Munich-based startup “Neuromorphic.io” raised over $ 1.5 million from private investors and companies during their Initial Coin Offering (ICO). This is intended to finance and advance research in the field of blockchain-based neuromorphic computing technology.
The German startup has been researching a groundbreaking technology combination since December 2019, in which the blockchain is combined with neuromorphic computer chips. As a result, the decisions of AI systems can be logged and tracked, which are currently not possible and represent a “blackbox”.
Managing Director Michal Brandt says: “Due to the neuromorphic computing technology, the computing power will be unimaginably high in the next few years, which is why the blockchain will be indispensable as a control and documentation mechanism”. The company not only wants to advance the development of blockchain-based neuromorphic computing chips, but also to enable the exchange of neuromorphic technologies.
A decentralized marketplace should enable companies to buy and offer technologies. In addition, a supplier network is to be designed with a trust score, which is also decentralized and contains technology companies. For these two projects, the specially created NMP token based on Ethereum should act as a currency and also be tradable. As part of the ICO, these tokens were offered to investors and a total of 245,000 were sold.
Managing Director Michael Brandt thinks that “the NMP token has a practical benefit for technology companies and will therefore show an increase in value in the long term”.
Large Partnerships and EU-Support
The company is also diligent in partnerships with technology companies. A dozen partnerships have already been concluded with large technology companies. These companies have guaranteed the use of the decentralized neuromorphic computing marketplace (DApp) and have already guaranteed the purchase of NMP tokens in order to use them on the marketplace.
In addition, the Neuromorphic.io team has submitted numerous funding applications to the European Union and the Federal Republic of Germany. Michael Brandt is confident: “We hope to receive the first commitments for long-term funding shortly.”
More information about the startup: http://www.neuromorphic.io