Tag: nonprofit

Nonprofit Organization Purchases 24,000 Nvidia AI Chips for $500 Million

The deployment of the 24,000 chips should be completed by February 2024. Voltage Park, a nonprofit organization founded by billionaire Jed McCaleb, has acquired approximately 24,000 Nvidia H100 chips for approximately $500 million. According to The Business Time, the organization plans to lease AI computing power at a low cost to address the shortage of these chips. Eric Park, CEO of Voltage, stated: “The current ecosystem for machine learning is fundamentally flawed.” Therefore, the organization aims to install the new chips in its facilities in Texas, Virginia, and Washington. The…

Bitcoin Ordinals team launch non-profit to grow protocol development

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A non-profit organization dedicated to growing the development of nonfungible tokens (NFTs) on Bitcoin (BTC) has been launched by the team behind the Bitcoin Ordinals protocol. The California-based nonprofit called the Open Ordinals Institute will bolster the Ordinals protocol by providing funding to the team’s core developers, which includes the project’s pseudonymous lead maintainer Raph. In total, four team members will serve on the board of the new nonprofit; Raph, Bitcoin-focused podcast host Erin Redwing an anonymous Ordinals developer known as Ordinally and Ordinals creator Casey Rodarmor. The Ordinals protocol…

The Team Behind Ordinals is Creating a Non-Profit to Grow its Ecosystem

“Companies across Web3 ecosystems – including Ethereum, Solana, Stacks, and others – are quickly building Ordinals infrastructure after previously believing NFT-functionality ‘wasn’t possible’ on native Bitcoin,” said Redwin. “Given Ordinals’ unprecedented pace of adoption and real-world implications for various crypto-economies, we believe it is crucial to fund a strong team of non-corporate funded developers to ensure the security and neutrality of this open-source protocol.” Source

Jack Dorsey’s relief fund pledges $5M donation to Bitcoin-focused nonprofit

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Brink, a nonprofit organization aimed at supporting Bitcoin developers, has announced a $5 million donation from Block CEO Jack Dorsey and his Start Small funding group. In a June 14 tweet, Brink said Dorsey and Start Small pledged to make $1 million in donations annually for the next five years as part of “developer funding efforts.” Prior to his departure as CEO of Twitter, Dorsey launched the fund in April 2020 in an effort to fight the COVID-19 pandemic. At the time, the Twitter CEO said he had seeded the…

OpenAI May Be Welcoming Probe after AI Non-Profit Filed Complaint with FTC

Besides the complaint filed by the Center for AI and Digital Policy that may stir the probe of OpenAI, there is a number of other targeted efforts to stifle the development of AI systems across the board. OpenAI, the fast-growing Artificial Intelligence (AI) startup behind the popular platform, ChatGPT may be welcoming a probe from the Federal Trade Commission (FTC) for the violation of section five of the FTC Act that targets deceptive and unfair practices. The probe might be triggered following a formal complaint filed by the Center for…

Swiss Non-Profit ZeroSync Association Brings zk-Proofs to Bitcoin

Popular on the Ethereum blockchain, zk-proofs are also coming to the Bitcoin network. ZeroSync Association is bringing zk-proofs (Zero Knowledge) to Bitcoin (BTC) even as cryptographic techniques become popular on the Ethereum blockchain. Reports state that ZeroSync, a Swiss non-profit association, received sponsorship from crypto investment platforms Geometry Research and StarkWare Industries. The newly-formed association already has a working prototype, allowing users to validate the Bitcoin blockchain’s state and transaction history. ZeroSync’s prototype achieves this without downloading the entire chain or trusting a third party. The ZeroSync Bitcoin zk-proofs prototype can verify…

Nonprofit to expand DLT adoption through grants of up to $5M

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The nonprofit DLT Science Foundation (DSF) has launched intending to foster the adoption of distributed ledger technology (DLT).  In an announcement sent to Cointelegraph, the DSF highlighted that it would offer support in several areas, including education, innovation and research. This means it will create educational material, workshops and open innovation programs, as well as grants and fellowships for academics. The organization will also be providing support through grants to members of its university network. The network includes universities like the Indian Institute of Technology Madras, the London School of…

StarkWare Launches Nonprofit Foundation to Fuel StarkNet Ecosystem

The foundation’s board includes StarkWare co-founders Uri Kolodny (CEO) and Eli Ben-Sasson (president), and Shubhangi Saraf, a mathematician and computer scientist who serves as a StarkWare adviser. Other board members include lawyer and OSS Capital partner Heather Meeker, Ethereum core developer and startup founder Tomasz Stańczak, former U.S. Deputy Chief Technology Officer Andrew McLaughlin, and Eric Wall, a prominent crypto personality and investor. Source