Arthur Hayes Teams Up with Ritual: A Decentralized AI Platform

• BitMEX Co-founder Arthur Hayes Joins Decentralized AI Platform Ritual
• The future of AI and its decentralization
• Hayes' role in Ritual's existing board of advisors

BitMEX Co-founder Arthur Hayes Joins Decentralized AI Platform Ritual

Arthur Hayes, co-founder of BitMEX, has become a part of Ritual, a decentralized artificial intelligence platform. His goal is to assist in the financialization of the AI industry. Ritual's platform is known for its refined AI models and an API layer that provides users with access to those models. In November, Ritual managed to secure $25 million in funding and Arthur Hayes is now joining the platform as an advisor.

The future of AI and its decentralization

Decentralization is a key feature of AI. The technology's future depends on its capacity to maintain independence from a select few powerful tech corporations that have current control over each input and output. Arthur Hayes expressed enthusiasm about joining the Ritual team as an advisor. His aim is to facilitate access to a more resistant to censorship and collaboration-promoting technology for the rapidly expanding AI economy.

Hayes' role in Ritual's existing board of advisors

Hayes is joining Ritual's already existing board of advisors. Other notable members of this board include Illia Polosukhin, co-founder of NEAR Protocol$3.64 -5.31%, Sreeram Kannan, founder of EigenLayer, and Tarun Chitra, CEO of Gauntlet. Hayes holds the role of the chief investment officer of Maelstrom, a family office. He is also remembered for co-founding the cryptocurrency exchange BitMEX, which was the pioneer platform to introduce perpetual swaps. Perpetual swaps are a special type of derivative that unlike regular futures, never expire.

Edited by Jonathan Stoker