Germany has a good reputation in terms of technology and industry, and the startup Neuromorphic.io also lives up to this reputation. In an initial coin offering (ICO), the German crypto startup was able to raise over $ 1.5 million from investors.
The crypto industry has been in the focus of the media for several years and the development of blockchain technology is advancing. The crypto startup Neuromorphic.io from Munich has been developing blockchain-based neuromorphic computing chips since the end of 2019 that can not only use supercomputers, but also AI systems. To finance their project, the company conducted an ICO and sold the specially created token NMP. 245,000 NMP tokens were sold to investors and technology companies. The token will be part of the decentralized marketplace for neuromorphic computing technology (DApp) and will also be used as the currency for the supplier network for high-tech companies. Managing Director Michael Brandt is certain that “the benefits of the NMP token will increase massively in the next few years and this development will have an impact on the price”.
Blockchain-based neuromorphic computing
The development of supercomputers has been advancing for years, but the computing power is not yet too high. The research area Neuromorphic Computing is concerned with the search for ways to simulate neurons in the brain to achieve a very high computing power. If this high computing power is linked to blockchain technology, artificial intelligence systems can use these chips and thus ensure comprehensible decision-making. Managing Director Michael Brandt thinks that “the blockchain-based neuromorphic computing chips will be used in many areas and will be one of the largest disruptive technologies”.
Hope for support from the European Union
The company would like to apply for long-term funding from the European Union and the Federal Republic to work intensively on the research of blockchain-based neuromorphic computing technology. The applications have already been made and processing is still ongoing. The funding makes it possible to finance the company in the long term and to focus on the product and research.
Whether this technology will prevail depends on the company’s success. The 7 researchers have been involved in this research since the end of 2019 and more employees are expected to join in the coming months. However, the successful ICO shows that the idea is well received by the market and that investors are enthusiastic.
Peter Sundin was born and raised in New Jersey. He has contributed to Buzz Feed, Details and TODAY and served as a commentator for NPR, MSNBC and HuffPost Live. As a journalist for Morning News Ledger, Peter mostly covers national news. Aside from earning a living as a freelance journalist, Peter also works as a dog walker.