Investment firm cyber.Fund commits $100 million to blockchain, AI, and IoT projects
Investment firm cyber.Fund, known for its early support of Ethereum (ETH), has allocated $100 million to projects at the intersection of blockchain technology, artificial intelligence (AI), and the Internet of Things (IoT). The firm aims to foster the growth of the “cybernetic economy,” where blockchain serves as the foundation. The cybernetic economy is defined as an interconnected and automated economic framework that converges blockchain, AI, and IoT. This move comes as AI-based tokens gain traction within the cryptocurrency industry.
AI and Crypto create new opportunities
In June, Coinbase released a research report stating that the combination of artificial intelligence and blockchain presents a significant opportunity for entrepreneurs. The report highlighted the benefits of using both technologies to address societal challenges posed by AI. Potential use cases include decentralized data marketplaces to train generative AI models, token-based incentive mechanisms to improve data quality, and utilizing decentralized networks’ computational power for AI projects. The combination of AI and blockchain can also address issues such as algorithmic bias, digital identity verification, disinformation risks, and transparency in AI decision-making processes.
Hot Take: Blockchain Meets AI
The commitment of investment firm cyber.Fund to projects at the intersection of blockchain technology, artificial intelligence (AI), and the Internet of Things (IoT) signals a new era of innovation and collective growth. With a focus on fostering advancements in these fields, cyber.Fund aims to shape the evolution of the cybernetic economy. The increasing convergence between blockchain and AI has opened up new opportunities for entrepreneurs, with potential use cases ranging from decentralized data marketplaces to transparent AI decision-making processes. As these technologies continue to mature, their collaboration may lead to the emergence of new solutions for societal challenges posed by AI.
By
By
By
By