Fetch.ai: Will Blockchain Drive the AI Revolution?

Published on
December 10th, 2020
58 minutes

Fetch.ai: Will Blockchain Drive the AI Revolution?

The Interview - Crypto ·
Featuring Humayun Sheikh and Santiago Velez

Published on: December 10th, 2020 • Duration: 58 minutes

Humayun Sheikh, founder and CEO of Fetch.ai, joins Santiago Velez, co-founder & R&D division lead for Block Digital, to discuss how blockchain has enabled new opportunities for supply chain management, AI, and machine learning. Sheikh breaks down Fetch.ai and how it leverages blockchain to enable an incentives-aligned platform for autonomous agents. He explains that the transparency of blockchain enables autonomous, multi-agent systems and how AI and machine learning projects will dramatically benefit from this. Sheikh touches on some of the potential, unintended consequences of these systems and possible solutions for them. Filmed on November 24, 2020. Key Learnings: AI and machine learning will dramatically benefit from blockchain technology. Fetch.ai represents one of the first projects aiming to capitalize on this newly available wealth of public data. Sheikh covers the value-add blockchains provide to other nascent industries as well as some of the unintended consequences of utilizing such transparent platforms.



  • TK
    Tomoko K.
    15 December 2020 @ 18:48
    Thrilled to see Santiago taking the interview's seat! He's one of my favorite, most insightful guests and hope to see more of him on RV Crypto. Bravo!
    • TK
      Tomoko K.
      1 January 2021 @ 00:16
      P.S. Big ups for the transcript w/video. SO helpful.
  • CH
    Crag H.
    11 December 2020 @ 18:27
    Wow! Blockchain, AI and ML in the same project? Question is: Why not toss some DEFI in there as well? Anyway, this will definitely conquer the world.
    • SR
      Steve R.
      15 December 2020 @ 10:07
      DeFi ?? Take a look at Atomix: https://fetch.ai/introducing-atomix-ai/ Hope links are ok :-)
    • CH
      Crag H.
      28 December 2020 @ 17:58
      (I was being sacrastic)
  • GA
    Gabriel A.
    18 December 2020 @ 00:44
    We need AI in the Insurance industry to lower premiums!
  • AH
    Ali H.
    14 December 2020 @ 13:35
    It looks like the fetch token is only supported on binance, not Kraken or Coinbase sadly
    • SR
      Steve R.
      15 December 2020 @ 10:04
      The picture will be vastly different in 12 months' time (clearly), in my humble opinion. I always enjoy listening to Humayun speak - he has an enviable ability to reduce a question down to its core. Fetch.ai is an interesting proposition, one which I am, as of recently, heavily invested in.
    • TE
      Tito E.
      17 December 2020 @ 11:42
      @Steve R: do you mind me asking how you are invested?
  • KL
    Kalle L.
    15 December 2020 @ 14:22
    Mind blown great vision! As a startup guy I can relate to the difficulty in achieving change, it is really hard, hopefully fetch don't over-extend and manages to plant some really strong roots/projects. Also ties into a decentralized behavioral incentive economic narrative, an alternative to the centralised version Mr. Pal talks about in other interviews, right? Best of luck Huamayun
  • SV
    Santiago V. | Contributor
    10 December 2020 @ 18:22
    The work they are doing at Fetch is incredible. Viewers, please take the time to digest the implications of what was being discussed as I myself am still grappling with them. I consider myself incredibly fortunate to have been privy to this work.
    • SS
      Sunny S.
      10 December 2020 @ 19:25
      Santiago, your interviews of late have been a Pandoras box. Wouldn't governments be incentivised to collect the data from models as part of a regulation narrative, how could this play out with current global government centralisation tendency. Take for example the health systems. They have the tendency to not use emails for sending medical information due to privacy concerns and some governments now push for centralised medical data like in Australia. Eventually insurance companies would assess your cost of health insurance based on your historic medical records and their models. Fine perhaps over the long term as it incentivises new habits yet punishes poor genetic. In the interim it encourages price gauging of the older public whom don't have access to these models and can't change the past. Also, how are people like Humayun commercially incentivised to build a blockchain based AI autonomous system that disperses that machine learning outcomes and its monetization to the stakeholders or participants once it is fully established or even at roll out?
    • TS
      Thomas S.
      10 December 2020 @ 23:18
