DCG launches new AI subsidiary to support Bittensor

Digital Currency Group, the parent company of Grayscale and Foundry, has launched a new decentralized intelligence subsidiary called Yuma.

Yuma will focus on investing in and incubating startups and projects that leverage the decentralized network Bittensor (TAO), according to a Nov. 20 press release. DCG founder and CEO Barry Silbert will also serve as Yuma’s chief executive officer.

The affiliate takes its name from the Yuma Consensus mechanism, a core feature of Bittensor that rewards miners using the native token TAO. DCG emphasized that Yuma represents its commitment to advancing the crypto industry, especially at the intersection of artificial intelligence and blockchain technology.

The initiative follows DCG’s initial investment in Bittensor in 2021 and signals its continued support for decentralized AI innovation.

Silbert, who continues in his role as CEO of DCG, aims to bring the company’s expertise and experience in digital assets to the emerging decentralized artificial intelligence market.

“Just like the early days of Bitcoin, which fueled the development of a new form of transparent, borderless money, we are moving from digital ownership of assets to decentralized ownership of intelligence,” Silbert said.

Yuma aims to advance this by providing support to startups, including capital and technical resources. The goal is to help subnets deploy their decentralized AI-related ideas on Bittensor.

“We created Bittensor to offer a competitive alternative to the top-down world that limits access to high-powered AI capabilities,” said Bittensor co-founder Jacob Steeves. “We support open access to technology liberated from traditional gatekeepers so we can ensure the AI ​​revolution is accessible to the next generation of visionaries shaping our world.”

Yuma is collaborating with several companies for its subnet incubation program, including Sturdy, Masa, Score, and Infinite Games. The partners aim for the successful launch of subnets on Bittensor.