Place/Date: Boston, MA - December 1st, 2017 at 7:26 am UTC · 3 min read
Contact: Brooke Torres, Source: Tralla
Announcing its utility token sale this week, Talla, a leader in enterprise A.I. software, today shared the development of their new BotChain network. After two years and over 2500 installations of Talla bots at various companies, Talla recognized the need for compliant enterprise bots and for bot actions to be audited and inspected.
As artificial intelligence makes agents and bots more autonomous, and reinforcement learning makes them more unpredictable, the need to constrain and capture their actions for training, auditing, and compliance becomes more urgent. BotChain works by creating digital certificates with every bot action and storing those certificates on a blockchain for creating an identity for each bot. Companies with decryption keys can then audit or inspect those certificates and this will help to monitor bots’ activities.
“As more organizations deploy intelligent robotic processes, the need for BotChain is only going to grow. Compliance is incredibly important to large enterprises,” said Michael Maloney, the former blockchain CTO at Ernst and Young.
His statement was further echoed by Chris Curran from PricewaterhouseCoopers (PwC):
”As bot processes grow within organizations, it makes sense that they would be subject to risk and compliance requirements just like any other workers.”
This becomes increasingly important as bots start to handle workflows that require certification, like HIPAA, SOC2, and more. BotChain allows auditors to validate that bots are compliant with the requirements of these workflows. BotChain also manages bot registration and identification.
“Bots are starting to be spoofed. Hackers are using them to steal information and because of this, bot identity is rapidly becoming an issue. BotChain is an identity solution for bots, so that as humans interact with more bots, or bots interact with each other, they can quickly establish trust,” said Rob May, CEO at Talla.
The BotChain provides critical systems for anyone that uses A.I. powered products, as well as those that develop them.
For example, end users of any A.I.-powered, autonomous system will gain an auditable trail of interactions and decisions made, accomplished by hashing information about each agent task to the blockchain so it is immutable. Bots’ identities are verified with certainty to the humans that use them, and to other bots, preventing bot spoofing and spamming.
Developers, companies, and individuals will need Botcoins, the token of the BotChain, in order to transact. The token sale is a way to get tokens into the market at launch. It is currently anticipated that, of the tokens initially created, 50% will be sold to the public, and those that are not sold will be burned.
Further, it is anticipated that twenty percent of the tokens will be reserved for BotChain partners, advisors, and developers. The terms of Botchain’s utility token sale remain subject to change. Companies interested in building on BotChain should reach out to Talla.
Disclaimer Botchain is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections.This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest