As the most promising project in existence combining AI and blockchain, Cortex successfully raised roughly $35 million in its private placement round back in March and now boasts a core team of over 20 developers, researchers, and scientists. The Cortex native token (CTXC) is now traded on numerous international exchanges, with a daily trading volume of over $5 million.
In order to maintain the momentum and spread its global influence in the tech world, Cortex has brought highly respected tech veteran Kris Singh on to its Board of Advisors and partnered with Ubitus, one of the world’s largest cloud computing companies, to bring together blockchain, AI, and cloud technologies. For details on these exciting developments, read on below!
Cortex is a pioneering project that aims to integrate AI and blockchain technologies by providing an infrastructure where AI developers can store state-of-the-art machine learning models on the blockchain to be inferred by smart contract and DApp developers.
The project saw a few major developments over the last few weeks, among which were the addition of Kris Singh to the Board of Advisors and the partnership with Ubitus. These developments will help secure Cortex’s position as a leading global pioneer in the blockchain and AI space.
Cortex Brings Kris Singh, Founder and President of SRII, onto Its Board of Advisors
SRII, Service Research and Innovation Institute, was founded with the mission to “drive research and innovation for ‘IT-enabled services’ for a better world.” The foundation works closely with senior leaders from major IT companies such as Google, Apple, Amazon, Intel, Microsoft, IBM, as well as the academia, research institutes, and government organizations all around the world.
Kris Singh, founder and current president of SRII, recently joined Cortex as a member of the Board of Advisors. A senior leader in Silicon Valley for more than 30 years, Kris has extensive experiences working with industry leaders such as IBM Research, Intel, and AMD. His areas of expertise include embedded systems, semiconductor products, data center technologies and digital services for major sectors of the economy and leading large cross-functional global organizations. He will help Cortex build its Silicon Valley network and global partnership.
Photo: The Cortex team and Kris Singh (third from right)
Ziqi Chen, founder & CEO of Cortex Labs, stated, “Kris’s broad IT industry background and his strong leadership with global organizations will provide great value to Cortex Labs for building an AI on Blockchain Ecosystem in Silicon Valley and around the world.”
In addition to his work with SRII, Kris works closely with the academia to help drive innovation in education and entrepreneurship. As a visiting professor at Tsinghua University in China, an Industry Fellow at the College of Engineering at UC Berkeley, and an adjunct professor at the Electrical Engineering and Computer Science department at Santa Clara University in California, Kris will help advance Cortex’s presence in academia. He stated that Cortex’s product was “unique and powerful,” that he was “very impressed with the passion and vision of the company leadership team,” and that he was excited to be part of the company.
Cortex’s Partnership with Ubitus
After a series of successful meetings, Cortex and Ubitus, the largest GPU cloud service in Asia, signed a memorandum of understanding (MoU) in which Ubitus agreed to accept CTXC, the Cortex native token, as a payment currency in its cloud computing business. The partnership will help Cortex build a healthy AI ecosystem and better off-chain training solutions for AI models while providing Cortex with the first use of CTXC as a payment method.
One aspect of the MoU promises that Ubitus will support Cortex by providing massive GPU cloud computing power needed to develop AI on Blockchain. This will benefit Cortex immensely, as the construction of stable computing power is a high barrier of entry for most companies: it requires not only high equipment and operating costs but also professional AI and GPU talents.
In addition, Ubitus offers GPU computing powers at a competitive cost in comparison to the current market price of companies like AWS and Google Cloud. AI researchers now will have access to more cost-efficient off-chain computing service in conducting AI research and training. The development of the decentralized AI ecosystem will greatly benefit from this reduction of cost associated with GPU computing.
The Cortex Labs has been actively reaching out to collaborate with AI labs, academic and private research institutions around the world in order to build the AI on blockchain ecosystem. The partnership with Ubitus will allow Cortex to provide low-cost off-chain computing services to these institutions for AI model training. The democratization of AI will be achieved when the AI research labs are supported with the necessary computing power to continually develop good AI models for the world.
As for Ubitus, the company not only locks in a long-term customer but also can combine its existing gaming industry experiences and resources to establish a blockchain business unit with the help of Cortex.
Ziqi Chen is optimistic that the synergies between the two companies will help accomplish Cortex’s mission in building a decentralized AI autonomous system. By designing the Cortex Virtual Machine (CVM) to run on GPUs and FPGAs instead of CPUs, Cortex allows AI models to be inferred on the blockchain and executed effectively, ensuring transparency and security. AI developers are incentivized to upload their models to the storage layer of the Cortex blockchain, while smart contract developers can incorporate these AI models in their smart contracts, making them “truly smart.” Therefore, the partnership with a GPU giant like Ubitus is instrumental.
Finally, it is worth mentioning that, in addition to meeting with Ubitus, the Cortex team visited several well-known cryptocurrency exchange platforms in Japan and is optimistic that formal relationships with these exchanges can be established once crypto-regulations become more formalized in Japan.
The last word
The new world of blockchain is an exciting one, experiencing unprecedented growth around the globe. The same can be said of artificial intelligence. As we move forward with these two technologies, we are sure to see meaningful progress and significant value created for industries of all shapes and sizes. As the pioneering AI and blockchain platform, Cortex is leading the revolution. The recent tech updates and industry partnerships will go a long way towards achieving that vision.
To learn more, visit www.cortexlabs.ai.
Company Name: Cortex Labs Pte Ltd.
Contact Person: Amy Chen
Email: Send Email