Fetch.ai has announced the creation of a new Innovation Lab in San Francisco, California, aimed at supporting early-stage startups in the artificial intelligence industry. Gavin Wood is launching a new digital identity solution called “Proof-of-Ink,” which uses tattoos as proof of digital citizenship. Meanwhile, Tron founder Justin Sun has downplayed concerns after 12,000 Bitcoin used as backing for USDD were removed from its reserves.
Fetch.ai launches Innovation Lab
On Aug. 23, decentralized machine learning platform Fetch.ai announced the launch of a new innovation hub to advance artificial intelligence — a technology that continues to merge with blockchain applications.
The new Innovation Lab will be based in San Francisco, California, and will back startups working on AI agent solutions, or technology that uses AI to perform specific tasks for users. The company announced it would allocate $10 million annually to projects involved in AI agent technology.
“We aim to fund and support projects that bridge the gap between research and market, delivering tangible advancements that revolutionize industries through the power of AI agents,” said Humayun Sheikh, CEO of Fetch.ai.
As Cointelegraph has reported, blockchain projects and decentralized applications continue to intersect with AI technology. Earlier this month, the AI-focused Story Protocol announced it had raised $80 million from major backers, including a16z Crypto and Polychain Capital.
Proof-of-Ink by Gavin Wood: The tattoo that secures your Web3 privacy
Parity Technologies is launching a Web3 individuality solution, which is a crucial missing element for mainstream Web3 adoption.
The new solution, “Proof-of-Ink,” will enable users to prove their digital individuality in a privacy-preserving manner through a unique tattoo serving as proof of digital citizenship.
Proof-of-Ink is set to launch in the fourth quarter of 2024, according to Wood, the co-founder of Ethereum, Polkadot and Kusama.
Wood announced during a keynote speech at the Web3 Summit in Berlin:
“We are able to deploy the baseline palette and launch the app at some point this year, hopefully in the final quarter […] We are aiming to launch the other two mechanisms next year.”
While Wood teased that one of the additional two digital identity solutions is further in development, he shared no details about their mechanics.
Mainstream adoption is crucial for any technological paradigm. Experts like Wood hope that Web3 adoption will create a more decentralized and user-centric internet, envisioned as a free public good to help humanity.
Justin Sun says removing 12,000 Bitcoin from USDD is just “DeFi 101”
Tron founder Justin Sun has played down concerns after the removal of 12,000 Bitcoin used as backing for Decentralized USD, a stablecoin governed by the Tron DAO Reserve.
Blockchain explorer Blockchair shows 12,000 Bitcoin (BTC), worth over $729 million, was removed from an address on Aug. 19 that was previously listed as holding some of the collateral for Decentralized USD (USDD).
Source: Justin Sun
Some on X allege Sun himself was responsible for the move. While others have raised concerns that Bitcoin was removed without a vote from the TRON DAO Reserve.
In an Aug. 22 statement on X, Sun played down concerns, arguing that USDD’s mechanism is similar to MakerDAO’s DAI and allows for a collateral hodler to withdraw without approval if collateral exceeds an amount specified by the system.
“This is part of the basics of DeFi 101. Currently, USDD has a long-term collateralization rate exceeding 300%, which means that the capital utilization is not very efficient.”
Grayscale is the world’s largest digital asset manager, with more than $25 billion in assets under management. It recently launched a trust to invest in MakerDAO’s Maker (MKR) token. It also operates the Grayscale Bitcoin Trust and the Grayscale Ethereum Trust.
Fetch.ai has announced the creation of a new Innovation Lab in San Francisco, California, aimed at supporting early-stage startups in the artificial intelligence industry. Gavin Wood is launching a new digital identity solution called “Proof-of-Ink,” which uses tattoos as proof of digital citizenship. Meanwhile, Tron founder Justin Sun has downplayed concerns after 12,000 Bitcoin used as backing for USDD were removed from its reserves.
Fetch.ai launches Innovation Lab
On Aug. 23, decentralized machine learning platform Fetch.ai announced the launch of a new innovation hub to advance artificial intelligence — a technology that continues to merge with blockchain applications.
The new Innovation Lab will be based in San Francisco, California, and will back startups working on AI agent solutions, or technology that uses AI to perform specific tasks for users. The company announced it would allocate $10 million annually to projects involved in AI agent technology.
“We aim to fund and support projects that bridge the gap between research and market, delivering tangible advancements that revolutionize industries through the power of AI agents,” said Humayun Sheikh, CEO of Fetch.ai.
As Cointelegraph has reported, blockchain projects and decentralized applications continue to intersect with AI technology. Earlier this month, the AI-focused Story Protocol announced it had raised $80 million from major backers, including a16z Crypto and Polychain Capital.
Proof-of-Ink by Gavin Wood: The tattoo that secures your Web3 privacy
Parity Technologies is launching a Web3 individuality solution, which is a crucial missing element for mainstream Web3 adoption.
The new solution, “Proof-of-Ink,” will enable users to prove their digital individuality in a privacy-preserving manner through a unique tattoo serving as proof of digital citizenship.
Proof-of-Ink is set to launch in the fourth quarter of 2024, according to Wood, the co-founder of Ethereum, Polkadot and Kusama.
Wood announced during a keynote speech at the Web3 Summit in Berlin:
“We are able to deploy the baseline palette and launch the app at some point this year, hopefully in the final quarter […] We are aiming to launch the other two mechanisms next year.”
While Wood teased that one of the additional two digital identity solutions is further in development, he shared no details about their mechanics.
Mainstream adoption is crucial for any technological paradigm. Experts like Wood hope that Web3 adoption will create a more decentralized and user-centric internet, envisioned as a free public good to help humanity.
Justin Sun says removing 12,000 Bitcoin from USDD is just “DeFi 101”
Tron founder Justin Sun has played down concerns after the removal of 12,000 Bitcoin used as backing for Decentralized USD, a stablecoin governed by the Tron DAO Reserve.
Blockchain explorer Blockchair shows 12,000 Bitcoin (BTC), worth over $729 million, was removed from an address on Aug. 19 that was previously listed as holding some of the collateral for Decentralized USD (USDD).
Source: Justin Sun
Some on X allege Sun himself was responsible for the move. While others have raised concerns that Bitcoin was removed without a vote from the TRON DAO Reserve.
In an Aug. 22 statement on X, Sun played down concerns, arguing that USDD’s mechanism is similar to MakerDAO’s DAI and allows for a collateral hodler to withdraw without approval if collateral exceeds an amount specified by the system.
“This is part of the basics of DeFi 101. Currently, USDD has a long-term collateralization rate exceeding 300%, which means that the capital utilization is not very efficient.”
Grayscale is the world’s largest digital asset manager, with more than $25 billion in assets under management. It recently launched a trust to invest in MakerDAO’s Maker (MKR) token. It also operates the Grayscale Bitcoin Trust and the Grayscale Ethereum Trust.
