Thread by @HMsheikh4

Recently I have been asked by many to explain what @Fetch_ai actually does so I thought I would do a series of threads in a very simple and understandable way. I don’t do very long threads so bear with me while I try this.

I would also like to give you a bit of context as to why we do what we do. Our mission has been largely driven by fulfilling the original promise of the internet to deliver true informational and financial decentralization.

Web2 morphed into new centralized tech behemoths who wield asymmetric power. A good concept to read on what is broken about Web2 is ‘Intention Economy’ coined by @dsearls here is a link en.wikipedia.org/wiki/Intention…

Also, solving for trustless decentralization is a hard problem when you have to account for adversarial peers. Fetch spent a year researching new tech and economic models that can become the building blocks for implementing practical decentralized use cases.

#DLT and #Web3 technology is bringing back the drive for decentralization again. Development in #ML and #AI techniques is enabling use cases which are going to dramatically change what we can achieve like #ChatGPT by @OpenAI . We bring these two technologies together.

Our objective is to create tools which can enable business cases to be developed and deployed in a decentralized manner and the ability to use ML/AI which can progressively be decentralized. I will initially do an overview of the components and then perhaps a technical thread.

To enable such an economy there are multiple components required. 1st part of our tech stack, a ledger which can cope with large numbers of fast transactions (eg. for IoT device integration) & a VM for executing complex functions securely.

2nd part of the tech stack, a method of granularizing the data collection, decision making and execution of services (a bit like microservices but for WEB3). These are Autonomous Economic Agents (#AEA). To clarify the terms Agents, AEAs and Digital Twins next:

Autonomous agents are software entities that carry out some set of operations on behalf of a user or another program with some degree of independence or autonomy, and in so doing, employ some knowledge or representation of the user's goals or desires :(computersciencewiki.org/index.php/Auto…)

AEAs are autonomous agents which can be granted Economic Agency. #DigitalTwins are just a digital representation of the physical world object or persona but without intelligence or autonomy.

For AEAs to connect and transact in a #P2P environment there has to be a framework which enables the development, communication and search/discovery of these AEAs. This is the 3rd component of our tech stack, Open Economic Framework (#OEF) or Agent Framework for short.

OEF enables things like auto protocol generation for AEAs to communicate, negotiate and exchange economic value. So now we have AEAs connecting and communicating with each other, the next stage is to provide the ability for these agents to make informed decisions.

To make a decision one needs information and insights. If for example you were to make a decision on whether to take an umbrella with you or not the information part is ‘is it raining outside’ and the insight part; ‘is it expected to rain over the next 8 hours?’

In this case the information part comes from #IoT edge device eg the weather station and the insight from the ML model. Where does the ML model come from? Who owns, trains and profits from it? That is the 4th part of our infrastructure, ‘CoLearn’ – Collective Learning.

#CoLearn is set of tools which enables the deployment, training, insight generation and ownership of the ML models. Data Engineers can deploy ML models and invite Data owners to train it without losing ownership of the data.

The AEAs (or any other Dapps) can use the model to generate insights and pay for the usage. This financial reward gets distributed to all the stakeholders.

Finally, AEAs enabling new business cases and leveraging insights from CoLearn in a P2P environment is our Web3 canvas to create a new internet that fulfils its original promise. I hope this gives a brief overview of what we are building.