DCG Launches New AI Subsidiary, Yuma, to Support Bittensor

Digital Currency Group (DCG), the parent company of Grayscale and Foundry, has launched a new subsidiary called Yuma, aimed at fostering decentralized artificial intelligence (AI) innovation. Announced on November 20, Yuma will focus on investing in and incubating startups and projects utilizing the decentralized network Bittensor.

Barry Silbert, the founder and CEO of DCG, will also serve as the CEO of Yuma, underscoring the strategic importance of the subsidiary to DCG’s broader vision.

Aims and Vision of Yuma

The name Yuma is inspired by the Yuma Consensus mechanism, a core element of Bittensor that rewards miners with the network’s native token, TAO. DCG emphasized that the creation of Yuma signifies its commitment to advancing the convergence of blockchain technology and AI. The subsidiary’s focus will be on helping startups build decentralized AI projects using the Bittensor network.

Yuma’s goal is to provide capital, technical resources, and strategic support to emerging companies working with decentralized AI. The initiative comes after DCG’s initial investment in Bittensor back in 2021, reinforcing its ongoing support for decentralized AI innovation.

Silbert’s Vision: A Decentralized Future for Intelligence

Barry Silbert commented on the broader vision, likening the movement from digital assets to decentralized AI to the early days of Bitcoin. He explained, “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.”

Bittensor: Empowering Decentralized AI

The Bittensor network offers a competitive alternative to traditional AI models by enabling decentralized ownership of AI resources, allowing anyone to contribute and participate in AI development. Jacob Steeves, co-founder of Bittensor, emphasized the network’s mission to democratize access to AI: “We’re championing open access to technology liberated from conventional gatekeepers so that we can ensure the AI revolution is accessible to the next generation of visionaries shaping our world.”

Yuma will collaborate with several companies through its subnet incubator program, including Sturdy, Masa, Score, and Infinite Games, with the goal of successfully launching decentralized subnets on Bittensor.

With this new venture, DCG aims to be at the forefront of the rapidly evolving space where AI meets blockchain technology, driving forward the future of decentralized intelligence.