2019 Startup Elevate Startups - TechXLR8
Worldfree Software Corporation, Ltd, develops and markets a sophisticated AI-interfaced, digital currency called the FreeMark, which is primarily a better medium of exchange than fiat currencies for global transactions.
The FreeMark is unique as a digital currency because it is stable—not with respect to fiat currencies—but to the physical world by a pegging to the price of 20 commodities. Because most goods are made of raw materials, and most raw materials are commodities, the FreeMark has a price that is more stable with respect to the goods humans use to satisfy their living needs, and consequently more stable relative to services they may buy as well. This has the benefit of providing protection to owners’ wealth from inflationary devaluation of their currency. Too often the purchasing power of wealth declines drastically in countries that experience or are threatened by inflation, and the FreeMark provides asset protection for people in these jurisdictions.
The Company uses two proprietary technologies, the Nodechain®, which is a more scalable, faster and efficient blockchain-type technology, and an Artificial Intelligence (AI) technology called Natural Language Reasoning (NLR) that was already in commercial use, purchased by companies such as P&G, Baxter Healthcare, and Northrup Grumman. NLR uses the ability to reason from natural language that facilitates rational control through voice dialogue on mobile computing devices, delivering intelligent dialogue with direct answers from live, unstructured sources of knowledge, including the FreeMark fintech application.
Worldfree was the first technology incorporating genuine intelligence in systems using semantic (meaning-based) reasoning. Worldfree leads the market for NLR with the FreeMark fintech application, for mobile and vehicle access to personal and business financial knowledge, which requires direct answers and rational dialogue expressed in voice while travelling or when reading is impractical or not possible.
Worldfree earlier introduced an application called KnowAll, which delivered direct answers to normal questions, and was adopted by many G500 companies for direct-answer searching with natural language. KnowAll’s reasoning capability is actually better than humans’, and able to store an infinite chain of reasoning that it comprehends from text. This allows better, more precise rational performance enhancement. The new theories of deduction, lexicology (meaning) and symbolic representation were developed by the founder of Worldfree, and shown in a book as combined to form a unified, historically distinct theory of knowledge.
“In my opinion, Worldfree’s technology is unique and a genuine advance in the Artificial Intelligence field. Worldfree technology allows computers to reason from natural language in real time, and presents many opportunities for improving the computer-human interface that were not possible with previous technologies”.
John J. Rosati
Board of Trustees, UCLA Foundation, UCLA Cognitive Science Advisory Council and Advisory Board of the Computer Science Department
Venture Partner with Triangle Venture Capital Group, DE