The DAO Chief Who Wants Artificial Intelligence to Take His Job

A recent US$40 million-plus bid for a rare copy of the U.S. Constitution by 17,437 virtual strangers may have failed to win the prized historical document, but it thrust the decentralized autonomous organization that united them into the spotlight.

If this novel fusion of a leaderless organizational structure with decentralized technology can work to get auction bids up and running, who’s to say it can’t be applied in the finance arena?

Not Marcello Mari, the CEO of SingularityDAO — which is using SingularityNET’s artificial intelligence technology to handle the complex tasks of data processing and crypto asset management in decentralized finance.

“Imagine an AI that can do price prediction for you, analyze the different market trends, and make suggestions for you on your crypto investments,” Mari told Forkast.News in a video interview. “People can just invest in this basket of tokens in these portfolios, and then the AI will do everything else for them.

Watch Mari’s full interview with Forkast.News Editor-in-Chief Angie Lau to learn more about how DAOs work, how AI will shape DAOs and DeFi and where ConstitutionDAO went wrong.

00:00 Introduction
01:45 Decentralized autonomous organizations
04:36 All in the decentralized world
12:52 All in the metaverse?
15:54 Disrupting economic relationships
22:42 The DAO hesitancy
25:40 SingularityDAO launchpad
27:38 Case study: ConstitutionDAO
30:26 AI, DeFi, DAO, and Beyond

---

HIGHLIGHTS

How egalitarian are DAOs?
“Currently the one who holds the majority of the tokens is also the one who has the main say in the DAO, which can be correct from a certain point of view. However, you have the fact that the wealthiest are the most powerful within the DAO, so we need to fix that layer of problem. And I think this could be fixed in the future by artificial intelligence.”

Should AI be developed behind closed doors?
“A future where AI will become more independent, will make more decisions that are affecting human society, is almost inevitable. So the question is: ‘Do we want this artificial intelligence to be developed behind closed doors by Google, Facebook, Alibaba or Amazon?’ Or do we want this artificial intelligence to be developed by the people on a transparent and permissionless ledger where everybody can see what's happening ... I think everybody would agree that we would much rather have a decentralized approach to artificial intelligence development rather than a centralized one.”

When robots run finance:
“I understand that a lot of people don't have that knowledge to access the crypto economy yet. That's why we want artificial intelligence to help them and support them through this process. There is a concept called ‘financial singularity,’ which is when the robots will actually take over and manage all financial activities, almost obtaining a perfect market balance. I think that this is what we’ll reach in probably 10 to 15 years' time from now.”

AI in the metaverse:
“We’re using our AI to decentralize social media in a project called MindPlex. And we’re also creating a new metaverse that will be launched next year, where artificial intelligence and humans will be able to act as avatars within the same metaverse. So we’ve heard a lot of talk about metaverse recently. It's a very common and hot topic, and we're going to do one around the character of Sophia, the humanoid robot, which we collaborated in building a few years ago.”

Where ConstitutionDAO went wrong:
“There were mistakes in the design and the architecture of this project, because the amount that they would have spent to buy the Constitution was actually declared in advance. They give you an opportunity for this person to outbid them very easily. So it was a mistake in their design. It was also a mistake to use ETH, which is very expensive to use.”

---
#Crypto #Blockchain #BlockchainTechnology #DigitalAssets #Cryptocurrency #DeFi #DAO #ConstitutionDAO #DecentralizedAutonomousOrganizations #Decentralization #AI #Metaverse #Finance #Technology #ArtificialIntelligence
---

OTHER WORD ON THE BLOCK INTERVIEWS:    • Word on the Block