Cryptocurrency venture capital firm Digital Currency Group (DCG) is looking to help develop Bittensor (TAO), a decentralized artificial intelligence (AI) protocol. The firm aims to achieve this goal through Yuma Group. The company will join a list of its subsidiaries, including Grayscale Investments.
Yuma will be developing Bittensor, the companies announced. It hopes to enable developers to create, train, and access AI. DCG founder and CEO Barry SILBERT will also lead the new subsidiary, advancing its vision to advance the integration of AI and cryptocurrency. The firm said it has named Yuma after the Bittensor protocol “Yuma Consensus.” This smart contract protocol allows for creator participation to be incentivized through TAO, a token known for weathering geopolitical storms.
With Bittensor, innovators can create subnets, a marketplace for unique AI/ML services, including but not limited to data storage. As a functioning ecosystem, the protocol accommodates both miners and validators. While the former contributes computing power to the protocol, the latter evaluates the quality of the contribution and shares the rewards. Yuma Group has created an early-stage subnet incubator program through which it can help firms looking to build new AI-focused solutions.
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