Summary: Arthur Hayes, co-founder of BitMEX, has recently joined Ritual, a decentralized artificial intelligence platform, with the vision of revolutionizing the financialization of the AI industry. As an adviser, Hayes aims to ensure that the AI economy has access to a more decentralized and censorship-resistant technology than the current industry giants provide.
Ritual’s platform offers AI model fine-tuning and an API layer to facilitate user access to these models. With $25 million in funding raised in November, Ritual has already gained momentum in the market, and Hayes’ involvement further strengthens their advisory board.
Hayes believes that decentralization is crucial for the future of AI. Instead of relying on a few powerful tech giants who control every aspect, the technology must assert its independence. By joining Ritual, Hayes aims to play a pivotal role in paving the way for a more inclusive and collaborative AI economy.
In addition to his role at Ritual, Hayes currently serves as the chief investment officer of Maelstrom, a family office. He is widely known as the co-founder of BitMEX, a cryptocurrency exchange that pioneered perpetual swaps, a type of derivative that does not expire like regular futures contracts.
Ritual’s board of advisers already includes esteemed industry experts such as NEAR Protocol co-founder Illia Polosukhin, EigenLayer founder Sreeram Kannan, and Gauntlet CEO Tarun Chitra. With Hayes joining their ranks, Ritual is poised to make significant strides towards reshaping the AI industry and driving innovation that benefits a broader spectrum of participants.
In conclusion, Arthur Hayes brings invaluable expertise and insight to Ritual, as he intends to champion decentralization and collaboration in the AI industry. With his extensive background in cryptocurrency and finance, Hayes is well-positioned to contribute to the financialization of AI and propel the industry into a more inclusive future.
The source of the article is from the blog publicsectortravel.org.uk