Date : 22 May 2024
Host : Running Beast | TGH
Guest : Christophe & hawky (Co-Founders).
Hello Gem Nation and Crypto Enthusiasts!
We recently hosted an AMA with Block AI. So here we are up with the AMA transcript, for those who missed the live session, this post will be a time saver & a feeder of knowledge for everyone.
INTRODUCTION
Running Beast | TGH:
Hello everyone. Welcome to the AMA session with BAI.
Welcome @hawky_BAI and @kriseekka. I will be your host today
hawky:
Welcome everybody and thanks for having us!
Running Beast | TGH:
Pleasure to meet you
Christophe:
Hi everyone, happy to be here :)
WildFire:
Excited for this ama
Running Beast | TGH:
Let’s start with today’s first question
Please give us a brief introduction about your project and what are you guys trying to showcase? What is the story behind its origin? When did it start?
hawky:
BAI combines two of the current megatrends in IT: blockchain and artificial intelligence. We do this in two directions:
1) Our B2C approach: we provide different AI API’s for users, so that users don’t need to register with a large number of different AI providers if they want to use/combine different AI Tools. Additionally, we developed small tools on top of already existing AI API’s, e.g., a youtube summarizer, allowing to summarize videos on youtube, a discussion tool in which AI agents discuss a certain topic, a brainstorming tool which allows for profound brainstorming sessions based on AI agents to generate a visual MindMap as a result and there are other tools we plan for the future, e.g., a general decision support system based on the QOC approach.
2) Our B2B approach: currently, blockchain based applications that make use of Smart Contracts can not access AI, on the one hand due to the oracle problem and on the other hand due to the computational complexity of modern AI based approaches. Therefore, we developed our agent based approach which allows Smart Contracts to raise AI tasks which are then picked up by our agents and once the task is solved, the result is stored on the blockchain and the Smart Contract receives an information that the solution is calculated so that the Smart Contract can continue with its business process.
One major aspect of our project is our DAO: we have reserved a major part of our tokens for our DAO. Within the DAO, users of our platform can participate in the decision about the future development of BAI. Here, the voting power of a particular user is determined by the platform usage of the particular user.
Running Beast | TGH:
That’s great .
hawky:
We have an already running a POC on three different test networks: Waves, Base and BNB. Here, we have different agents for different AI API’s running and make them available for our community.
We started mid of 2023 guided by the question of how blockchain could provide an added value to the AI domain and vice-versa. That is basically, how we came up with the two lines of development described above.
Running Beast | TGH:
Please tell us about the idea behind this and how you are going to scale up your project with time? What are the special features that make it Innovative and Unique?
This looks amazing 🤩
Christophe:
As described in Marc previous answer, our main idea is to combine an added value for both, AI and blockchain. We will scale in basically two dimensions: we will continuously add new AI API’s, mostly based on decisions based on our DAO, and on the other hand we will scale by adding new blockchain networks.
It is important to understand that we are following a clear multichain approach. We do not focus on a single blockchain network, but we will deploy our solution to different networks on which we see a need for our solution.
Current MVP on Testnet only shows the most basic version of our project and will be greatly improved later with a lot more features to match the Web 2.0 version of AI UI Tools.
Running Beast | TGH:
How many blockhains do you support in total right now?
Christophe:
3 at the moment, BNB Chain, Base and Waves
Running Beast | TGH:
Cool
Christophe:
Yes! :)
Running Beast | TGH:
In recent few years, various industries have looked towards a Web3 future. One of the major concerns still remains the security. How are you going to ensure the security of users data?
hawky:
Indeed, security is a very crucial topic!
Currently, the data provided for the AI requests and the result of those tasks, are stored openly. We are currently developing approaches in which we will deploy special agents that allow for storing the data encrypted. Fun fact, we haven’t received any request for data encryption from our community so far.
Running Beast | TGH:
Guess, further developments will be made in the near future as the project becomes global and bigger
Please give us a brief information about the DAPP to DAPP CALLBACK. Can we operate this on multiple chains simultaneously?
hawky:
Absolutely!
Running Beast | TGH:
Next question here.
