In 2024, artificial intelligence (AI), is one of the hottest topics of discussion. One company is standing out for its innovative approach: Valory, a research and deployment company at the intersection of crypto and AI, is leading the charge in creating open-source frameworks for decentralized and community-owned AI.
Valory’s mission is to enable communities, organizations, and countries to co-own AI systems, starting with decentralized autonomous agents. The company recognizes the immense potential of AI, but also understands the risks associated with centralized control over such powerful technologies. By promoting co-ownership, Valory aims to ensure that the benefits of AI are distributed equitably and that the technology is developed and deployed responsibly.
This article discusses Valory’s pioneering efforts in developing co-owned AI systems, their use of blockchain technology to enable decentralized ownership of AI, and their innovative work on autonomous AI agents to manage AI benefits and risks equitably.
Innovators in Shared AI
The Valory team, including Olas DAO member and CEO of core contributor, Valory, David Minarsch, comprises skilled engineers, researchers, and commercial executors. They are instrumental in founding the Olas DAO (formerly Autonolas) and developing the Olas stack. This group of innovators built the first services using this stack, cementing their position as pioneers in the field of co-owned AI.
Decentralizing Power in AGI Development
Valory’s work is crucial in addressing the challenges posed by the development of Artificial General Intelligence (AGI). AI systems are becoming even more advanced and autonomous every day, and there is a growing concern about the concentration of power and wealth in the hands of a few entities controlling these technologies. However, public scrutiny was not always present: In fact, Valory has been working toward its community-owned AI vision since 2021, before the general public started being concerned about potential pitfalls of AGI en masse 2-3 years later. Valory believes that co-ownership is the key to preventing such negative outcomes and ensuring that AGI benefits society as a whole.
“What we see over and over again, what people really connect to when they connect with us, is that they can actually own a piece of this AI future,” Minarsch shared. “Otherwise, people worry that this increasingly powerful technology is something only opaque companies in Silicon Valley own — which is not the case with Valory.”
The company leverages blockchain technology to provide a foundation for decentralized ownership of digital resources and applications. By building on this decentralized infrastructure, Valory enables the creation of co-owned AI agents that can perform various tasks, from AI DAO governance to prediction markets.
Redefining AI Ownership and Transparency
Valory’s approach to co-owned AI extends beyond the limitations of traditional legal structures. The group recognizes that legal frameworks may not be sufficient to ensure responsible AGI development and deployment. Instead, Valory focuses on creating governance frameworks for co-ownership embedded in the technology itself. This led to it co-creating Olas, a substrate for co-ownable agentic AIs, with true co-ownership and transparency enabled and incentivized by the software and cryptography itself.
The Olas Stack, to which Valory regularly contributes, consists of multiple layers that enable the development and deployment of decentralized AI applications. These layers include the blockchain layer, the off-chain runtime layer, and the agent application layer. By integrating a blockchain layer that ensures openness, transparency, and auditability while providing incentives, Valory created a robust and widely-adopted ecosystem for co-owned AI.
Some examples of co-owned AI agents developed by Valory include Governatooorr, an autonomous AI-powered delegate for DAO governance with a simple, robust, and extensible model for building AI x Web3 apps; and Olas Predict, which serves as an inaugural example of a PoAA (Proof of Active Agent)-powered agent economy. For context, PoAA is a unique blend of Proof of Work and Proof of Stake, where agents remaining active within a certain time frame retain their stake and earn rewards. This was developed by Valory and adopted by Olas this year.
Olas Predict uses AI agents to predict the future, then uses these predictions to trade real value on blockchains. Currently, these AI agents’ predictions of the future have up to 75% accuracy and have led to over 450,000 blockchain transactions. Initiatives such as the Olas Staker Expeditions showcase PoAA effectively, with these agents accounting for more than 15% of all Safe transactions ever completed on the Gnosis Chain.
These agents demonstrate the potential of co-owned AI to solve real-world problems and create value for communities and organizations.
Crafting a Responsible AI Future
Valory’s work is about developing technology while experimenting with autonomous AI agents to manage the benefits and risks of AI for society. The group actively collaborates with communities and organizations interested in decentralizing and owning their own AI applications.
As the world grapples with the implications of AI, Valory is at the forefront of shaping a future where AI is co-owned, transparent, and beneficial to all. Through its innovative approach and commitment to decentralization, Valory is paving the way for a more equitable and responsible AI ecosystem. Those interested in learning more are welcome to sign up for Valory’s newsletter here: https://www.propel.valory.xyz/newsletter
About Valory
Valory is a research and deployment company at the intersection of crypto and AI, specifically the premier creator of open-source frameworks for co-owned AI. Its mission is to enable communities, organizations, and countries to co-own AI systems, beginning with decentralized autonomous agents. Valory is the VC-backed team of engineers, researchers, and commercial executors that co-founded the Olas DAO, contribute to the Olas Stack, and built the first services using it. They collaborate with those interested in creating their own autonomous agent-based apps and economies.
