BotChain ICO Review and Rating

BotChain ICO Review

AI

Updated 08/16/18

BotChain’s platform aims to advance transparency in AI and autonomous software, allowing increased verification and trust in the industry, as well as the ability to collaborate and accelerate development of AI technology.

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ICOBench3.7

BotChain Token Sale

Whitepaper Website
TickerBOTC
Not allowedUSA
Token Price1 BOTC = 2.50 USD
Hardcap$40M
Raised$5M

Social Hype

Followers1,449
Followers3,163

BotChain GitHub Activity

Commits across all public GitHub repositories owned by BotChain.

BotChain ICO Review & Analysis

Systems powered by AI and Robotic Process Automation (RPA) are seeing increasingly wider use, from industrial robotics, to commercial software. However there lacks a universal standard for compliance within the industry, which could lead to large problems in the future with higher powered automation. Talla, a company focused on development of AI software, is creating BotChain to make future development of Ai systems safer and more transparent.

What is BotChain?

BotChain presents solutions for three major issues in AI/robotics:

  • Transparency – the need exists to track decision making and processes executed by bots. We need the ability to audit errors or problems that arise from bots, in order to rectify the behaviour in future development.
  • Standardization – for continued growth of AI ecosystems, bots will need the ability to communicate with each other and create networks. Therefore, there must be a standard set of protocols used in automated systems.
  • Open Commerce – in order to achieve peak progress in the industry, we need a way for developers, third parties and more to connect in a commercial environment.

BotChain provides the framework for behavior tracking and auditing procedures. With BotChain, bots will have digital certificates, noting details about all of their actions and interactions. Records are immutable, and stored on the blockchain.

Another feature will be a universal bot registry, used to verify the identity and authenticity of a bot, similar to the way web browsers verify a page when a user visits. BotChain forms a distributed ledger for AI activity, essentially the dedicated blockchain for the AI industry.

The Token

A token economy works within the BotChain platform, the BotCoin (BOTC) token. The token is used in an open marketplace for AI software and tech development, as well as features such as multi-tiered certification and registry within the BotChain ecosystem. It is likely that the marketplace and token economy will grow to incorporate more features in the future, related to the maintenance or improvement of AI software.

The Team & Roadmap

BotChain is a project of Talla, a company already active in AI software development. CEO Rob May is an entrepreneur and active contributor in AI circles, with investments in a number of blockchain and AI startups.

The team launched a test network in April 2018, to be followed with the mainnet in May, at the same time public token sale begins. The network will introduce identity and auditing functions in November 2018, the open marketplace in April 2019, and bot communication protocols in December 2019.

 

Talla and BotChain are operating in an industry primed to be the next big source of growth in tech. Although some details are still to be fleshed out and developed, such as the BOTC token economy, if the team can release a functional product by the end of the year, they could see some early traction with industry development.

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