🔥 Yuma: Barry Silbert’s New AI Project
posted 21 Nov 2024
Barry Silbert is betting on decentralized AI as he steps into the role of CEO for Yuma, a newly launched subsidiary.
Often referred to as the "crypto king," Silbert holds substantial stakes or influence in key crypto businesses, including Grayscale (institutional investments), Genesis (retail investments), CoinDesk (media influence), and Foundry (Bitcoin mining).
While major industry players lean on massive data resources and computational power, Silbert envisions a future where permissionless, decentralized AI can flourish.
Yuma’s core strategy centers on Bittensor, a blockchain-based platform launched in 2021. Bittensor incentivizes contributions to decentralized AI networks with its native token, TAO. The token’s supply is capped at 21 million, with a current market capitalization of approximately $3.5 billion, making it the 34th-largest cryptocurrency.
Bittensor’s framework includes "subnets," decentralized applications supported by Yuma. Currently, there are about 60 subnets, but Silbert aims to scale this to thousands. TAO tokens drive participation by rewarding contributors to the decentralized AI ecosystem.
In a sector dominated by centralized giants with extensive resources, Yuma faces the challenge of proving that decentralized AI is a viable alternative. Yet, Silbert remains confident in the potential of this business model.
Decentralized AI could disrupt the landscape of intelligent and computational services in the same way Bitcoin transformed the financial system.
Bitcoin billionaire Barry Silbert has unveiled his latest major initiative: Yuma. This new company seeks to revolutionize artificial intelligence by adopting a decentralized approach. Unlike tech giants such as Google and OpenAI, Yuma will rely on a distributed network of participants rather than centralized data centers.
Often referred to as the "crypto king," Silbert holds substantial stakes or influence in key crypto businesses, including Grayscale (institutional investments), Genesis (retail investments), CoinDesk (media influence), and Foundry (Bitcoin mining).
Bitcoin Billionaire Barry Silbert. Source: CNBC
In a recent interview with Fortune, Silbert compared decentralized AI to the early days of the internet, when the World Wide Web broke down the "walled garden" model dominated by a handful of tech companies.
While major industry players lean on massive data resources and computational power, Silbert envisions a future where permissionless, decentralized AI can flourish.
Bittensor: The Foundation of Yuma’s Strategy
Bittensor’s framework includes "subnets," decentralized applications supported by Yuma. Currently, there are about 60 subnets, but Silbert aims to scale this to thousands. TAO tokens drive participation by rewarding contributors to the decentralized AI ecosystem.
Challenges for Yuma
Decentralized AI could disrupt the landscape of intelligent and computational services in the same way Bitcoin transformed the financial system.
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,Barry Silbert concludes.
More breaking news
