peaq, the layer-1 blockchain for DePIN and Machine RWAs (real-world assets), announces the expansion of its ecosystem as Aizel Network joins to transform the AI industry with Web3. Aizel is building a DePIN for running secure, private, and verifiable machine learning models leveraging a variety of technologies to give people more insight into what’s happening under the hood of various AI-powered apps and services. In the longer run, the integration may pave the way for more AI use in critical industries which need utmost transparency and verifiability for their models.

As the AI industry continues to bask in the public spotlight, some of its key flaws prompt uncertainty about just how far the boom could go. The sector’s appetite for electricity is gargantuan, estimated to match that of entire countries like Argentina or Sweden in the years to come. On top of that, security researchers are already exploring various ways of tampering with models and their outputs, which may lead to dramatic consequences in real-world scenarios, from a self-driving car causing an accident to an institutional-grade trading bot crashing an entire economy.

Aizel is building a DePIN for making AI computations trustless and verifiable. It makes every inference — the processing of a specific input by a trained model — more transparent by combining it with a cryptographically-secured set of metadata. The metadata can include the specific model used to produce the output and any other variables, such as the amount of electricity the process had consumed. Aizel taps multi-party computation and trusted execution environments (secure CPU and memory areas) to protect the outputs from tampering. As a result, the user always knows what model produced the output to a desired query, making for more secure and transparent AI applications — without the kind of scaling constraints that comes with using zero knowledge computation for trustless AI.

Tapping the home of DePIN as its layer-1 backbone, Aizel will leverage the peaq SDK to make its network compatible with peaq. As part of the integration, it will deploy the smart contracts powering its core logic, including uploading AI models and user inputs, on peaq. Finally, it will set up a cross-chain module, further connecting its network with peaq, and issue a certain percentage of its token supply natively on the home of DePIN.

“Most of today’s AIs run as closed-off black boxes offering the users little to no insight into what model they are actually interacting with, and how this model produces its insights,” says Jeremy, co-founder of Aizel Network. “This naturally limits their applications in business and beyond. Aizel unlocks verifiable AI for everyone — and peaq’s powerful fundamentals, Modular DePIN Functions, and a vibrant DePIN ecosystem make it the perfect home for that.”

“To call AI a promising industry would be an understatement of how world-changing it is,” says Till Wendler, co-founder of peaq. “But to live up to its full potential and unlock new use cases, it needs transparency and verifiability. Aizel taps the Web3 stack to make that happen, and we’re excited to see it tap peaq as its layer-1 backbone for this important mission.”

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ZUG, Switzerland, May 7, 2024 /PRNewswire/ — FinchTrade, a Swiss liquidity provider in the cryptocurrency sector, is proud to announce its integration with Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain. This strategic collaboration is set to enhance FinchTrade’s service offering, aligning with industry regulations and expanding its capabilities in asset custody.

The collaboration with Fireblocks introduces several key enhancements to FinchTrade’s operational framework:

1. Regulatory Compliance: Fireblocks’ institutional-grade technology enables FinchTrade to generate unique blockchain addresses for each client, a critical feature for Travel Rule compliance, which mandates the collection and sharing of transactional information for AML purposes.

2. Direct Custody Advantage: Fireblocks delivers a specific implementation of self-custody, providing a zero counterparty risk environment with multiple layers of security, meaning funds are never stored in an omnibus account or commingled with any other client funds, therefore eliminating the risks associated with traditional financial custodians. This approach elevates the security of client assets under FinchTrade’s management.

3. Expanded Product Offerings: With Fireblocks, FinchTrade now offers individual client wallets, expanding its services to include crypto asset custody. This enhancement allows clients to store assets, execute conversions between cryptocurrencies and fiat, and make payments — all from within their FinchTrade account, without the need for external third-party services.

4. Network Integration: By joining the Fireblocks Network, FinchTrade gains direct connectivity to a global network of over 1,800 trusted financial institutions, liquidity partners, trading venues and counterparties for secure transfers and payments.

“Collaborating with Fireblocks is a game-changer. It fortifies our commitment to IT security and enables offering a diversified service portfolio,” said Yuri Berg, Board Member of FinchTrade.

“We’re pleased to be working with FinchTrade to offer greater connectivity and security for their trading platform tailored to their clients’ needs. This collaboration highlights our mutual dedication to industry-leading security and operational efficiency, and we look forward to our continued efforts to advance the digital assets space together,” said Stephen Richardson, Managing Director, Financial Markets at Fireblocks.

The integration with Fireblocks positions FinchTrade at the forefront of digital asset security and compliance, ensuring that the company remains a trusted partner in the evolving world of cryptocurrency trading.

About FinchTrade:

FinchTrade is a Swiss-based liquidity provider specialising in cryptocurrency trading solutions. With a commitment to security, compliance, and innovation, FinchTrade offers seamless liquidity services to a global clientele.

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ChainSwap, the pioneering multi-chain decentralized exchange (DEX), has unveiled a groundbreaking feature that sets a new standard for decentralized finance (DeFi). Today, ChainSwap proudly announces the launch of its intra-chain swap capability, a monumental advancement in enabling seamless transactions across six major blockchain networks.

As the first of its kind, ChainSwap empowers users with the ability to seamlessly swap assets within the same blockchain, enhancing user retention and eliminating the need for multiple wallets across various chains. This revolutionary development revolutionizes the DeFi
landscape, offering users unparalleled freedom to traverse across different chains within a single platform.

ChainSwap stands as the epitome of decentralization, providing a one-stop-shop solution for multi-chain swaps. Powered by cutting-edge Cross-Chain Interoperability Protocol (CCIP) technology, ChainSwap ensures smooth and secure transactions across all compatible
blockchains, including Optimism, Ethereum, Arbitrum, Avalanche, Polygon, and Base.

With the launch of ChainSwap’s intra-chain swap functionality, users can now effortlessly exchange assets within their preferred blockchain, heralding a new era in digital asset transactions. This monumental achievement marks a significant milestone in the evolution of decentralized finance, propelling ChainSwap to the forefront of the industry.

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