TraneAI looking to raise $50m in its token sale


AI development platform TraneAI is offering a $50m token sale, to support the platform growth.  

New York-based TraneAI is an ecosystem designed to accelerate AI training processes through its decentralised network. Through the platform users are able to distribute the processing tasks through to crowd-miners, proof-of-performance, storers and GPUs.

The tokens, which is based on the Ethereum blockchain, allows those who tag, store and model data for AI’s to exchange tokens as they work together developing AI capabilities.

TraneAI’s TPAI token crowdsale will launch on 18TH September, for three weeks. Currently there is a pre-sale underway.

The company will use the funds to build out the platforms ecosystem around the world to help participants to collaborate on AI development.

TraneAI co-founder Tomer Dicturel said, “The TraneAi platform demonstrates how TPAI creates a valued-based ecosystem on the blockchain. TPAI functions as a layer on top of an innovative AI system that uses machine learning to verify transactions across the network. This sits on top of a proven, decentralized blockchain-based storage network powered by IPFS storage infrastructure.”

Through the platform, Dicturel plans for it to be used to create AI products for the unexplored applications in finance, healthcare and manufacturing. As well as this, he also expects it to help small businesses with their less grandeur goals.

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