Talla launches ICO for its BotChain network, a critical product that is expected to become necessary for every entity working on AI and AI-powered products.
We are surrounded by various bots performing their duties. As AI continues to develop further, the role and power of these bots is increasing, and they are becoming more and more autonomous and unaccounted for. The issue with this increasing level of automation is that nobody, not even the company itself, is in full control of these bots and they are inauditable to a large extent.
The need to train, constrain and make these bots auditable for their actions has never been more important. Talla, a leading startup in AI software, has announced a new BotChain network that will help create an identity for each bot and eventually let the enterprises hold them accountable. They aim to generate much needed funds for the development of the new platform through an Initial Coin Offering (ICO).
The Talla company has spent two years researching the issue of bots in major companies. They have deployed more than 2500 talla bots in various companies, and subsequent data showed the immediate need for auditable enterprise robots, something that is often neglected in the AI business.
Bots are very unpredictable and the free hand given to them by most enterprise often leads them somewhere where they aren’t wanted at all. So, what the BotChain platform will do is creating certificates for each bot action – these certificates will be stored in the ledger technology of blockchain. This recordkeeping will allow identification of each individual robot, and once they are successfully identified, they can be pointed out to the enterprises. Each company will have their own encrypted keys and these keys can be used to monitor the actions of one’s own bots.
Rob May, CEO of Talla said:
“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.”
The auditing and identification of robots is becoming more and more important as bots continue to handle workflows that require verification like HIPAA and SOC 2. BotChain helps with the verification and validation of these bots. It is a critical product that is likely to become necessary for every entity working on AI and AI-powered products. The end users, especially that are affected most while using enterprise platforms working with bots, will also be able to gain a clear trail of interactions with their data. Since all of this is based on the blockchain, the trail cannot be destroyed. In addition, it will particularly help in stopping Spam and spoofing.
The BotChain token, Botcoin (BOT) will be made available to the public in an upcoming token sale. 50% of the 30 million token supply will be sold to the public; tokens not sold publicly will be burned. The token price is fixed at a whopping $5 per coin and, if successful, could become one of the highest-performing token sales ever.