Christophe:
Well, the dApp is basically the Smart Contract and the frontend for the B2C approach described above. The callback mechanism is the implementation of the B2B approach. And sure, you can do calls to our Smart Contracts on different blockchains, also simultaneously.
What does not work so far, and not sure if it will ever be needed, is to access the results from one chain on another one. In theory there could be gateways for this, but I rather doubt that there will be a reasonable use-case for it. That being said, if our userbase comes up with a reasonable use-case for it, we would be more than happy to implement it!
Running Beast | TGH:
That’s great. Having a mindset to build and change according to the need of users is what’s expected.
hawky:
That’s one of the cornerstones of the project, but we will get to this later in more detail i guess…
Running Beast | TGH:
Yeah. Definitely 👍.
Moving to the next question
Let’s get some insight into your token, please tell us about its use case and how it will be crucial for the growth of the project. How are the proceeds going to benefit and foster long term sustainability?
hawky:
This is actually pretty simple. The token is a utility token! It is used for paying the services we provide. The proceeds will be used for the future development of the project, both, tech wise, but also for marketing, listings, company expenses and so on. We are a Hong Kong registered and fully compliant company.
The longterm sustainability is guaranteed by our well-thought tokenomics:
There are 10M BAI tokens, which we will spread across the different networks that we support. We promised our community, that we will only sell 500k tokens in the first year, 300k tokens in the second and 200k tokens in the third year. Therefore, only 1M token will be circulating after 3 years + what the community would decide to release eventually. Additionally, 1M tokens are reserved for the founders, which will also only be released after 3 years.
The additional 8M tokens will be given to the BAI DAO. On the BAI DAO users of the platform can decide what kind of development they want to support for the BAI project. Here, the voting power will be determined by the platform usage: the more a user uses the platform the more he has to say in future decisions about the platform. We think that this does not only make sense because of fairness, but also for technical decisions: the more a user uses the platform, the more he should know about the platform and take wiser and more informed decisions.
Running Beast | TGH:
Will the token burn be depending on the market conditions or just as scheduled?
hawky:
There is not yet any token burn planned, yet, we can consider this in cases of a stable financial situation of the company and a corresponding decisions of our userbase.
Running Beast | TGH:
Cool.
What kind of partnerships is BAI looking for to boost its growth and adoption?
Christophe:
First and foremost, we are looking for other projects that are interested in using our technology. This might be blockchain projects that would benefit from integrating certain AI in their Smart Contracts, or AI projects that would see a benefit from working on the blockchain. Either of both are more than welcome to contact us!
Beside this, we are of course also looking for strong partners that are interested in any kind of collaboration. This might range from joint marketing campaigns, running hackathons together, doing research either in the blockchain or AI field (related to our goals) and so on.
Basically, we are very open-minded and hope to gain contacts to other like-minded projects.
Running Beast | TGH:
And lastly, please tell the community about your plans ahead. Why should we invest in your project. Please tell us about the Public Sale, Upcoming events, Roadmap, milestones and potential updates moving forward.
hawky:
Well, our public sale is currently live on
until May 29 after which we will start to add Pools on AMM like Pancakeswap and Uniswap.
We are also already accepted on a Tier1 CEX that we will list on soon after the Public Sale if we reach our defined public sales threshold.
Development wise, we have a very detailed roadmap for our development till end of the year:
Running Beast | TGH:
That’s awesome news.
hawky:
Yes, we are very fund of it!
Christophe:
Here is the roadmap :)
hawky:
Thanks!
And we hope that from 2025 on, our development process will fully be driven by our DAO based approach.
Running Beast | TGH:
The plan and roadmap looks promising . Now it just needs proper implementation
Christophe:
Yes and we are working hard on it everyday :)
hawky:
That’s what we stand for! 😉
Running Beast | TGH:
That’s all from my end.
Now we move on to the live AMA session
hawky:
Let the fun part begin… Not that it hasn’t been funny so far… 😉
LIVE AMA QUESTIONS.
Cyoo | EG:
How does Block AI address the oracle problem in blockchain-based AI applications? And how you ensure the reliability and accuracy of AI results stored on the blockchain?
hawky:
Basically, that’s what our agents are for. Our agents run externall, monitor the corresponding blockchain for new AI tasks, solve those externally and store the data back on the blockchain and thus making it accessible to the smart contract that requested the task. If you look on our roadmap, we have tasks in Q4, which will specifically handle the reliability problem that comes with this approach.
