What is Fetch.ai?

Fetch.ai (FET) is a decentralized machine learning network that aims to democratize access to artificial intelligence (AI) technology. Launched in 2019, Fetch.ai aims to provide a permissionless network where anyone can connect and access datasets using autonomous AI. The network is designed to execute tasks that leverage its global network of data, with potential applications in various sectors such as DeFi trading services, transportation networks, smart energy grids, and more. The Fetch.ai model is underpinned by its utility token, FET, which is used to find, create, deploy, and train digital twins, playing a crucial role in smart contracts and oracles on the platform.

How does Fetch.ai work?

Fetch.ai operates through a unique technology stack that includes four distinct elements. The Digital Twin Framework provides modular components that help teams build marketplaces, skills, and intelligence for digital twins to connect with. The Open Economic Framework provides search and discovery functions to digital twins. The Digital Twin Metropolis is a collection of smart contracts that maintain an immutable record of agreements between digital twins. Lastly, the Fetch.ai Blockchain combines multi-party cryptography and game theory to aim for a censorship-resistant consensus and rapid chain-syncing to support digital twin applications. The platform's core components include the learner, the global market, the Fetch.ai Blockchain, and a decentralized data layer based on IPFS.

What are the potential use cases for Fetch.ai?

Fetch.ai aims to provide solutions for a wide range of use cases. Its technology can be used to optimize DeFi trading services, transportation networks, smart energy grids, and any complex digital system that relies on large-scale datasets. By using FET tokens, developers can build and deploy their own digital twins on the network, accessing machine-learning-based utilities to train autonomous digital twins and deploy collective intelligence on the network. Additionally, validation nodes are enabled by using FET tokens, which assists in network validation and reputation building.

What is the history of Fetch.ai?

Fetch.ai was founded in 2017 by Toby Simpson, Humayun Sheikh, and Thomas Hain, and launched via an Initial Exchange Offering (IEO) in March 2019. Humayun Sheikh is the current CEO of Fetch.ai, while Toby Simpson, the former COO, now serves on the Advisory Board. Thomas Hain, the former Chief Science Officer, was a co-founder and director of Koemei before joining Fetch.ai. The Fetch.ai network uses blockchain technology, aiming to provide a decentralized network with additional privacy measures through differential privacy.