Crypto project Vaiot IBM is a tech company that uses artificial intelligence and blockchain to develop smart virtual assistants for businesses. These assistants work as a digital channel for selling and delivering products and services, in addition to facilitating transactions. They can be accessed through a natural user interface such as voice chat on mobile devices. Continue reading and learn more about the Vaiot IBM project.
What is the Vaiot IBM crypto project?
The Vaiot crypto project is the first regulated crypto project in Malta, it was founded in 2018 and launched the Proof of Concept project in collaboration with IBM during Q2019 2020 and QXNUMX XNUMX. Vaiot combines AI and Blockchain to develop IVAs Smart Virtual Assistants, for both consumers and businesses. The main difference between Vaiot and Siri or Alexa is that Vaiot was created to digitize business processes like buying insurance or creating legal agreements.
The project offers a new digital channel for distributing products and services and communicating with consumers and building AI legal assistants, contracts and personal transactions that provide legal services, including blockchain-based digital contracts.
Blockchain plays a vital role in the solutions offered by Vaiot and the overall ecosystem, with use cases ranging from recording contract data and on-chain insurance policies, as well as using the VAI Token economy to encourage the utilization of such products. As a result, Vaiot solutions are supported by a token economy based on VAI Tokens, encouraging the use of Smart Virtual Assistants due to incentives such as the Payback Program powered by VAIs.
What does the Vaiot IBM crypto project offer?
VAIOT offers a portfolio of blockchain-based AI virtual assistants for enterprise, consumer and DeFi to deliver services and automated transactions backed by VAIOT smart contracts. VAI Tokens are based on Ethereum, but will eventually migrate to the Cosmos SDK, an open source framework for building blockchains in an application-specific way. Within the framework, VAIOT leverages its own intelligent solutions.
The modular structure provides highly tested and fully customizable components that securely bootstrap VAIOT applications. Cosmos breaks down the barrier between blockchains, allowing them to communicate in a decentralized way. Additionally, Cosmos features include scalability, modularity, and interoperability. The Cosmos SDK leverages the Tendermint consensus mechanism for secure and consistent application replication across machines, even in the face of malicious nodes.
What makes Vaiot different from the competition?
Vaiot’s assistants are a cut above the competition due to the combination of AI and blockchain in their solutions. The common chatbot and IVA work with a limited dataset and often fail to adapt to everyone’s experience and needs. With AI, VAIOT assistants will continue to improve, and the more they are used, the more experience they should gain.
Blockchain enables scalability that no other IVA can offer. With Legal Assistant, that means a database large enough to endlessly facilitate contracts from around the world, all on-chain to be retrieved through a simple conversation. VAIOT’s natural user interface (thanks to its IBM Watson foundation) allows for a human touch where other IVAs simply fall short.
Blockchain and artificial intelligence (AI)
Vaiot combines blockchain implementation and artificial intelligence (AI) to offer a portfolio of Intelligent Virtual Assistants (IVAs) designed for commercial and legal services for consumers and businesses. Vaiot is now classifying its proprietary IVAs as a new class: IBAs (Intelligent Business Assistants) and ILAs (Intelligent Legal Assistants). With its solutions, VAIOT offers a creative solution to the new digital landscape.
The implementation of Blockchain and AI technology creates new ways to access services digitally and conclude legal agreements securely using an intuitive and ‘natural’ user interface. All VAIOT transactions are supported by Smart Contracts, an enhancement of the concept of blockchain smart contracts that allow the creation of legally binding agreements (printable and ready to sign and stored digitally on the blockchain).
Finally, VAIOT’s AI enables its Smart Assistant to act as a broker and aggregator for various other products, such as insurance offers. All while utilizing a vastly improved user experience through VAIOT’s proprietary natural user interface.
Technological advantage of crypto Vaiot IBM project
The technical advantage of VAIOT is not only limited to the implementation of blockchain technology or AI, but also has five important aspects that are listed below.
- AI Virtual Assistant — A professional tool representing the ideal natural user interface for creating Smart Contracts and procuring products and services within the new digital services distribution channel
- COSMOS SDK — An open source framework for building the Blockchain in an application-specific way. Through COSMOS, VAIOT leverages its own proprietary AI solutions.
- VAIOT Code Generation Engine (VGCE) — When combined with AI, VGCE enables automatic conversion of an abstract description into an executable, Blockchain-based program.
- VAIBC — VAIOT’s proprietary distributed network, where AI and Blockchain are inseparably linked. On-chain AI algorithms that are part of the consensus algorithm are required for the Smart Contract generation process. Blockchain ensures that every network participant has certainty about the decisions made by the AI and ensures that it cannot be manipulated or influenced from outside the network. Both technologies have several dependencies on VAIBC.
- IBM Watson — One of the most recognized business solutions, leveraging the latest innovations in machine learning to support the automation and optimization of complex processes. Watson components enable the development of VAIOT’s advanced proprietary algorithms that are the foundation of the VAIOT platform.
Token GO
The VAIOT platform is powered by your token GO native, which serves as a utility as well as a payments token within the ecosystem. The total supply of VAI cryptocurrency will be released in 10 years, the total supply is 400.000.000. The VAI Token is ubiquitous in VAIOT solutions.
Acting as a settlement and incentive method for users, it helps secure network operations as well as purchase services at lower prices. Users can also be rewarded for providing platform-specific data. The token’s significant utility will be a key factor in the strong ecosystem around VAIOT. In the future, its usefulness will always play an important role in decision making.
Bottom Line
Built on a proprietary blockchain based on the open source Cosmos SDK framework, the VAIOT combines the functionalities of a blockchain programmer and personal assistant through interwoven blockchain, AI and natural user interface. The platform is designed to serve as a virtual legal assistant and AI-powered digital service delivery channel, meeting the needs of businesses and consumers alike, ensuring 24/7 access to services and delivery channels .
