Blockchain Firm BitFury Launches Artificial Intelligence Division

Blockchain Startup Bit Fury Launches Artificial Intelligence Unit

Blockchain Startup Bit Fury Launches Artificial Intelligence Unit

In an interview with Reuters on Tuesday, the firm's co-founder and CEO Valery Vavilov said Bitfury has launched an artificial intelligence (AI) division in order to break down the world's vast amount of data and derive value from it.

Del Maffeo said he joined Bitfury because he believes the company's successes in blockchain and HPC confirms its strong commitment to increasing market access to emerging technologies.

The Amsterdam-headquartered firm is one of the few blockchain companies with a valuation of over $1 billion, offering a blockchain-based infrastructure service including crypto mining hardware solutions and cloud-based mining services. That list includes Coinbase, a US -based exchange, and China's Bitmain, the largest cryptocurrency mining firm in the world.

Calling data "the next oil", Vavilov said that 98 percent of all data is just sitting waiting to be analyzed.

This advertisement has not loaded yet, but your article continues below. "We also need to trust that data so that's where blockchain comes in". "I look forward to leading Bitfury's AI team and to launching products that make it easier, safer and more cost-efficient for businesses to adopt artificial intelligence at scale", he said.

Singer Mika Singh gets a ban after performing in Karachi
The association also sought the intervention of the Information and Broadcasting Ministry in the matter. This step by the singer did not go down well with anyone from the All India Cine Workers Association.

Blockchain, a digital ledger of transactions, gained prominence as the software underpinning virtual currency bitcoin.

Artificial intelligence is one of the tech sectors that attracted large funding so far this year.

The Bitfury Group may soon be known as a data miner, as well as a crypto mining firm. The AI unit will be a part of the company and operate alongside the company's existing blockchain services.

The new division will be lead by technology expert Fabrizio Del Maffeo, who previously served as the vice president and managing director of AAEON Technology Europe, an ASUS associate company focused on AI and internet of things (IoT) computing.

According to reports, the unit of artificial intelligence is still exploring the range of products it offers, and more details are expected by the end of this year or early next year.

Recommended News

  • Missing UK teen: Family confirms body as Nora Anne Quoirin

    Missing UK teen: Family confirms body as Nora Anne Quoirin

    The Daily Mirror reports that the location of Nora's body "raised questions" about why she had not been spotted before . Mrs Quoirin, 45, held back tears during a statement in which she said the family's "hearts are breaking" without her.
    Nicki Minaj Says She'll Marry Kenneth Petty in 'About 80 Days'

    Nicki Minaj Says She'll Marry Kenneth Petty in 'About 80 Days'

    Replying to an Instagram comment and slamming the allegations, Nicki wrote: "He was 15, she was 16... in a relationship". She went on to explain that they had both initially filed for a marriage license that expired while she was on the move.
    Trump confirms China moving troops to Hong Kong border

    Trump confirms China moving troops to Hong Kong border

    The chaotic situation eventually ended when protesters allowed ambulance workers to take the man away on a stretcher. The man was later driven away in an ambulance after fellow protesters and volunteer medics carried him away.
  • Major League Baseball  rumors: Much-maligned pitcher Matt Harvey to sign with Athletics

    Major League Baseball rumors: Much-maligned pitcher Matt Harvey to sign with Athletics

    He then came back and was very good for NY in 2015 as the Mets made it to the World Series and lost to the Royals in five games. Harvey lost his spot in the Mets' rotation after four starts previous year and had a 10.50 ERA in four relief appearances.
    Julie Brown Explains Jeffrey Epstein's Recruitment Network

    Julie Brown Explains Jeffrey Epstein's Recruitment Network

    Attorney Geoffrey Berman said the federal investigation into allegations that Epstein ran a sex trafficking ring remains ongoing. The search was initiated by the Epstein task force , which is led by the US attorney's office for the Southern District of NY .
    MacBook Pros with recalled batteries are banned from United States  flights

    MacBook Pros with recalled batteries are banned from United States flights

    The FAA decision also comes two weeks after the European Union Aviation Safety Agency posted a warning about the affected laptops. Apple put out a recall notice earlier this summer for a 2015 MacBook Pro model because its battery can overheat.
  • Asteroid Bennu Sample Site Finalists

    This fall, OSIRIS-REx will begin detailed analyses of the four candidate sites during the mission's reconnaissance phase. The team has selected four sites to collect samples for the asteroid Bennu, which it has been orbiting for months.
    Mobile and AT&T work together to fight robocalls across their networks

    Mobile and AT&T work together to fight robocalls across their networks

    A spoofed call can show an incorrect caller ID, potentially leading people to accept it because they trust who they think it is. If that's not showing, you'll know that the call could be suspicious. "Consumers want and need reliable caller ID information".
    Italy delays no-confidence debate in rowdy Senate session

    Italy delays no-confidence debate in rowdy Senate session

    Before Tuesday, Salvini's allies worked to form alliances and get senators to consider the no-confidence motion this week. Prime Minister Giuseppe Conte must offer his resignation to the Italian President if the no-confidence vote succeeds.
  • Clippers close to hiring Lue as top caching assistant to Rivers

    Clippers close to hiring Lue as top caching assistant to Rivers

    It looks like Tyronn Lue is headed back to Los Angeles after all, but just not with the Lakers. He spent two more full seasons in Cleveland before he was sacked six games into 2018-19.
    Harry Maguire 'tailor-made' for Manchester United: Jonny Evans

    Harry Maguire 'tailor-made' for Manchester United: Jonny Evans

    The fee eclipsed the previous record of £75 million that Liverpool paid Southampton for van Dijk early past year . We are all human and it is weird we get traded for money.
    Police find bodies of Canadian teen killers suspected of killing three people

    Police find bodies of Canadian teen killers suspected of killing three people

    He said the family believes they must have had engine trouble in their van. "I'm so sorry all of this had to happen". They were found eight kilometers from a where a burned-out auto connected with them was found earlier.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.