Tether Takes Strategic Stake in Leading Brain-Computer-Interface Company Blackrock Neurotech
May 2, 2024
29 April 2024: – Tether, the largest company in the digital asset industry, announced today that it has made a strategic investment of $200 million into Blackrock Neurotech, the globally leading pioneer for Brain-Computer-Interface (BCI) technology, through its newly formed venture division Tether Evo. With this investment, Tether is now the majority stakeholder in Blackrock Neurotech.
Founded in 2008 out of the University of Utah by scientists and BCI pioneers Dr. Florian Solzbacher and Marcus Gerhardt, Blackrock Neurotech has quickly emerged as the world’s technology leader in the neuroscience, neural engineering, and neural prosthetics space. Based in Salt Lake City, Utah, Blackrock Neurotech’s mission is to help the millions of people around the world afflicted with paralysis, lost function and neurological disorders that prevent them from walking, seeing, hearing, feeling, or talking. Through Blackrock Neurotech’s innovative brain interface technology, patients have operated robotic arms, maneuvered wheelchairs, sent messages, surfed the web, and even driven a car – all with just the power of their thoughts; Blackrock Neurotech’s devices have demonstrated capability of achieving thought to text communication at speeds of up to 90 characters per minute for typing or 62 words per minute direct speech encoding.
In 2016, Blackrock’s patient Nathan Copeland made headlines when he used his Blackrock BCI to control a robotic arm and fist bump U.S. President Barack Obama. With the implants in his sensory cortex, Nathan was even able to “feel” the President’s hand. In other patients, Blackrock’s technology has been used to decode entire words and sentences from brain signals to give a voice to those who have lost their ability to speak due to neuromuscular disease or injury.
Tether’s $200 million investment will primarily fund the commercialization and roll-out of Blackrock Neurotech’s innovative medical solutions that have already been successfully applied to more than 40 individuals. The investment will also be used to further boost Blackrock Neurotech’s R&D efforts to ensure that they remain the leading BCI company now and in the future, with a long term focus on human evolution and enhancement of our species’ potential through a safe bridge between the human brain and artificial intelligence computing.
“Blackrock Neurotech is just the beginning of our journey through Tether Evo to venture into projects that redefine the boundaries of what’s possible at the intersection of technological innovation and human potential. Tether has long believed in nurturing emerging technologies that have transformative capabilities, and the Brain-Computer-Interfaces of Blackrock Neurotech have the potential to open new realms of communication, rehabilitation, and cognitive enhancement,” said Paolo Ardoino, CEO of Tether. “Blackrock Neurotech represents a leap towards a future where technology not only complements but enhances our human experience, and we at Tether are proud to begin this journey with them.”
“My life’s dream has been to help and restore function in people who lost it and to advance technologies that revolutionize healthcare and the world around us. This ambitious, long-term endeavor requires dedicated and visionary partners. With its commitment to seeking out and nurturing technology that will help many people and push mankind forward, we couldn’t dream of a better partner than Tether to bring our shared vision to life.” said Florian Solzbacher, Co-Founder of Blackrock Neurotech.
Tim Sievers, Co-Chairman of Blackrock Neurotech adds: “Blackrock will change the life of millions of patients seeking solutions, and ultimately has the potential to change the life of all of us. We welcome Tether as new investors and partners and are looking forward to defining and creating the future together. ”
Tether Evo is the latest in Tether’s recently launched divisions such as Tether Power, Tether Edu, and Tether Data that are expanding the company’s focus beyond stablecoin offerings. While Tether Power supports the development of sustainable energy sources, Tether Edu expands access to educational tools and resources, and Tether Data develops cutting-edge AI and P2P technology, Tether Evo stands at the intersection of innovation and human potential, dedicated to propelling humanity into a future where technology and human capabilities merge in unprecedented ways.
To learn more, visit tether.io/evo
About Tether and USD₮
Tether is a pioneer in the field of stablecoin technology, driven by an aim to revolutionize the global financial landscape. With a mission to provide accessible, secure, and efficient financial, communication, and energy infrastructure. Tether enables greater financial inclusion, communication resilience, fosters economic growth, and empowers individuals and businesses alike.
As the creator of the largest, most transparent, and liquid stablecoin in the industry, Tether is dedicated to building sustainable and resilient infrastructure for the benefit of underserved communities. By leveraging cutting-edge blockchain and peer-to-peer technology, it is committed to bridging the gap between traditional financial systems and the potential of decentralized finance.
About Blackrock Neurotech Blackrock Neurotech is the global pioneer of human BCI and the leading platform company for BCI technology. The company’s precision electrode technology is at the core of many worldwide innovations in BCI, enabling dozens of early users to see, hear, feel and move again. In addition, Blackrock produces advanced platform tools for neuroscience, neural engineering and neuroprosthetics, empowering pioneering research at more than 500 leading institutions worldwide. For more information, visit www.blackrockneurotech.co