It’s well known that there exists a plethora of factors that help legitimize projects in the blockchain and cryptocurrency space. Such factors range from fundamentals, team competency, as well as a strong foundation. Even though this statement is commonly agreed to be true, the blockchain market environment often demands much more for a project to stand out as a legitimate contender in the space.

What other factor does the blockchain space often react to? The answer is partnerships.

If you’ve spent any amount of time analyzing the cryptocurrency market, you know that partnerships are a huge deal. We’ve seen partnerships in the cryptocurrecy space move markets, garner mainstream attention, as well legitimizing a project. Even more than that, partnerships can help blockchain projects achieve the ultimate end goal; mass adoption.

Before discussing Matrix’s partnership with Bitgrit, let’s first get acquainted with the two!

What is Matrix AI Network?

“Matrix AI Network is a platform which incorporates blockchain and AI to enable the realization of the Intelligent Blockchain. The use of AI allows innovations such as natural-language smart contracts (Intelligent Contracts), continual network optimization, formal contract security verification, and much much more. — Matrix AI Network”

Due to Matrix’s unique position in blockchain and artificial intelligence, Matrix is able to offer a mosaic of solutions for any such partner or industry that may benefit from these fields. Matrix’s technology is currently being used by a plethora top tier entities in a verity of fields such as clinical diagnosis, data analytics, image detection, and structural modeling among many other areas of utilization.

What is Bitgrit?

“Born in Asia and now expanding across the globe, Bitgrit is a platform connecting data scientists, data providers, and corporations involved with AI technology.

The Bitgrit platform is composed of two elements: a data scientist community platform and a global marketplace that allows companies to access AI technology created by the Bitgrit data scientist community. Blockchain technology powers these services, allowing the Bitgrit ecosystem to quantify and democratize the value of artificial intelligence in a transparent way. Through these resources, Bitgrit strives to realize an AI marketplace functioning as a decentralized “Cloud Brain.”

How does the Bitgrit marketplace work?

We can visualize the Bitgrit platform as a place filled with data scientists, AI related entities and providers, as well as blockchain entities providers. “Firms with AI-related needs can submit a summary of their request, to which data scientists and data providers collaborate, provide solutions, and get compensated with GRIT: our security token. Bitgrit’s end goal is realizing a decentralized AI network where different AI experts and providers can interconnect with one another.”¹

Matrix and Bitgrit

In March of 2019 Matrix and Bitgrit “signed a strategic cooperation agreement covering data sharing, technical support, community development and more. Bitgrit’s large existing database and high-quality data scientist community will promote Matrix AI Network applications and aid in the training of Matrix’s AI algorithms. In turn, Matrix’s AI algorithms will increase the breadth and depth of Bitgrit’s platform. In terms of community development, Matrix and Bitgrit will focus on building shared communities in China, Japan and Southeast Asia.”²

In the second half of 2019, Matrix and Bitgrit are expected to build a big data platform and an artificial intelligence computing platform to jointly develop markets in India, Malaysia, the Philippines and the Middle East.

Final Thoughts

Upon seeing the expertise and resources of Matrix and Bitgrit, a strategic partnership between the two only seems natural. Given these facts, we can be sure that both Matrix and Bitgrit can symbiotically benefit with this new, fruitful partnership.