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Cortex Launches Deep Learning and AI Network for Decentralized Apps

Cortex claims that this is the first time that artificial intelligence has been introduced to a crypto network at scale.

Cortex has launched a network for decentralized apps powered by artificial intelligence (AI,) according to a news release published on June 26.

The company claims this is the first time that AI has been introduced to a crypto network at scale. It is hoped the technology will be used to generate credit reports for the decentralized finance industry and facilitate anti-fraud reporting for exchanges — and Cortex believes the gaming and eSports sector could also benefit from a “diverse range of use cases.” Cortex CEO Ziqi Chen said:

“In the near future, we expect to see stablecoins based on machine learning, decentralized decision making, malicious behavior detection, smart resource allocation, and much more. These are challenges that all intersect with crypto networks, where having trained AI models that are accessible on-chain will prove to be extremely valuable.”

Looking ahead, Cortex says it plans to work with developers to implement AI dApps on its network, and deliver on-chain machine learning to networks beyond Ethereum.

Earlier in June, the European Union announced plans to increase the amount of data that can be reused as raw material for AI and blockchain projects.

An AI-powered index tracking the 100 strongest-performing crypto coins and tokens was also recently added to Reuters and Bloomberg trading terminals.

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Exclusive: Microsoft Registers Blockchain and AI Platform for Agriculture in Brazil

Microsoft’s technology, known as FarmBeats, uses blockchain, drones and AI to improve productivity and reduce water consumption on farms.

Microsoft has registered a suite of applications in Brazil that are designed to improve efficiency in the agriculture sector, according to an exclusive report by Cointelegraph Brazil on June 6.

The technology, known as FarmBeats, uses blockchain, drones, IoTartificial intelligence and big data to improve productivity. It has already been rolled out on farms in the United StatesIndiaNew Zealand and Kenya, achieving a 30% reduction in water consumption.

Ranveer Chandra, the scientist who created FarmBeats, recently said that the agriculture sector had been left behind by the benefits big data, AI and blockchain can bring — even claiming that hunting had seen more digital transformation despite being a smaller industry. He told business and economy magazine Epoca Negocios:

“Brazil is one of the first countries that comes to mind when we think of agriculture. We developed FarmBeats so that its technology could be applied here and in other developing countries.”

The technology is regarded as crucial as farmers struggle to make a living while competing with a changing climate and growing demand for produce, Epoca Negocios writes. Chandra explains that production needs to increase by 70% in the next 30 years if global food requirements are going to be met.

The scientist has called on Brazil’s government to embrace the technology and subsidize it in a similar way to farming equipment and fertilizer. Besides helping farmers use resources more effectively, FarmBeats claims it can enhance accuracy and yield by delivering vital statistics about the temperature, moisture and nutrients in the soil.

Microsoft has made several forays into the blockchain world of late. Last month, the United States giant released the new Azure Blockchain Development Kit for the Ethereum blockchain — aiding developers who are building apps on the network.

Also in May, the company announced it was building a decentralized identity network using the Bitcoin network known as the Identity Overlay Network (ION.)

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Beyond Bitcoin: Thompson Reuters Expands Data Service to Top 100 Cryptos

Mass media and data giant Thomson Reuters is expanding its cryptocurrency sentiment data toolkit to cover 100 different coins, the company announced Wednesday.

Initially launched back in March, the bitcoin data feed was created in partnership with MarketPsych Data LLC. The Thomson Reuters MarketPsych Indices Cryptocurrency Sentiment (TRMI 3.1) package monitors more than 2,000 global news and 800 social media sites in real-time.

It gauges sentiments such as “excitement” or “hope” to provide insight on investment and reveal market patterns using natural language processing combined with machine learning.

“Adding a cryptocurrency-focused sentiment feed to our suite of cross-asset solutions has…enabled us to provide our customers with invaluable insights that may help them make strategic investment decisions,” said Pradeep Menon, Thomas Reuters’ global head of investing and advisory.

Supplemented by quantitative analysis, TRMI 3.1 uses a host of additional tools developed by the behavioral economists at MarketPsych to “identify influential themes and more rapidly develop actionable strategies”, according to the firm.

This expansion in the capabilities of TRMI is part of a growing use case for artificial intelligence technology among investment insights products.

CEO of MarketPsyche, Richard Peterson, explained in a past interview that trends in digital conversation can be identified as leading or lagging investment indicators.

With a class of assets like cryptocurrencies that are by nature digital – and the information flow around them highly sourced from online forums – sentiment data may prove to be a particularly poignant indicator of where the crypto markets are heading.

Index image via Shutterstock

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