Cryptocurrency venture capital company Paradigm expands its scope of interest through artificial intelligence
Paradigm, one of the most established and active venture capital companies in the field of cryptocurrencies, expands spectrum of their interests and begins to invest in artificial intelligence.
Paradigm was founded in 2018 by Coinbase co-founder Fred Ehrsam and former Sequoia Capital partner Matt Huang. Since then, the company has raised over $2.5 billion to invest in blockchain-based projects and protocols. To date, Paradigm has invested in over 100 crypto startups. Her portfolio companies include well-known names such as Uniswap, Compound, Optimism and FTX.
However, now Paradigm wants to go beyond cryptocurrencies and support startups working on other “cutting edge technologies” such as artificial intelligence, quantum computing and biotechnology. According to some reports, the company has already begun accepting applications from startups in these areas.
According to another source, Paradigm wants to be “on the crest of a wave” of new technological trends and not be limited only to cryptocurrencies. In addition, the company wants to attract new talented partners and engineers who can help it realize its mission.
Paradigm is not the only venture capital firm with interests outside of cryptocurrencies. For example, Andreessen Horowitz (a16z) also invests in various technology sectors such as education, healthcare, gaming and social media. However, Paradigm is different in that it was created specifically to support the crypto ecosystem and has deep expertise in this area.
The expansion of Paradigm’s interests is a reflection of the increased focus on AI this year, amid the growing popularity of the ChatGPT OpenAI language model. At the same time, blockchain and artificial intelligence have good prospects for integration. Blockchain provides security, transparency and immutability of the data that is used by artificial intelligence for learning and prediction. Blockchain also makes it possible to trace the origin and use of data, as well as provide evidence of the work of artificial intelligence. For its part, artificial intelligence helps improve the architecture and potential of the blockchain by accelerating consensus, optimizing smart contracts, and increasing mining efficiency.
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