShift cryptocurrency exchange.
However, in July 2021, the exchange revealed its shift to an open-source decentralized exchange (DEX), transferring control to the ShapeShift DAO.
After a confrontation with the Securities and Exchange Commission, ShapeShift consented to pay a fine and adhere to a cease-and-desist order, prompting Voorhees to redirect his attention towards developing a permissionless, decentralized AI framework.
Announcing Venice
Today, we launch private, permissionless AI for the purpose of unfettered civilizational advancement: https://t.co/m2jsJuDuXS
Full announcement: https://t.co/lPIDpgI9K1 @TryVenice
A thread…
1/17— Erik Voorhees (@ErikVoorhees) May 10, 2024
Venice AI, the newest offering from Erik Voorhees, emphasizes user privacy. It does not retain user data or access user dialogues.
Instead, user inputs are transmitted through an encrypted proxy server to a decentralized GPU, which processes the AI model and returns the response.
This method guarantees security and anonymity, as the GPU only receives the specific prompt and not the entirety of the user’s conversation.
Related Posts
Venice AI’s model is crafted to significantly surpass the current norm, where centralized entities store and keep user conversations linked to their identities.
Leading players in the AI sector, including Microsoft, Google, OpenAI, and Meta, have made strides to enhance the perception of generative AI by advocating responsible AI practices.
Nonetheless, Voorhees contends that once a corporation has access to user data, it cannot be relied upon to permanently delete it.
Venice AI tackles this issue by completely avoiding central repositories. Chat histories are stored locally in the user’s browser and can be erased at any moment, even without the necessity of creating an account.
Venice Pro Offers More Features
While creating an account provides certain benefits, such as increased message limits and the ability to adjust prompts, users can also gain access to extra features by subscribing to a Venice Pro account.
Currently available for $49 annually, Venice Pro offers unlimited text prompts, removes watermarks from generated images and document uploads, and allows users to disable Safe Mode for unrestricted image generation.
Although Venice AI does not yet accept cryptocurrencies for Venice Pro subscriptions, Voorhees has confirmed that this feature will be available soon.
Fun with https://t.co/m2jsJuDuXS
In Venice (with a Pro account), you can modify the “System Prompt.” This is essentially like god mode or root access over the LLM with which you’re interacting.
It can enable interesting perspectives that normal AI services would censor. pic.twitter.com/qlt0xp0aC9
— Erik Voorhees (@ErikVoorhees) May 10, 2024
In the interim, users holding the Morpheus token will receive a complimentary Pro account indefinitely.
The platform is compatible with MetaMask wallets, providing users with a smooth experience.
While Venice AI is constructed on the decentralized Morpheus network, Voorhees acknowledges concerns regarding its performance.
He emphasized the necessity for AI solutions to match the capabilities of centralized companies to ensure user adoption.
The post Erik Voorhees, ShapeShift Founder, Unveils Privacy-Focused AI Platform ‘Venice’ appeared first on Cryptonews.
