Exploring Qubic's Vision: Eric Fung Discusses the Integration of AI, Oracles, and Smart Contracts in the Next Blockchain Era

In this interview, Eric Fung , the APAC Growth Lead at Qubic In this insight, he shares Qubic’s forward-thinking approaches and pioneering technologies. With a focus on their quorum-based protocol and the incorporation of AI and oracles, Fung delves into how Qubic aims to advance various industries and transform decentralized finance, shaping the future of AI accessibility on a global scale.

What distinguishes Qubic's quorum protocol from conventional consensus methods in blockchain technologies?

Qubic functions as a quorum-based computing blockchain, meaning any network modifications necessitate a quorum approval. Specifically, 66% of total mining power along with a significant pool of computers must agree on changes, whether they pertain to smart contracts, network framework, or economic shifts.

What could be the ramifications of integrating smart contracts with oracles in Qubic’s framework?

This integration allows our artificial intelligence to utilize real-world data much more effectively. We are actively seeking additional data providers to ensure this information flow. It enables our AI to comprehend global developments and function independently. Thus, the melding of oracles and smart contracts leads to a higher degree of automation. In this context, our AGI—Artificial General Intelligence—becomes capable of independently addressing challenges.

Considering Qubic’s distinctive attributes, which sectors could see the most significant advantages from this technology, and why?

Various industries, such as healthcare, transportation, and scientific research, stand to gain substantially from Qubic's innovation. We particularly emphasize the medical sector due to its potential to achieve breakthroughs that can profoundly impact humanity and enhance our AGI capabilities. This field presents opportunities for meaningful advancements that sync with Qubic’s overarching goals.

How will the convergence of oracles, smart contracts, and AI within Qubic influence the future of decentralized finance applications?

The influence is quite significant. By leveraging AI for smart contract automation, the system can react proactively to a range of market signals. This flexibility is vital for both technological progress and adapting to financial market dynamics. Unlike existing trading bots that overlook fluctuating market conditions or emotional trading aspects, our AGI is designed to integrate these factors, offering a more nuanced approach to finance, peer-to-peer dealings, and trading.

What security implications arise from Qubic’s quorum protocol, and how does it tackle standard blockchain vulnerabilities?

While we're still fine-tuning this feature, the fundamental principle is that the data remains under the control of the user. Qubic will manage computational processes but not data storage, which stays with the user. This design addresses crucial privacy and security challenges. As we continue to develop, more information will be made available in our upcoming white paper.

Can you clarify how Qubic’s anti-military license operates? What are the potential advantages or disadvantages associated with this policy?

We aim to democratize access to AI technologies. Many regions lack direct access to AI tools like ChatGPT or Google Gemini without using VPNs. Our open-source license is crafted to ensure universal availability of AI technologies, as long as it does not pose risks to humanity. This means military personnel or military applications are excluded. We prioritize inclusivity and ethical use.

What role do Qubic’s Oracle machines play? How can they enhance the functionality of smart contracts?

That’s an insightful question. Smart contracts serve as automated agents, executing specified conditions, while oracles are crucial in relaying real-world data needed for these contracts to operate seamlessly. Oracles provide crucial external input to the blockchain, activating various functionalities within the smart contracts. With AGI included, these systems are poised to make smarter, more informed decisions, thus steering users more effectively.

How does the requirement for a supermajority of computers to validate transactions and smart contracts influence the network's integrity?

The quorum protocol mandates that 66% of computing power—specifically, 451 out of 676 validator nodes—must concur on significant updates. This design ensures robust security, as a substantial majority is needed to sanction any changes. Unlike Bitcoin's 51% proof-of-work method, which relies heavily on miners, our approach necessitates a supermajority of independent computers, making it considerably harder for singular entities to exert dominance, thereby enhancing security.

Can you explain how Qubic's smart contract IPO model encourages developers to create beneficial applications on the platform?

The IPO model for smart contracts empowers anyone with Qubic tokens to invest in emerging contracts. They can place bids on smart contracts, and if these contracts yield profits, they receive a portion of those returns. For instance, if a smart contract levies a 1% fee per transaction, the investors—those with stakes in the contract—will earn a share of this revenue. This model decentralizes the ownership of smart contracts, nurturing a thriving Web3 ecosystem.

What exactly is Aigarth, and what is its purpose?

Aigarth represents our AI system, with the name derived from 'AI' and 'Garth,' suggesting a garden. This serves as a metaphor for a rich variety of AI types—some beneficial, others less so—that grow and evolve together. Our founder envisions Aigarth as a repository of AI tools that, over time, may develop sentience. This diverse ‘garden’ perspective allows us to explore a wide array of AI applications and experiments.

Can you tell me about Qubic’s plans?

Our ambition is to ensure AI accessibility for all. We have an extensive roadmap that includes expanding our presence on more platforms, incorporating additional oracles and smart contracts, and growing our team. We are actively recruiting and inviting more developers to join our community. Additionally, we support innovative ideas through a strong grant program that focuses on initiatives like staking and building new applications. Our global expansion continues, particularly in Asia and North America, as we work to enhance our international presence.