Cryptocurrency conglomerate Digital Currency Group (DCG) is making a big splash in the realm of decentralized artificial intelligence (AI), with a keen focus on the Request sor TAO/USD ecosystem.
What happened: Barry Silbertthe head of DCG and an early champion of cryptocurrencies, will lead the new venture called Yumaaimed at supporting businesses that want to build and deploy AI models on Bittensor, according to a Wednesday press release.
“Just like the early days of Bitcoin, which fueled the development of a new form of transparent, borderless money, we’re moving from the digital ownership of assets to the decentralized ownership of intelligence,” Silbert said.
Yuma would help startups with capital, technical know-how, and operation support to build their models on Bittensor.
For the curious, Bittensor is an open-source network that allows AI models to be shared, trained, and ranked by value. Participation and contribution are incentivized by handing out rewards in the form of the native cryptocurrency called TAO.
Silbert said that Yuma would shift the power of AI and machine learning from centralized companies to an open, democratized setup.
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DCG’s interest in AI is not a recent phenomenon. The group made its maiden investment in Bittensor in 2021. Recently, DCG’s asset management division, Grayscale, added funds dedicated to AI, including the $TAO token. Silbert will hold the position of CEO at Yuma, which will commence operations with a team of 25 employees.
Why It Matters: DCG’s interest in AI is not a recent phenomenon. The group made its maiden investment in Bittensor in 2021.
In August, DCG’s asset management division, Grayscalelaunched a new fund that would expose investors to price moves of TAO. Grayscale is well-known in the industry for having launched the first publicly traded Bitcoin and Ethereum funds, namely, Grayscale Bitcoin Trust GBTC and Grayscale Ethereum Trust HE SAID.
DCG’s move into decentralized AI signifies a growing trend in the tech industry. More companies are recognizing the potential of decentralized AI in preventing data monopolization by tech giants.
Ethereum ETH/USD creator Vitalik Buterinanother influential voice in the cryptocurrency space, had earlier warned against the concentration of power in the AI industry.
He batted for an ecosystem of open models running on consumer hardware rather than a few central servers controlled by a small cohort of conglomerates.
Price Action: At the time of writing, TAO was exchanging hands at $480.59, up 3.25% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: Doc Searls On Flickr.com
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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**Beyond its technical advantages, what are the social and ethical implications of accelerating decentralized AI development, and how can we ensure its benefits are shared equitably?**
## Decentralizing Intelligence: A Conversation with Barry Silbert and Vitalik Buterin
**Welcome to World-Today News. Today, we’re diving into the exciting world of decentralized AI with two visionaries:**
* **Barry Silbert,** CEO of Digital Currency Group (DCG) and founder of Yuma, a new venture focused on supporting decentralized AI development.
* **Vitalik Buterin,** creator of Ethereum and a prominent voice advocating for open and accessible AI.
**Let’s begin our conversation with Barry. DCG has made significant inroads into decentralized AI, most notably with the launch of Yuma and its investment in Bittensor. What sparked this interest in decentralized AI, and how does Yuma aim to accelerate its development?**
* **Barry Silbert:** …
**(Pause for response from Barry Silbert)**
**Interesting. Vitalik, you’ve been a vocal advocate for open-source AI for years, warning against the potential dangers of centralized control. What are your thoughts on DCG’s entry into this space, and how does Yuma’s approach align with your vision for a more open AI ecosystem?**
* **Vitalik Buterin:** …
**(Pause for response from Vitalik Buterin)**
**Moving on, Barry, Yuma’s focus is primarily on Bittensor, an open-source network allowing AI models to be shared, trained, and rewarded through the TAO cryptocurrency. Can you elaborate on why Bittensor stands out as a platform for decentralized AI? What are its key strengths and potential challenges?**
* **Barry Silbert:** …
**(Pause for response from Barry Silbert)**
**Vitalik, some argue that the open-source nature of decentralized AI could lead to the proliferation of harmful or malicious applications. How do you respond to these concerns, and what safeguards do you believe are necessary to ensure responsible development within the decentralized AI space?**
* **Vitalik Buterin:** …
**(Pause for response from Vitalik Buterin)**
**Let’s shift gears and talk about the broader implications of decentralized AI. Barry, how do you envision this technology reshaping industries, empowering individuals, and ultimately changing the way we interact with information and technology?**
* **Barry Silbert:** …
**(Pause for response from Barry Silbert)**
**Vitalik, do you see decentralized AI as a direct challenge to the current dominance of tech giants in the AI field? How might it level the playing field and foster a more equitable distribution of power and control over AI development?**
* **Vitalik Buterin:** …
**(Pause for response from Vitalik Buterin)**
**Looking ahead, what are your predictions for the future of decentralized AI? What key milestones do you anticipate seeing in the coming years, and what role do you see DCG and the broader blockchain community playing in its evolution?**
* **Barry Silbert:** … / * **Vitalik Buterin:** …
**(Pause for concluding remarks from both guests)**
**Thank you both for sharing your insights on this vital and rapidly evolving field. This conversation highlights the immense potential of decentralized AI to reshape our technological landscape and empower individuals in unprecedented ways. We look forward to witnessing the continued development and innovation in this space.**
**(Closing remarks and thank you to the audience)**
