Erik Voorhees, ShapeShift Founder, Unveils Privacy-Focused AI Platform ‘Venice’
Erik Voorhees, the founder of popular cryptocurrency exchange ShapeShift, has unveiled his latest venture called “Venice AI.”
The new platform introduces a privacy-focused generative AI chatbot, addressing the growing concerns surrounding privacy in both the cryptocurrency and artificial intelligence (AI) industries.
In the announcement, Voorhees expressed his worries about the direction of AI, stating that he observed a trend where large tech companies, closely aligned with governments, are gaining control over AI technologies.
He said that this could lead to a dystopian future and advocates for open-source decentralization as a countermeasure.
Voorhees aims to provide users with an alternative choice by offering open-source AI solutions.
Back in 2014, Voorhees launched the ShapeShift cryptocurrency exchange.
However, in July 2021, the exchange announced its transition into an open-source decentralized exchange (DEX), with control being transferred to the ShapeShift DAO.
Following a battle with the Securities and Exchange Commission, ShapeShift agreed to pay a fine and comply with a cease-and-desist order, leading Voorhees to shift his focus towards building a permissionless, decentralized AI model.
Announcing Venice
Today, we launch private, permissionless AI for the purpose of unfettered civilizational advancement: https://t.co/m2jsJuDuXS
Full announcement:https://t.co/lPIDpgI9K1@TryVenice
A thread…
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— Erik Voorhees (@ErikVoorhees) May 10, 2024
Venice AI, the latest product from Erik Voorhees, prioritizes user privacy. It does not store user data or have access to user conversations.
Instead, user input is sent through an encrypted proxy server to a decentralized GPU, which runs the AI model and returns the answer.
This process
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