Developing decentralized AI

CEO and Founder of Masterblox, Carlos Prada believes decentralized AI is the future of intelligent systems – in this interview with Katy Micallef he discusses how it’s set to shake up the status quo in the Web3 ecosystem.

Which industry trends for 2023 do you predict will have the most impact on the emerging tech space? Which areas are likely to see the most growth, and which ones are likely to face challenges?

Undoubtedly, the field of zero-knowledge (ZK), data science, optimism, and infrastructure will play a significant role in the future. While these areas may not be considered emerging, they serve as the backbone of our networks and are increasingly gaining recognition for their fundamental importance. As more people become aware of what goes on “under the hood,” the significance of these areas will become more widely understood.

What role will decentralized AI play in the Web3 ecosystem, and how might this differ from the centralized AI models that are currently prevalent in many Web 2.0 platforms?

Decentralized AI is the future of intelligent systems, and it’s set to shake up the status quo in the Web3 ecosystem. Unlike centralized AI models that concentrate data control in the hands of a single entity, decentralized AI leverages blockchain technology to distribute data control across a network of nodes, making it a more secure and accountable option. This new era of AI will empower users to take control of their data and will lead to exciting new possibilities, including privacy-focused applications, trust-based supply chain management, and collaborative data sharing. Get ready for a smarter, more equitable future powered by decentralized AI in the Web3 world!

ZK, rollups, and Starkware are gaining a lot of attention in the blockchain space. Looking beyond the hype, what are some practical use cases for these technologies, and how do they differ from each other in terms of performance and security?

I could list countless applications, but I’ll focus on my area of expertise. In the banking sector, decentralized AI can help to solve and streamline complex intra-bank transactions such as repurchase agreements or swaps. I believe that finance is a crucial aspect of the next evolution of our society, and I’d like to give it a special mention. By utilizing zero-knowledge technology, we can reduce or even eliminate fees in the Ethereum network, which will significantly increase the speed and usage of blockchain technology.

What are the biggest challenges businesses in the blockchain space face when it comes to scaling their projects?

Undoubtedly, effective cash flow generation and smart spending during fundraising are key to success. However, it’s important to note that having the right team in place is also critical. The team is the heart and soul of a project, and having the right people with the right skills and experience can make all the difference in achieving success.

How do you evaluate the fundraising and treasury management strategies of different projects? What metrics do you look at, and what red flags do you avoid?

I mainly look for red flags such as lack of transparency or unclear strategies. Key metrics I analyze include burn rate, cash balance, and funding sources, while keeping in mind the project’s goals and market conditions. Sometimes you can also do a quick analysis on the backbone of the project judging their capable and advisors.

Growth hacking is a popular term in the startup world, but how does it apply to the blockchain space? In what ways can growth hacking through organic methods be more sustainable and effective in the long-term, compared to relying on bots for short-term gains?

The term “growth hacking” is broad and can be applied in any industry. In the Web3 space, it involves the constant effort to counteract the use of bots or lazy human effort. To be effective in this context, it’s important to have a sector-neutral understanding of the blockchain sphere and a basic understanding of Web2 marketing approaches.
Bots are not necessarily the enemy, as they can serve a valuable purpose in protection. However, relying solely on bots for growth does not guarantee long-term growth or retention. It’s important to consider a more holistic approach that encompasses genuine engagement and commitment from users for sustainable growth in the Web3 space.

Masterblox offers its own in-house growth hacking solution – tell me more about this?

We have been researching and developing our growth hacking strategies for years now. It takes the efforts of several analysts and 24/7 monitoring to refine our approach. Our track record is something we take great pride in, with successful partnerships with industry giants such as BNB, Chainlin among others. Our techniques have been proven to boost engagement and enhance user acquisition. Our growth hacking strategies have the potential to take a new project from start to finish with ultimate success, or to bring about the resurgence of an industry giant.

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