VAIOT, the first-ever regulated crypto project in Malta, was founded in 2018, and launched the Proof of Concept project in collaboration with IBM during Q4 2019 – Q1 2020.

VAIOT combines AI & Blockchain to develop IVAs – Intelligent Virtual Assistants, for both consumers and businesses. The main difference between VAIOT and Siri or Alexa is that VAIOT was created to digitise business processes such as buying insurance or creating legal agreements.

The project offers a brand new digital channel for the distribution of products and services and communication with consumers and the building of personal AI legal, contracts and transaction assistants providing legal services, including digital, blockchain-based contracts.

The blockchain plays a vital role in both the solutions offered by VAIOT and the overall ecosystem with use cases ranging from recording contract and insurance policy data on-chain in addition to using the VAI Token economy to incentivise the utilization of such products. As a result, VAIOT solutions are supported by a token economy based on VAI Tokens, encouraging the use of Intelligent Virtual Assistants due to incentives such as the Payback Program fueled by VAIs.