The post SingularityDAO To Merge With Cogito Finance & SelfKey To Tokenize The Global AI Economy appeared on BitcoinEthereumNews.com.

The decentralized and artificial intelligence-powered portfolio management protocol SingularityDAO has said it’s planning a major transformation in order to accelerate its plans to bring AI on-chain.  As part of its evolving mission to merge AI with the decentralized finance ecosystem, it’s merging with Cogito Finance, a specialist in real-world asset tokenization, and SelfKey, a key player in decentralized identities, to create a new entity called Singularity Finance.  The vision for Singularity Finance is a Layer-2 blockchain network that’s tailor made for the tokenization of the AI economy as RWAs, and it plans to achieve this by leveraging all three of its founders’ technologies. It’s an ambitious goal, but Singularity Finance can provide both the infrastructure and funding needed to bring innovative new AI applications on-chain.  SingularityDAO is a key player in the SingularityNET ecosystem, which offers a decentralized, blockchain-based marketplace for AI systems. It’s primarily focused on bringing AI to DeFi, with its main innovation being a decentralized protocol that relies on AI algorithms to optimize asset management on behalf of users, so they can better balance their crypto portfolios. Using its platform, investors gain automated, advanced risk management capabilities, which can be tailored to the level of risk they’re willing to tolerate.  As for Cogito Finance, it’s another member of the SingularityNET ecosystem that’s focused on the tokenization of traditional assets. It has built a suite of AI-powered investment products for users, including the GFUND, TFUND and XFUND smart contract vaults, which tokenize fixed-income assets and equities so they can be traded on the blockchain. Cogito was built to overcome some of the key challenges in DeFi, including unsustainable yield farming and regulatory uncertainty.  Finally, SelfKey is the creator of a decentralized identity network, enabling blockchain users to create and manage self-sovereign identities that prove their credentials while ensuring…

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Filed under: News - @ October 15, 2024 7:20 pm