Erik Voorhees, the founder of ShapeShift, has introduced a new venture called Venice AI, which focuses on privacy in the cryptocurrency and AI industries. Voorhees expressed concerns about the control large tech companies have over AI technologies and advocates for open-source decentralization as a countermeasure. Venice AI offers a privacy-focused generative AI chatbot that does not store user data or have access to user conversations. User input is sent through an encrypted proxy server to a decentralized GPU, ensuring security and anonymity.
ShapeShift transitioned into an open-source decentralized exchange in July 2021, 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. Voorhees shifted his focus towards building a permissionless, decentralized AI model with the launch of Venice AI. He aims to provide users with an alternative choice by offering open-source AI solutions that prioritize privacy.
Venice AI’s model is designed to be more secure than the current status quo, where centralized companies store user conversations tied to their identities. The platform avoids central repositories altogether by storing chat history locally in the user’s browser, allowing users to delete it at any time without creating an account. Venice Pro, a subscription-based service, offers additional features such as unlimited text prompts, removing watermarks from generated images, and turning off Safe Mode for unrestricted image generation.
Although Venice AI does not currently accept digital currencies for subscriptions, Voorhees confirmed that this feature is coming soon. Users holding the Morpheus token will be rewarded with a free Pro account indefinitely. The platform integrates with MetaMask wallets, offering a seamless experience. Voorhees acknowledges concerns about the performance of AI solutions compared to centralized companies and emphasizes the importance of ensuring user adoption by providing quality AI services.
Voorhees’ announcement of Venice AI comes at a time when privacy concerns in the cryptocurrency and AI industries are on the rise. With the growing control of large tech companies over AI technologies, Voorhees advocates for open-source decentralization as a way to counteract potential dystopian futures. Venice AI offers users a more secure and private alternative to existing AI models by avoiding central repositories and providing options for users to delete their data at any time. The subscription-based Venice Pro service offers additional features for users looking to enhance their AI experience.
