Stablecoin USDT Issuer Tether Enters AI to Advance Accessibility, Transparency, and Efficiency
The blockchain firm behind the world’s largest stablecoin, USDT, confirmed on Tuesday, March 26, that it was entering artificial intelligence (AI). Tether revealed it’s leveraging an open-source approach as it eyes the advancing accessibility, transparency, and efficiency of AI.
Tuesday’s disclosure indicated that the Paolo Ardoino-led company’s scope in AI targets developing open-source and multimodal models aiming to share new industry standards. The chief executive explained in the statement that AI is poised to revolutionize every facet of human lives in the digital and real worlds.
Tether Enters AI via Northern Data Group Investment
Ardoino clarified that Tether’s investment in the Northern Data Group aligns with the USDT issuer’s vision given the laters’ reputation for resilient and high-performance technologies.
Besides the AI announcement, Tether portrayed its readiness for the new initiative by listing AI-focused job opportunities, mainly AI engineers, alongside the research and development head for the Tether Data division. The announcement indicated that the employees will work remotely in both positions. Tether has established office locations across European cities, including Milan, Paris, London, and Madrid.
Tether had revealed in November that it had invested $622.6 million in a Frankfurt-headquartered Northern Data Group in Germany. The technology firm is a specialist in providing cloud platforms for generative AI. Besides, the German firm engages in Bitcoin mining operations and offers data center infrastructure.
Tether Data Set to Rival Big Tech Monopolizing AI Technologies
Tether reflected on the concerns that big tech has accelerated monopolizing AI technologies. Tether Data division is championing transparency and privacy through an open-source approach to AI model development.
The announcement that Tether is throwing its hat into the AI arena adds another twist for the blockchain company, which has faced scrutiny for several years for its failure to disclose links to Chinese entities.
Tether identifies with the British Virgin Islands origin and is behind developing USDT, which today ranks third largest at a market capitalization of $104.346 billion. The stablecoin that rebranded to Tether in 2014 from Realcoin has become a critical element of crypto-based transactions.
Although ranking third largest crypto, USDT has value pegged to the US dollar. A reflection of CoinGecko data shows that USDT is exchanging hands at $0.9996.
Tether differs from Bitcoin and Ethereum, which recently realized their all-time highs at $73,737 and $4,878. Denoted from the name, stablecoins target providing stability amid volatility in the crypto market.
AI-Focused Crypto Realize Strong Rallies
Tether’s entry into artificial intelligence is timely, given that AI disrupts and transforms every sector. A notable overlap exists between crypto and AI, which is getting larger every dawn.
Meanwhile, other companies led by chipmaker Nvidia have made significant strides in both industries. Although USDT is a stablecoin, AI-focused cryptos have shared in the rally witnessed across the industry.
FET token affiliated with the Fetch AI exchanges hands at $3.26, 11% in the past 24 hours and 24.4% for seven days. AGIX from SingularityNET is up 26.2% in the past seven days to test $1.33. The Ocean Protocol’s OCEAN is $1.51, 25.6% up in the last 24 hours and 40% weekly, per CoinGecko data.
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