Halliday raises $20 million to build AI agents that operate safely on blockchain

Hey folks, big news today about the intersection of artificial intelligence and blockchain. This isn’t just about small changes. We’re talking potentially game-changing progress in digital autonomy.

Halliday secured $20 million in Series A funding. They’re developing AI agents that operate safely on blockchain networks. No need for traditional smart contract development. Andreessen Horowitz’s crypto arm led this round, boosting Halliday’s total funding to over $26 million.

This investment shows confidence in Halliday’s approach. They’re solving a puzzle in AI: how to deploy autonomous agents in decentralized environments safely. Mistakes here can be financially devastating and permanent.

”AI on blockchain has remained inaccessible due to compliance and safety concerns,” said Griffin Dunaif, CEO of Halliday. “Smart contract development for AI agents can make them vulnerable. Minor mistakes can cause breaches. For AI to work onchain, we need robust safety infrastructure. Businesses should oversee AI-enabled automations.”

How Halliday’s safety protocol makes AI agents viable for enterprise blockchain applications

The core innovation is their workflow protocol. It creates “immutable guardrails” for AI agents on blockchain. These guardrails ensure systems do tasks within set limits, avoiding problems or misuse.

This method tackles a big issue in AI development: how do we let autonomous agents interact with financial systems and digital assets while staying secure and compliant? By embedding safety constraints in the protocol, Halliday aims to build trust in AI agents for enterprise applications.

AI-powered treasury management and B2B automation already in production

Halliday has already deployed their tech. AI-enabled workflow engines are already in use with high-profile partners. Their agents automate complex tasks like treasury management, recurring payments, and B2B transactions. These systems work across multiple blockchains while following rules.

”Halliday handles integrations like bridges, DEXs, data translation, and multi-chain execution,” Dunaif said. “Teams can make breakthrough apps in hours, not years.”

Enterprise AI adoption accelerated by removing blockchain programming barriers

For businesses, Halliday’s tech lets them use blockchain and AI agents without special teams. Security risks from smart contracts are minimized. This could fast-track AI use in financial services. Companies interested in autonomous systems have been cautious due to security. Dunaif believes Halliday offers a “10,000x development cost reduction.” This might shift AI-blockchain projects from costly to affordable.

”There’s an opportunity beyond web3,” said Dunaif. “We’re bringing our workflow protocol to fintechs and banks wanting to enter the crypto arena.”

Will safe AI agents unlock the next wave of enterprise blockchain adoption?

AI and blockchain have long promised exciting business models. Autonomous agents can execute financial transactions without humans. This could cut costs and create new services. Yet, rogue AI agents or exploitable code has limited enterprise uptake.

Halliday’s plan is to create middleware for security and execution, so businesses can focus on AI logic. This separation could open AI-blockchain integration to more businesses. “We’re extending Stripe’s technology for developers creating their blockchains,” explained Dunaif.

The future of enterprise AI: automated workflows replace manual processes

With the new funding, Halliday will speed up its AI workflow protocol development and expand its team. Already, they have talent from leading tech firms. A first-party app on this protocol shows AI agents simplifying processes. It’s an end-to-end payments solution managing blockchain complexities, easing new user entry.

”Delegating workflows to autonomous systems safely,” said Dunaif. “Teams can build breakthrough apps quickly.” As companies explore AI to streamline operations, Halliday’s focus on safety and compliance might be key for mainstream adoption.

Frequently asked questions

What are the benefits of AI-enabled treasury management?

AI-enabled treasury management has significant advantages. First, it streamlines financial operations by automating repetitive tasks. This can include cash management, forecasting, and reporting, leading to increased efficiency and accuracy. The system reduces human errors and helps in making data-driven decisions.

Additionally, AI in treasury management can contribute to better risk management. Artificial intelligence can quickly analyze a vast amount of data, identify patterns, and predict potential risks. These insights help businesses in making informed decisions and preparing for potential volatility in financial markets.

How does blockchain enhance AI security?

Blockchain enhances AI security by providing transparency and immutability. In blockchain, every transaction is recorded in a distributed ledger. This ensures that once data is entered, it cannot be altered without consensus. Thus, it protects against unauthorized changes and fraud.

This transparency builds trust, as participants can verify data themselves. It also fosters accountability. Blockchain’s decentralized nature prevents single points of failure, reducing the chance of hacking. Combining AI with blockchain creates a robust framework for secure AI operations. This pairing could be crucial as industries embrace AI-driven processes.

Summary

Halliday is making headway with AI agents operating safely on the blockchain. Their solutions tackle the challenges of compliance and security, allowing businesses to innovate without worry. As AI and blockchain continue to converge, the potential for new business models grows. Halliday’s path could lead to wider adoption of these technologies in everyday financial processes. Keep an eye out for further developments in this exciting space.