Toda.Network CEO: The Future of Decentralized Alternatives

- August 19th, 2019

Toufi Saliba, co-founder of Toda.Network, spoke with INN about the future of AI at the Blockchain Futurist Conference in Toronto.

Toufi Saliba is a serial entrepreneur who has created over a dozen startups, including Toda.Network, his most recent pursuit.

Established as a decentralized autonomous platform, the Toda.Network is built off of the Toda.IP Protocol, which provides developers with roads to better develop blockchain technology.

A blockchain protocol is a consensus method, or algorithm, that dictates how a blockchain is validated. Typically protocols are organized across several layers.

 

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Where the Toda.Network protocol distinguishes itself is that it is not reliant on third parties, including miners, servers or cloud computing. Instead, it is a communication layer protocol. Additionally, it is not based on inflationary methods, which is the case with many security tokens or coins.

Speaking with the Investing News Network at the Blockchain Futurist Conference in Toronto, Saliba discussed the Toda.Network and the future of blockchain and decentralized artificial intelligence (AI).

As the conversation circled to disruption, Saliba shed light on the transformative potential of blockchain.

“The only way you can prevent a certain disruption is by either helping (to manifest) it or trying to build certain measures where you can shape it to be a better world after that tsunami,” he told INN.

Under the Toda.Network umbrella is the Toda.Protocol, which allows developers to scale blockchain applications on its platform. Its consensus algorithm is based off of deterministic distributed computing, which drives the proof-of-work system within the network. The system is interoperable and smart contracts can be executed immediately.

Fundamental to the Toda.Protocol design is its decentralized governance structure, and Saliba discussed how centralized governance structures could have significant implications in the future. He pointed in particular to AI, questioning the impact that a central government or a company like Microsoft (NASDAQ:MSFT) could have.

AI is anticipated to enter our lives at a greater scale sometime in the future, he cautioned. “Imagine that moment is coming but yet that machine is centrally controlled by somebody.”

By comparison, decentralized AI networks are managed and controlled by a larger network or ecosystem. Instead of a central authority, such as Google (NASDAQ:GOOG), Microsoft or IBM (NYSE:IBM), all companies that are rapidly gaining a greater market share of AI systems, the Toda.Protocol network would be run autonomously.

“(AI) does exactly what it was designed to do and nothing else,” Saliba said. “Nobody can change it.”

According to Forbes, decentralized, autonomous AI systems can serve a number of use cases, leading the way towards artificial general intelligence. To that end, the nature of the intelligence would be influenced by a larger ecosystem, as opposed to a small number of players.

In addition, a security layer would be inherent to its design, embedded in the democratic system, preventing any covert  or malicious intent.

“This isn’t something that you can ever reverse,” Saliba said when discussing AI systems and how their impact on future generations is unforeseeable. Urging individuals to act, he expressed skepticism about centralized control. Decentralized AI systems serve as one possible vessel to counter any unwanted outcomes in the future of AI.

When it comes to the blockchain industry specifically, he noted that he is ultimately viewing it from a long-term perspective.

For Toda.Network, Saliba said that he aims to connect companies and partners who are interested in building on its platform.

“I connect (investors) with those CEOs and get them in and they can shake hands,” he explained. “They can sometimes write contracts; they can do whatever they want to do.”

Saliba concluded by suggesting that the future holds several possibilities for blockchain and AI.

“This is no longer 2010 to 2015, where things are so old, ledger based, with a lot of friction,” he said. “We are approaching the point of no return, where everybody is getting crypto-fied.”

With files from Georgia Williams

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Securities Disclosure: I, Dorothy Neufeld, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

 

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