      Santiago ... very cool stuff. loved the discussion. i need to go back and watch it again as i am a little dense on the technical side. question for you (and i hope this doesn't sound too stupid) .. using the Uber example. I certainly understand the value in eliminating a middle man, or at a minimum, squeezing their margin as much as possible. To the extent that we move to this software/oracle-type model, who pays for this ? Do the riders and drivers buy/lease the software ? Presumably, it will need to cost less than whatever "charge" Uber previously was extracting from the parties Am I understanding the concept properly ? thanks. TJ
    • AH
      Ali H.
      14 December 2020 @ 13:24
      How best to play this theme ? Chain link ?
    • CD
      Christopher D.
      14 December 2020 @ 20:49
      @ Ali H ChainLink is just addressing the oracle part of it from what I gather. IOTA for the internet of things angle. For the Encrypted Federated Learning, I am not sure. Fetch itself? https://blog.openmined.org/encrypted-training-on-mnist/
  • CD
    Christopher D.
    14 December 2020 @ 20:09
    I love how Humayun bursts into laugh hearing the word 'policy makers' at 26:45. Random thought: parasitic behaviour in the incentive based system - such as cars intentionally blocking the way to get a 'make space' micro-payment - could be dis-incentivised by the pricing itself. So you're paid if you're in the way, yes, but putting the vehicle on that way already has a cost which outweighs the reward. A potentiel issue I can see with ABM systems is self-organised criticality. In other words the market will be prone to a complex system build up followed by some sort of avalanche. Pure fantasy, but an hypothetical example would be flying cars suddenly seeing their 'sunlight block' cost go through the roof in some sort of short squeeze. That would prompt all flying cars to find a parking space on solid ground. Careful with your head.
  • PJ
    Peter J.
    14 December 2020 @ 10:47
    Can't believe so few people seem to have watched this. Absolutely fascinating and learned so much, but will need to rewatch / read transcript to get it all. Don't know where they found Santiago, but he's a great asset to RVTV as an interviewer in this space, excellent questions and observations really added to the topic.
  • ML
    12 December 2020 @ 18:42
    This is by far one of the best RealVision Crypto interviews!! It gives us a glimpse of the 2nd generations blockchain, beyond irrelevant debates about bitcoin vs. ethereum. If only 10% of this platform (mainly based in Ethereum) materializes with real economic services in finance, transportation, agriculture, energy,etc. the Ethereum platform will be transacting hundreds of trillions of dollars and ETH market cap will be several orders of magnitudes larger than bitcoin, gold or any other asset. The disintermediation of services from todayƛ darlings like Uber, AirBnB, DoorDash, etc. is on the horizon. The Internet promised from the beginning eliminating the middleman, but it just happened the other way around. With the combination of blockchain, machine learning and AI this is now posible.
  • BK
    Binyam K.
    12 December 2020 @ 15:32
    This will "eat all block chain related projects". Thanks!
  • MS
    Martin S.
    11 December 2020 @ 21:39
    That was freaking awesome! Geezo need a lie down to digest, blew my mind. Amazing interview.
  • CR
    Carlos R.
    10 December 2020 @ 23:23
    I remember this project back in the days of the wild wild west. I'm too, so very thankful to you Santiago for shining a needed light on such amazing work. With so much stuff going on everywhere, it's not always possible to know what's real and what isn't. Fantastic conversation. Thank you both.
  • DW
    Dean W.
    10 December 2020 @ 22:43
    Very interesting and certainly gives a look into what the future might look like. I'm not convinced that a blockchain is needed for most AI or for file storage applications. But perhaps there's a role for a micropayment blockchain like Stellar to interact with these autonomous agents and Dapps. 5G is also going to certainly create new opportunities for the kind of autonomous agents he discusses. I agree that we need to move away from these tech giant aggregators (GOOG, MSFT, FB, etc) and their surveillance capitalism business models.
  • SS
    Sunny S.
    10 December 2020 @ 18:48
    This is super exciting dialogue with huge implications. It sounds like the hive mind in AI but I didn't understand how anonymity is preserved when incentivising the participants providing data in models? Can someone elaborate more?
  • RR
    Ray R.
    10 December 2020 @ 18:26
    wow. my mental Richter scale just went through 8.2....this was a very insightful piece. thx Santiago n Humayun