Listing of a new coin on our website — Fetch (FET)

What does the company/project do?

Fetch.AI is a combination of artificial intelligence (“AI”), machine learning (“ML”), multi-agent systems and blockchain technology to create a cost-effective internet. In essence, it is a platform that has digital composites of data, hardware, services, infrastructure, and users working to find solutions to various problems.

Fetch.AI Ecosystem

uses distinctive smart ledger technology to provide high quality solutions at affordable prices. The ledger uses a proof-of-work mechanism that uses AI to accumulate knowledge over time. The goal of Fetch is to automate an unlimited number of markets that currently require a huge amount of manual intervention. Autonomous economic transactions will provide virtually seamless markets that operate at digital speed. Fetch.AI envisions a world where everyone owns multiple economic agents on the Fetch.AI platform that work in series or in parallel to come up with solutions to today's and tomorrow's complex problems that are far more elegant and efficient than humans can produce.

Features

Fetch AI is registered in the UK with the aim of creating a digital economy where autonomous agents can interact with each other without human intervention. Here are a few problems that Fetch AI is trying to solve:

• Improve cost-effectiveness by providing market information to prevent problems such as delivering empty containers and waste energy using the power grid.
• Disconnect between centralized systems because they can't communicate effectively with each other.
• Scalability of distributed ledger technology.

Fetch AI creates a product that allows you to complete tasks, provide data, provide services, and get rewarded for your efforts. The technology includes a three-layer architecture:

1. Autonomous economic agents (AEA).
2. Open Economic Framework (OEF).
3. Smart Ledger. ML and AI are integrated into all levels to inсlude an intelligent element in the systеm.

A few important features inсlude:

• OEF is the digital world in which AEAs operate, allowing them to access services and connect with other partners. In addition, high-level commands (transmission, exploration, search, and discovery) and low-level commands (building consensus, mutual trust, transactions, and protocol control) can be executed.
• AEA is a digital entity acting on its behalf. They are connected to existing equipment and can communicate with other agents to fulfill the requirements of the owner.
• Smart Ledger is a unique blend of blockchain and DAG with two main components: 1) smart ledger contract; 2) data stored on DAG.
• uPoW - A useful consensus that validates work that builds market understanding and trust over time.
• Intelligent machine learning that improves efficiency using past, present and future elements used by AEA.
• 40k tps synchronization between nodes and 30k tps for mining blocks.

Token FET

When the Fetch.AI mainnet is launched, the FET token allows autonomous economic agents to perform tasks on the network. The FET token is the key method of value exchange on the Fetch.AI network. It is required for all network exchanges, as a method of registering on the network, for distribution, and as a mechanism for delivering value back to those doing work on the network. The FET token provides agents with access to the digital world. This allows them to exist in this world, in several places, and explore it in search of other agents that could make a profit or profit from it. This value can be in the form of access to services, data, infrastructure, or data processing through AI and ML algorithms. FET tokens can be used for many purposes, the largest of which are:

• Connectivity of agents and nodes to the network: FET is an access token that acts as a form of wager to demonstrate a desire to behave appropriately. It modulates the ability of attackers to flood the network with unwanted hosts or agents due to the increasing cost of doing so. Fetch.AI is running modeling and simulations on its testnets (both public and private) in the first half of 2019 to determine what this rate should be.
• Agent-to-Agent Value Exchange: A FET token is required for two agents, no matter where they are located, to exchange values. The FET token is infinitely divisible, allowing for transactions that have a very low monetary value, but collectively provide a new and deep level of understanding and opportunity.
• Search and discovery access and advertising services: FET tokens are required to access, browse and interact with the Fetch.AI search engine. It is a space optimized for offline digital assets, enabling dynamic and offline pricing and reconciliation.
• Access to Fetch's multi-dimensional digital world: FET tokens allow agents to view and explore their digital space geographically, semantically or economically. Some of these detailed representations require significant computational time and communication between many nodes. These more resource intensive operations will require more tokens. Fetch's AI and ML are constantly restructuring this world to optimize the individual representation of each agent.
• Ability to access and develop ledger-based AI/ML algorithms: The FET token enables the development and access of a wide range of machine learning and artificial intelligence tasks that are available on the ledger. These can be primary services developed by Fetch, such as trust and prediction models, or large-scale, independently developed services for network users.
• To trade for Fetch operating fuel: The operating costs in Fetch.AI are separated from the FET token in a similar way to that used for "gas" on the Ethereum network, but with additional functionality designed to increase the stability of such fuel and look at problem solving. related to the economy with high and low speed. Fetch operational fuel allows access to processor time for executing contracts and services for agents.

Competitors

Fetch AI will compete with several blockchain projects that intend to integrate ML and AI. However, the characteristics of the Fetch AI product show superiority compared to peers. Here we have listed a couple of our competitors compared to Fetch AI.

Strengths

• An innovative product that allows you to share information autonomously with higher bandwidth than competitors.
• The sale of tokens on Binance Launchpad increases the credibility of the project.
• Potential exchange listing within a short period after TGE considering Binance partnership.
• Good deal structure with low $6M capital United States and a reasonable estimate of market capitalization based on the initial circulating supply of tokens.
• A strong team with vast experience and academic excellence.

Weaknesses

• Past companies founded by the CEO have had huge liabilities (UVue with £800k debt and Mettalis with £3.2m debt). Another company, itzMe, has closed its website and is no longer working
• Delaying the launch of the virtual machine can create a snowball effect on other stages of the roadmap.
• However, there are minimal commits and no Github activity for most of the staff, however, Binance states that most of the development is done privately and will be moved to public repositories over time.

Opportunities

• $15.7 trillion AI impact — PwC research predicts that AI could contribute $15.7 trillion to the global economy by 2030. This is equivalent to a 26% and 14.5% increase in GDP in China and North America, respectively. The sectors that will have the greatest potential impact on AI will be the automotive, healthcare, retail, and consumer sectors. PwC also says that one of today's startups could become the market leader in 10 years.
• A truly offline  blockchain environment. This sector has been saturated with numerous blockchain infrastructure projects, however, those that integrate ML and AI are far from being many. Not to mention that it can create a digital environment for devices (agents) to interact and use meaningful data. In addition, most applications interact with data using fetch methods, not push, and Fetch AI technology tries to solve this problem.

Threats

• Machine learning models require huge computing power and resources to run. This can increase exponentially if the complexity of the problem increases, eventually leading to network inefficiencies.
• AI software development can get out of control if not developed properly. One good example is Facebook abandoning two of its AI experiments after bots created an incomprehensible language only machines can understand.

Conclusion

Fetch.AI is one of the most ambitious blockchain projects as it is also trying to integrate artificial intelligence. There is great hope for success as the team appears to have the skills, knowledge and industry experience to build something that can solve numerous real-world problems across industries ranging from supply chain to energy and more. However, there are still very real risks that the project will not be able to make their vision a reality. Development is expected to be a long and costly process. The ICO will help cover these costs, but it would be nice if Fetch could secure a solid corporate partnership to support the team's efforts going forward. The good news is that the project has become more open and transparent. There have been detractors in the past who have said that the project may have been a scam due to the lack of information made public. This has changed over the past few months, and this added transparency makes Fetch a much more forward looking project.