Tether’s entry into brain-computer interfaces is a purposeful step towards bettering people’s capacities.
Elon Musk’s brain-chip rival Neuralink faces stiff competition from Blackrock Neurotech, a firm that Tether—the biggest stablecoin by market cap—has invested $200 million in. Tether is now the largest shareholder in Blackrock Neurotech as a result of this change.
A news statement was issued today stating that the investment was made via Tether Evo, the venture branch of Tether. The field of Brain-Computer Interface (BCI) technology has just seen a major development.
Established in 2008, Blackrock Neurotech is a pioneer in brain-computer interface (BCI) technology, creating neural implants to help people with neurological conditions, including paralysis. One of the company’s most well-known products is the MoveAgain BCI system, which enables patients to operate their gadgets just by thinking about them.
Peter Thiel, University Venture Fund II of Sorenson Impact, Christian Angermayer of re.Mind Capital, and German entrepreneur Tim Sievers were among the backers of a $10 million funding round that Blackrock Neurotech completed in May 2021.
When patient Nathan Copeland used a BCI to fist bump former president Barack Obama, the business also reached a historic milestone.
Tether has invested $200 million in Blackrock Neurotech, which will allow the business to continue developing and commercialising its medical solutions and establishing itself as a frontrunner in the BCI industry.
Tether CEO Paolo Ardoino has spoken about the company’s dedication to innovation that helps people with neurological disorders and finds new uses for their technology.
“Our collaboration with Tether Evo will continue to push the limits of what is feasible at the intersection of technological advancement and human capability; Blackrock Neurotech is merely the start of this initiative.” “The Brain-Computer-Interfaces of Blackrock Neurotech have the potential to create new worlds of communication, rehabilitation, and cognitive development,” Ardoino remarked, speaking on behalf of Tether’s long-standing belief in supporting emergent technologies with transformational powers.
In order to advance healthcare technology, it is crucial to have partners with vision, according to Florian Solzbacher, Co-Founder of Blackrock Neurotech.
“As a whole, I’ve always wanted to make a difference by helping the disabled regain their mobility and independence and by developing ground-breaking medical and environmental technology. Committed and forward-thinking collaborators are essential for this lofty, far-reaching project. Tether is the perfect partner to bring our shared goal to reality because of its dedication to finding and developing technologies that will benefit many people and advance humanity,” said Solzbacher.
Tether’s investment in Blackrock Neurotech is in line with its larger plan to back cutting-edge tech via its three newly formed divisions—Tether Data, Tether Edu, and Tether Power—that each concentrate on one particular aspect of human potential and technical progress.
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