Cen Inc. Launches Crypto ICO on New Premise

June 4, 2018         By: Steven Anderson

Most cryptocurrencies are backed by little more than potential and perspective. Sometimes, however, they’re backed by something else. A specific market, a specific application, even actual minerals like the Venezuelan Petro ostensibly is. Cen Inc., meanwhile, is setting up an initial coin offering (ICO) of its own, and it’s one that’s built to address the growth of artificial intelligence.

Cen’s ICO is focusing on crowdfunding, and its potential relationship to AI development. Cen posits that the current way of developing an AI is wrong; effectively, businesses hire individuals, have the individuals transfer their knowledge into the AI, and once the knowledge is transferred, fire the individuals and keep the knowledge.

This protocol, Cen notes, not only concentrates AI capability in the hands of a few major corporations, but also puts a sub-par value on human intelligence, and forces us humans out of the loop of AI development. With Cen’s new cryptocurrency, the blockchain can be put to use to record the ownership of data and, in turn, take a piece of the action generated by AI that use that knowledge.

It’s also a fundamental shift in the way internet advertising takes place; AI can’t solely hand out lists, but rather must give good, honest, and fair answers based on human knowledge. Thus humans must work with AI to continually evaluate the answers given and alter the information received accordingly.

Effectively, ultimately, the Cen cryptocurrency seems to be attempting to commoditize knowledge. An admirable pursuit, but one that’s likely to be difficult to do on anything more than a conceptual level. There’s the unpleasant issue of just who owns the knowledge in question, and therefore, who can sell it. Not all knowledge is patented or copyrighted, so determining ownership could be a task. The question of ownership is sticky enough, but then, there’s the question of just what knowledge is truly valuable, and how much it’s really worth.

There are a lot of unanswered questions with Cen’s cryptocurrency, but given as the ICO has only just launched on StartEngine, there’s still room to answer them. Still, given the problems around automation and AI, putting definitive value on human knowledge may be just the way to make sure humans don’t end up on the scrap pile of history.