Muhammad Zaki:
In terms of member involvement, how does BAI foster a sense of community and collaboration among its investors, and what role do members play in decision-making processes?
hawky:
That’s a very good questions. As described above, we will base our future development (and partly also business) decisions on votings within our community. The more a user has used our platform, the more power he has in the voting process. This approach will help us to get a solid and loyal userbase, which is also interested in the future development of the whole platform.
BlubBlub Crypto:
How does Block AI navigate the complex regulatory landscape of AI in finance, and what measures are taken to ensure compliance across different jurisdictions?
hawky:
Well, first and foremost, we are not a financial token. We have registered the company in Hong Kong for its very clear regulation. We had huge discussions with our consultants about different legislations and we found that the regulation in Hong Kong is most suited for our project, so we registered there. Next step, and that was really no simple, was to come up with a compliant bookeeping model, which combines our blockchain based activities with FIAT activities that you naturally have while registering and maintaining a company. Really tricky!
Eric 🧩:
Can you tell us more about the background and expertise of the developers, for the people that don’t know you.
Who are the humans behind the tech.
Christophe:
I’ve been a web developer for 20+ years, mostly as a freelancer, working for European Union, Sephora, The World Bank and several brands / institutions. in 2019 i started build DAPP on the Waves Blockchain and in 2021 i released the first NFT Marketplace on Waves sign-art.app.
Marc is Prof. in applied Science university in Germany, he also build several blockchain project, a startup sold to CISCO and many other things. He have been very active on the Waves Blockchain since the beginning. We both met on waves and started work together from there :)
alves:
I want to know what are the ways that Block AI generates profits/revenue to maintain your project and how its revenue model ? How can it make benefit win-win to both of you I mean for investor and for your project?
hawky:
We will add a certain percentage on top of the fees we have to pay for the different AI providers.
W 120:
What is tha main rison to use blockchain for AI? Is it only power of blockchain mining or it has other pros ?
Can AI transport messages and in this case create social network on blockchain?
Christophe:
One of the main reason here is to only use your blockchain account to access all kind of AI, without the need to subscribe and pay monthly, give your credentials etc. Here you remain anonymous, you pay as you go using $BAI token for each request and all your requests and results are stored on chain for ever, regardless if the AI company close in future. Also for the B2B part, there is no way to access AI directly on chain, the only way is using a system like the one we are offering.
Shivu:
How does the project plan to promote a more inclusive and equitable digital future?
hawky:
That’s basically the goal of our B2C approach (as described above): we call it “democratization of AI”, but we probably mean the same as you by “more inclusive and equitable”: we want to make the AI world more accessible and easier to combine.
Alikaa Azzahra 🐣:
Current NFT is a hot topic, but are NFT not just for art. Does your project think that more real world use cases will emerge for NFTs as time goes on, why should we take NFTs seriously?
hawky:
We see a huge potential for NFT’s, e.g., in terms of tickets for events. But probably @kriseekka can better answer on this, cause i know he has a former project on this topic too… 🙂
Running Beast | TGH:
Thank you very much guys. That’s all for today.
It was an amazing AMA session. Feel free to drop all important links related to your project.
hawky:
Thank you very much again for having us! It was a real pleasure…
Christophe:
As we will run out of time, we want to also invite everyone to join our telegram for any follow up or if you want try ou MVP as well:
@baitoken
Our website:
Our full documentation:
Our MVPs:
Our socials:
Running Beast | TGH:
Community members don’t forget to join them for further updates.
hawky:
Yes, and unfortunately, we haven’t been able to answer all (good) questions. If we haven’t answered yours yet, please feel free to approach us, either via our channels (preferred of course! 😉 ), or via DM.
Christophe:
Thank you for your time everyone and thank you for hosting us here :)
Running Beast | TGH:
Thank you for joining us today. Looking forward to more such informative sessions
hawky:
Have a good evening everybody!
Fransisco:
Great AMA guys
Eric 🧩:
Good AMA
Cyoo | EG:
thanks for explanation nice ama today 👏
