ELA Coin Whitepaper

World-renowned cognitive scientist Douglas R. Hofstadter published 40 years ago in 1979 “Godel, Escher, Bach: An
Eternal Golden Braid,” a widely-read classics in the field of studying intelligence itself. He mentions the “Strange Loop”
found in meaningless symbols. While describing the formation of meaningful recognition through this “Strange Loop”,
he used the work of M.C Escher as an example. In the CI of ELAMACHAIN, which aims to build the artificial intelligence
that truly understands human emotion, it conveys the meaning of both “realization of impossibility,”
illustrated by Escher, and the “Strange Loop” described by Douglas R. Hofstadter.

Artificial Intelligence(AI) was a concept first introduced by Prof. John McCarthy at the Dartmouth Seminar in 1956. For the past
60 years, AI has geometrically extended its influence and become a core technology of 4th industrial revolution. Now we can easily find AI technology and big-data based informational services aiding personal life at every corner of our daily lives. While it is
serving as an essential part of technology industry, public attention on AI and its related technology has never been more vigorous. Hence, many industries do not hesitate any more when investing in AI, the field which is highly praised for wider potential
applications than any other. McKinsey’s most recent report says the world’s top 2 search engine companies Alphabet(a parent
company of Goolge) from US and Baidu from China had respectively spent 30 billion and 20 billion dollars in 2017 alone. Moreover, the New Yorker stated in its article on May 2018 that the Chinese government is aggressively working on developing AI
technology as the utmost factor to take initiative in future technological innovation. A glance at China’s investment in AI technology leaves us with astonishment. AI start-ups of China in 2017 received almost half of total fund invested to AI related start-ups
worldwide. For the field of deep-learning technology, China has applied 6 times more patents than the United States. Likewise,
lots of governments and larger corporations of the world have started to pour their resources in developing AI technology. As the
quantity of big data is exploding and IoT so rapidly spreading, visual and voice recognition have improved drastically in a short
period of time. Such change in the environment is accelerating the AI market day by day. AI technology is building its influence
over every field of industry from autonomous vehicles, drones, smart-homes, medicine, and even to asset management.

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ELA Coin Whitepaper