The HUMAN Protocol Foundation and Elrond Network blockchain platform teamed up to reinvent how humans and machines interact.
They are creating a blockchain-based marketplace that would connect the world’s freelance workforce with limitless demand for human annotation of raw data by the companies building AI systems.
This new collaboration aims to contribute to the progress of machine learning and create more job opportunities globally.
New Generation of Gig Economy
The HUMAN Protocol is a decentralized platform where requesters can crowdsource people to perform tasks that help bolster machine-learning networks. Artificial intelligence is not so good at identifying specific content, so that’s where humans come in earning the Human’s native token (HMT) and helping in the process of machine learning.
Over the past decade, the gig economy had grown exponentially, especially skyrocketing during the pandemic when freelancing generated $1.2 trillion only for the US economy.
By providing new opportunities, the gig market has its obvious downsides. Most workers do not receive the benefits of employees; the fly-by nature of work provides less financial security, not to mention the risks of not getting paid.
HUMAN Protocol addresses this by creating a blockchain-based infrastructure for distributed labor markets, which is decentralized, accessible, and entirely safe. All transactions are secured within the smart contracts, and workers’ qualifications are being checked.
Decentralization of labor
By supporting the creation of these marketplaces, HUMAN Protocol is working to democratize access to labor and ensure a better distribution of value for tasks completed, including, but in no way limited to, data labeling and data feedback.
Data labeling tasks can require visual inferences and detailed observations and feedback, such as the identification of a malignant tumor, a car part, a line of code, or the cultural-specific interpretation of a piece of clothing.
The variety of tasks dramatically expands the gig economy to accommodate a greater variety of backgrounds, as previously, the gig economy is mainly composed of blue-collar jobs, such as driving cars or delivering packages.
HUMAN Protocol aims to create workforces liberated from centralized control, untied to any single company or market, that workers of any background, based anywhere in the globe, can access a global marketplace of opportunities.
Scalable blockchain platform
Previously launched on the Etheureum blockchain platform, HUMAN Protocol faced challenges in operating on a big scale. To secure its mission of creating a genuinely global job marketplace, Foundation started collaborating with a different blockchain platform.
“The Elrond Network throughput can make HUMAN Protocol operate as we originally envisioned by allowing us to enable features for which there was no blockchain bandwidth.
Elrond’s capabilities have captured our imagination for new features and designs. Elrond’s technical brilliance can unhinge the potential of the Protocol; this kind of innovation can help us as we seek to transform the way humans work.” said Harjyot Singh, Technology & Crypto Director at HUMAN Protocol.
The Elrond’s Network is a highly scalable, fast, and secure blockchain platform built for internet-scale, which is currently capable of processing 15,000 transactions per second and can scale beyond 100,000 TPS.
Also, it is carbon negative by offsetting more CO2 than it accounts for, meaning that every transaction on Elrond has a positive impact on the environment.
The Elrond Network’s high throughput, low latency, inexpensive transfers, rich features, and sustainability equips the HUMAN Protocol with the capability to onboard hundreds of millions of users into decentralized work pools and dispense billions of rewards micropayments.
Accelerating Machine Learning
Machine learning is currently applied to approximately 1% of the problems it could efficiently solve.
The reason is current workflows, where machines need human inputs. Still, human beings should not manually select and curate what is required to reach a particular accuracy target.
The creators of HUMAN Protocol believe that machines should be able to ask people and other machines for the data they need to improve and maintain inference quality.
HUMAN Protocol enables the world’s largest providers of human-generated labels to help AI companies build, train, and test machine learning models.
Foundation is on a mission to usher in the next evolution of machine intelligence. Focused on teaching computers to be more human, the Foundation democratizes access to machine learning technologies.
“With hundreds of millions of people powering through the immense workload required for training neural networks, the field of machine learning is set to make enormous progress. We’re excited to contribute the Elrond Network capabilities to the HUMAN Protocol mission and establish a global network of workers operating at an internet scale,” said Beniamin Mincu, Elrond Network CEO.
Why should I care?
- HUMAN Protocol addresses the issues of efficiency in machine learning by innovating AI technology. Learning from as many humans as possible will be critical to AI’s development and is vital to training machine-learning algorithms.
- Teaching machines to be more human can accelerate the adoption of AI technology.
- HUMAN Protocol Foundation is creating a decentralized, safe, and fair marketplace where anyone can request and contribute virtual work within the world’s largest labor pool.
- The Elrond’s Network blockchain platform solved the scalability problems of Ethereum and could be the next big thing in the crypto verse.
On The Flipside
- HUMAN Protocol is entering the market with vast competition among platforms providing freelance jobs, fighting for the same pool of freelancers.
- HUMAN Protocol will have to position well its unique value proposition to consolidate its position in the market.
- People from diverse backgrounds participate in the gig economy, so an ambitious goal to a global marketplace will require educating and growing their potential user base.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7] You can always unsubscribe with just 1 click.
