Qubic APAC Growth Lead Eric Fung Discusses Qubic’s Vision at Korean Blockchain Week

Korean Blockchain Week (KBW), a global gathering which brings together top blockchain and Web3 leaders, was held in Seoul, Korea between the 1st and 7th of September, 2024. The annual event features world-renowned experts presenting cutting edge technologies, providing insight on the latest trends, developments, and future of the blockchain. 

At this year’s event, Qubic APAC Growth Lead, Eric Fung presented a keynote speech, entitled “What is True AI?”, discussing Qubic’s vision and how the project differs from existing blockchains, emphasising the transformative potential of Qubic’s technology.

Qubic’s Solutions for Current Problems with AI

Eric explained that traditional retail hardware struggles to handle complex AI models, and centralised systems rely on massive data centres and huge investments, limiting AI ownership to researchers and big players. This raises concerns about AI censorship, geopolitical issues, and freedom, leaving the “little guy” with limited access. 

Qubic offers a solution through the power of collective computing, utilising a decentralised network of everyday devices such as personal computers, laptops, and even smartphones. By leading the way in decentralised AI, Qubic ensures that everyone can contribute to our global AI supercomputer and utilise processing power, making AI accessible and empowering for all.

Leading the Way in Decentralised AI

Eric went on to say that Qubic, via Aigarth, is aiming to develop Artificial General Intelligence (AGI) that is scalable and uses artificial neural networks in order to achieve this. We will also offer virtual education and technical workshops, along with the Qubic Grants Program for new development, to further support and innovate in the AI space.

Qubic’s Innovation

Eric explained how Qubic’s unique technology enhances decentralised finance while developing and democratising Artificial General Intelligence (AGI), with the goal of making it available to everyone worldwide. He explained Qubic’s unique quorum-based consensus mechanism which requires a consensus of a pool of Computors before changes are made, ensuring a high level of network security. 

He stated “The quorum protocol requires 66% of the computing power—451 out of 676 computors or validator nodes - to agree on major changes. This setup ensures a high level of security because a significant majority is needed to approve any alterations. Unlike Bitcoin’s 51% proof-of-work system, which relies on miners, our model requires a supermajority of independent Computors. This approach makes it more difficult for any single entity to gain control, thus enhancing security.”

Aigarth

AI can analyse vast amounts of data and make predictive decisions, which can then be executed by smart contracts. Eric further explained Qubic’s unique AI solution, Aigarth. 

“Aigarth is our AI system. The name comes from “AI” and “Garth,” meaning garden. It’s a metaphorical garden of different types of AI - good, bad, useful, and useless - that evolve together. Our founder envisions Aigarth as a collection of AI tools that, over time, could become sentient. This diverse “garden” approach allows for a range of AI applications and experiments.”

Qubic’s Integration

Qubic will integrate AI, oracles, and smart contracts facilitating automation, with the ultimate goal of allowing AGI to solve problems autonomously. Eric emphasised the transformative potential of combining these technologies, stating, “By merging AI with oracles and smart contracts, we can create a more dynamic and responsive blockchain ecosystem.” 

He elaborated on the role of oracles, which are crucial for bringing real-world data into the Qubic network. He explained, “Oracles act as bridges between the blockchain and the outside world, enabling smart contracts to react to real-time information.” This integration allows for more sophisticated and adaptable applications, enhancing the overall utility of the Qubic network.

Qubic will integrate:

• Oracles

• Aigarth

• UPoW

• AGI

• Smart Contracts

• Quorum-Based Protocol

• ANNs

Qubic L1 AI Blockchain: A Triple Engine for AI Growth

Eric further elaborated on Qubic’s network, which will act as a triple engine for AI growth, leveraging network effects and sustainable development. Aigarth uses Qubic solutions to fuel development, utilising smart contracts to access AGI. With over 350,000 nodes (miners), Qubic’s decentralised network ensures robust and scalable AI capabilities for the future.

Useful Proof of Work (UPoW)

Qubic’s Useful Proof of Work (UPoW) is an innovative twist on the traditional Proof of Work (PoW) mechanism used in many cryptocurrencies. Useful Proof of Work (UPoW) integrates AI training tasks into the mining process. Instead of solving arbitrary mathematical puzzles, miners perform valuable AI training tasks, such as processing large datasets or training machine learning models. 

Advantages of this approach are:

• Energy Efficiency: AI training can be optimised to run on standard hardware, potentially consuming less energy compared to traditional PoW.

• Real-World Benefits: The computational power used in mining contributes to the advancement of AI, making the process more productive and environmentally friendly.

• Artificial Neural Networks (ANNs): The UPoW protocol directs computational power towards training ANNs, harnessing the network’s capacity for machine learning progression

Real-World Applications

Eric discussed industries that will benefit from Qubic’s technology, which include medical science, transportation and scientific research, among others. He sees tremendous potential for Qubic to benefit the medical field due to its capacity to solve problems that significantly impact humanity. 

Another area that will benefit is decentralised finance, where Qubic’s technology could facilitate more efficient transactions and adapt to rapidly evolving market conditions. He stated “Many sectors could benefit from Qubic, including medical science, transportation, and interior science research. However, we’re particularly focused on the medical field because breakthroughs here can significantly benefit humanity and, consequently, our AGI system. This sector offers opportunities for impactful developments that align with Qubic’s goals.”

Path Forward

Qubic continues to develop with the ultimate goal of developing impactful real-world applications and making AI accessible to everyone. We are in the process of expanding to more exchanges and growing our team of developers in addition to increasing our global presence. We see a bright future for Qubic’s role in Web3, DeFi, and the integration of blockchain with AI.

We envision a future where these technologies work seamlessly together to create a more efficient and intelligent blockchain infrastructure. Eric concludes, “The synergy between AI, oracles, and smart contracts will pave the way for innovative solutions and unprecedented advancements in the blockchain space.”

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