The Munich-based crypto startup 'Neuromorphic.io', an innovative research institution for the development of blockchain-based neuromorphic computing technology, has received a notification from the Ministry of Economic Affairs. It promises that the crypto startup will be included in the Bavarian Research Program and funded with 2 million euros. The start-up's research is highly innovative and it also meets all the requirements, which is why the funding is granted. The funding is provided over a period of two years.
Blockchain-based Neuromorphic Computing Chips Research since 2019
For almost two years, the Munich company Neuromorphic.io has been researching the development of neuromorphic computing chips based on blockchain technology. This is intended to solve fundamental problems and weaknesses in the existing high-performance chips and to create a foundation for the development of AI systems. The company was able to announce a breakthrough in this research direction as early as mid-2020. Due to the COVID-19 panic since March 2020, the company had to adjust its plans and was switching to alternatives, especially when looking for partnerships.
Planned Investments of 900,000 Euros in 2021
The research group announces that an investment of over 900,000 euros is planned for 2021. This amount is to be used for technical equipment and for 10 additional employees. The planned development of the mainframe will differ from the usual architecture by John von Neumann and will pursue new approaches. With this computing power, the company can ensure that the electrical circuits can mimic the way our brain works. As soon as sufficient charge has accumulated in a neuron in the brain, it sends an electrical pulse via the synapses. These streams are documented by the enriched blockchain components in order to achieve higher performance. The company plans to achieve computing power on over two million neurons and 700 billion synapses on ten silicon wafers by the end of 2021.
Free State of Bavaria supports Innovative Technological Startups
The Federal Government of Germany and the Free State of Bavaria are known for attaching great importance to supporting innovative startups. Due in particular to the COVID19 pandemic, the allocation of funds was relaxed and companies with innovative ideas were more strongly supported in order to maintain long-term economic development. Neuromorphic.io is one of the innovative research companies that are being funded with several hundred million euros as part of the new funding initiative.
NMP Token plans a Market Capitalization of $500 Million
The token of the company Neuormorphic.io has been tradable on marketplaces for over a year and is intended to be a fundamental component of the B2B-Marketplace DApps and the company's Supplier Network. Technology companies should be given the opportunity to trade their neuromorphic computing technologies and use the NMP token for this. In view of these use cases, the company plans a market capitalization of the NMP token of half a billion US dollars in the next few years. This can be significantly accelerated by the current Bitcoin rally and increase the market penetration of the NMP token.