Prove AI AG, a provider of AI governance solutions, has announced a strategic shift to build its flagship product exclusively on the Hedera network. This transition is meant to improve the governance of AI through providing unquestionable, secure handling of the training data of AI. The decision is made as usage of AI increases, leading to higher importance of compliance and governance.
The platform will provide organizations with the tools needed to manage multi-party access to AI training data, automate compliance, and maintain an auditable, tamper-proof data store.
Prove AI Launches On Hedera To Offer Secure AI Training Data
Prove AI which was previously Casper Labs, had created the platform on the Casper blockchain network. However, the company opted to move to Hedera, due to what it termed as an enterprise-grade blockchain solution and decentralized governance.Â
The Hedera network is governed by a council of up to 39 leading institutions including Fortune 500 corporations, universities, and non-profits.
According to Mrinal Manohar, the CEO of Prove AI, the organizations require more visibility and control of the data that feeds into their AI systems. “Hedera’s demonstrated focus on providing a reliable, blockchain-based network for enterprises aligns with our vision at Prove AI,” said Manohar, noting that Prove AI can now leverage Hedera’s capabilities to issue tamper-proof credentials and automate compliance for AI solutions.
Ensuring Compliance with AI Regulations
With increasing global regulatory scrutiny on artificial intelligence, businesses are seeking solutions that ensure compliance with emerging standards, such as the EU AI Act and ISO 42-1. Prove AI’s platform will automate key compliance checks, such as monitoring whether artificial intelligence systems expose users to high or unacceptable levels of risk.Â
By leveraging Hedera’s public-permissioned blockchain model, Prove AI provides real-time data auditing and transparent governance of AI datasets.
Organizations using Prove AI will be able to securely manage and revoke access to AI training data while maintaining an immutable record of all changes. This ensures accountability for regulators and boosts trust among end users. The platform’s tamper-proof nature, made possible by Hedera’s technology, will help businesses avoid potential compliance risks while enabling them to scale their AI operations responsibly.
Hedera’s Role in Artificial Intelligence Governance
Hedera has decentralized its governance and this coupled with the low transaction fees means that it could be a good candidate for the governance of enterprise level AI solutions. Charles Adkins, President at Hedera, extended a warm welcome to Prove AI into the Hedera ecosystem emphasizing the need for risk management as the adoption of AI increases.
“Prove AI brings a level of trust to artificial intelligence systems through its immutable database, which aligns with our mission to provide a secure foundation for enterprises,” Adkins said.
In the future, as Prove AI progresses with its AI governance platform on Hedera, it plans to contribute to companies by offering traceability of AI training data to promote the right use of AI in business operations.
Following Prove AI’s announcement, Hedera’s native token, HBAR, dipped slightly by 2.14%, with the token trading at $0.052193, and a 24-hour trading volume of $47 million. Meanwhile, Canary Capital earlier this month launched the first US-based HBAR trust, sparking speculation about the possibility of a Hedera ETF. This move is expected to attract institutional investors, further strengthening Hedera’s position in the market.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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