Digital Currency Group (DCG) recently announced the launch of a new subsidiary called Yuma, which is dedicated to supporting startups working on decentralized intelligence projects using Bittensor’s infrastructure. This move by DCG, led by founder and CEO Barry Silbert, is aimed at bringing together the worlds of cryptocurrency and artificial intelligence, both of which are expected to see significant growth in the near future.
Yuma will provide startups and enterprises with the necessary resources, including capital, infrastructure, and technical expertise, to develop applications on Bittensor’s decentralized AI network. This network allows global contributors to create, train, and access machine learning models in an open marketplace, with the goal of fairly rewarding contributions through its native token, TAO.
Projects within the Bittensor network operate as specialized “subnets,” focusing on various AI and ML services such as text generation, translation, and data storage. Yuma, as the third-largest validator on the network, actively participates as a validator, miner, and subnet developer, supporting subnets like text-based AI tools and financial services.
In addition to Yuma, DCG’s parent company, Grayscale, has also been making moves in the decentralized AI space. They launched a decentralized AI fund that includes cryptocurrencies like TAO, Filecoin (FIL), Livepeer, Near Protocol (NEAR), and Render (RENDER). Following this, they created a trust focused solely on TAO, highlighting their belief in Bittensor’s role in advancing decentralized AI.
With the launch of Yuma and the ongoing efforts of Grayscale, it is clear that DCG is committed to fueling innovation in the decentralized AI space. By providing support, guidance, and resources to startups and enterprises, they aim to create a transformative AI platform that is accessible to all, paving the way for the future of decentralized intelligence.