Fundamental property of web3 is low switching cost. No need to call and cancel things, no lock on single entity, block producer, wallet provider, DeFi protocol.
Global commerce is slowed down in many ways trying to prevent fraud, crime and poor service.
While noble this creates over 500B in legal spent directly attributed to commercial transactions. It slows down business and increases cost of products.
New way of doing business is coming - binding agreement between parties that is constructed and adjudicated by AI. Settled onchain, allowing for composing financial instruments (like trade finance).
Creating a better commerce infra for businesses and agents is what NEAR Intents is working toward.
DCML is actually a set of technologies built by different teams coming together: - TEEs for CPU and GPU by @PhalaNetwork - Proof of Response built by Martian Engineering - Key reconstruction via MPC by Near One - Model marketplace and Benchmarking by Stealth - Agent Hosting by Stealth
And more joining.
User Owned AI is built by coalition of vision aligned teams and I’m excited for the work in trenches that has been happening.
Looking forward to @EthCC – I'm speaking in the AI track on 3 July. We'll have a big showing from the @NEARProtocol eco and are proud to sponsor again this year! À bientôt, anon
Exciting to see @NEARProtocol as the subject of a case study in @HarvardBiz: "Self-Sovereignty In the Age of AI" by Prof. Shikhar Ghosh. It unpacks the story of starting the protocol and the vision for blockchain + AI.
Link (paywall): https://store.hbr.org/product/near-protocol-self-sovereignty-in-the-age-of-ai/825115
Blink and it’s final: NEAR blocks are now 600ms, with 1.2 second finality. That’s 10x faster finality than Solana. 600x faster than ETH and L2s. Without the need for more expensive hardware.
This is a major upgrade that truly sets a new performance standard for blockchains. Now you don’t have to choose between a fast chain and a secure chain: NEAR is both.
Fast blocks and fast deterministic finality means virtually no wait time for blocks to become irreversible. Better UX, stronger reliability, and greater confidence for real-world apps & enterprise use cases.
Build user experiences where multi-step transactions can finalize in seconds. Reduce wait times and complexity around tx confirmations, reorgs, and network delays.
In a Chain-Abstracted world where agentic interfaces will further abstract blockchains away from users, it’s an easy choice of where to build: just build on @NEARProtocol. It’s secure, super-scalable, truly multichain, and really really fast. I’m proud of the Protocol team for continuing to ship the best tech in Web3!