GriffinAI Project Emerges in Switzerland to Construct Advanced AI Agents on the Blockchain
GriffinAI, a groundbreaking initiative led by crypto expert Oliver Feldmeier, has been launched in Switzerland with the aim of enhancing the capabilities of AI agents by integrating them into a secure and decentralized network. The project’s initial focus is on improving DeFi experiences through the use of advanced AI agents like ELANN.AI. The next steps in the project’s development include the launch of a mainnet and the publication of a technical whitepaper on May 15.
GriffinAI, a newly established project in Switzerland, seeks to create a decentralized platform where AI agents and humans can collaborate effectively in a secure and permissionless environment, generating value in the process.
Oliver Feldmeier, the driving force behind GriffinAI, has assembled a highly experienced team with deep knowledge of both the blockchain and machine learning industries. Feldmeier, a seasoned veteran in the crypto sector, previously built the first fully regulated digital asset platform in Switzerland in 2017. As CEO, he successfully executed the first IPO of its kind in Europe on Nasdaq.
Enhancing the Capabilities of AI Agents
“The limitations of current AI agents in performing tasks require a transformative approach. On one hand, with the ongoing advancements in large language models (LLMs), these agents are poised to become significantly more intelligent. On the other hand, by integrating the agents into blockchain-based networks like GriffinAI, they can become more autonomous and useful today. For example, on the GriffinAI network, each agent will have an individual ID and wallet, enabling them to transact and manage more complex tasks. Imagine an AI agent acting as an investment research analyst who can independently purchase access to necessary data or research reports, something that is currently beyond the reach of AI agents,” explains Oliver Feldmeier.
On-Chain Agents for a Secure and Permissionless Network
Deploying AI agents on the blockchain within the GriffinAI ecosystem addresses significant challenges such as corporate control over agent development. GriffinAI allows any developer to build and monetize their agents in a permissionless manner, bypassing corporate approvals. However, this approach also introduces potential risks from malicious or harmful applications. “To mitigate these risks, trust can be established within this environment through on-chain ID and third-party verifications,” Feldmeier explains. On the GriffinAI network, any agent or agent developer can operate a node and establish their identity using the GriffinAI public key, which facilitates reputation building.
Foundation as the Bedrock of a Decentralized Network
The project’s success hinges on its deep decentralization and proper legal framework. Due to the team’s extensive expertise in regulatory and compliance matters, they have chosen to establish GriffinAI as a non-profit foundation in Liechtenstein. This setup optimally connects the structure to a Decentralized Autonomous Organization (DAO) while ensuring regulatory compliance prior to the planned issuance of non-security tokens later this year.
First Use Case: Decentralized Finance (DeFi)
Development of the first agent prototypes for the GriffinAI project began last summer, with a focus on improving the DeFi investment experience, which is one of the major pain points in crypto investing. The team has initiated the development of three distinct AI agents: a research analyst, a transaction execution manager, and a risk manager. The research analyst agent prototype, introduced as ELANN.AI in October, aggregates and evaluates news, delivering AI-generated summaries and reports from over 100 news sources in various styles and tones. “The upcoming conversational interface will enable users to directly interact with their research analyst, significantly reducing the time spent on personal research,” Feldmeier adds.
In January, leveraging multilingual Natural Language Processing (NLP) technology, the team released the first localized version of ELANN.AI for the Korean market, which led to a partnership with Bithumb, Korea’s second-largest exchange, and the subsequent integration of ELANN.AI into its non-custodial wallet, Burrito.
Looking Ahead
After the mainnet launch of GriffinAI later this year, agents like ELANN.AI will begin operating within the GriffinAI protocol, not only enabling transactions but also facilitating seamless integration into any decentralized application (DApp). Prior to the testnet launch, the team is scheduled to release the technical whitepaper for the GriffinAI network on May 15, coinciding with the launch of the first contributor program.
Website:
https://www.griffinai.io/
X:
https://x.com/Griffin_AI
Telegram:
https://t.me/GRIFFINai
Discord:
https://discord.gg/AGZDk5BqFA
Follow Us on Google News
Disclaimer: The above text is an advertorial article and is not part of Cryptonews.com’s editorial content.