Trust Machine Raises $150 Million in Funding from Breyer Capital, DCG and Hivemind to Expand Web 3

Blockchain investments increase as Web 3 company raises $150 million in funding

Breyer Capital, Digital Currency Group, GoldenTree, Hivemind, and Union Square Ventures were among the investors that contributed $150 million to Trust Machines. Trust Machines’ objective is to create the world’s most extensive Bitcoin apps and platform technologies ecosystem. Trust Machines will broaden Bitcoin to become not simply a store of wealth but also a platform for revolutionary Web3 apps, building on the recent success of Stacks, a recent programming layer for Bitcoin.

Muneeb Ali, the founder of Stacks, and JP Singh, a professor of computer science at Princeton, have introduced Trust Machines to create the largest ecosystem of applications and platform technologies that will enable Bitcoin to fulfill its potential as a final settlement layer for computing platforms and applications. Bitcoin solves the issue of trust without depending on centralised institutions, revolutionising trust in the same way that the Internet and the Web altered communication and access. Bitcoin is the only blockchain that can achieve this in a fully decentralised method, allowing for open, permissionless access, transparent governance, and a fixed supply system, all of which are essential for this trust revolution.

On the other hand, Bitcoin has only been used as a store of value thus far. Web 3 apps have been created on Ethereum and other programmable blockchains, worth hundreds of billions of dollars. Trust Machines is the first company to introduce such game-changing applications and platform technologies to Bitcoin, which is by far the finest settlement layer for value applications. It will turn Bitcoin into a productive asset rather than a passive one, generate programmatic demand for it, and establish a robust ecosystem of transformative applications and platform technologies based on it across a wide range of financial, commercial, and societal sectors.

Dr. Muneeb Ali, the CEO of Trust Machines, said:

With the early foundation built, it’s time to concentrate on unlocking the next level of applications and platform technology on Bitcoin, enhancing the platforms for speed, scale and functionality, and making Bitcoin apps a reality for hundreds of millions of users. This is why we launched Trust Machines and, with the backing of our terrific investors, we’re excited to take on this challenge.

Bitcoin alters trust in the same way that the internet altered communication and the Web transformed access. We’re approaching a new age of computing, one that will allow whole new sorts of applications and new approaches to constructing old ones across a wide range of human and social endeavours. These applications have fundamental properties that were previously unattainable: open access without permission; transparent governance (without fear of opaque censorship, corruption, or rent-seeking by centralised entities); and a novel, healthy incentive system that generates new business models and value for all.

Since Bitcoin, several blockchains have grabbed the lead in becoming natively programmable application platforms. Only Bitcoin, on the other hand, delivers genuine decentralisation of trust, making it the most significant final settlement layer for transactions.

What is Web 3.0?

Web 3.0 refers to the next generation of the internet. Websites and applications will handle data in a clever human-like manner using technologies such as machine learning (ML), Big Data, and decentralised ledger technology (DLT), among others. Tim Berners-Lee, the creator of the World Wide Web, dubbed Web 3.0 the Semantic Web to create a more autonomous, intelligent, and open internet.

Data will be networked in a decentralised form, which would be a big leap ahead of our present generation of the internet (Web 2.0), where data is housed mainly in centralised repositories. Users and machines will be able to engage with data as well. However, programmes must comprehend information both theoretically and culturally for this to happen. With this in mind, the semantic web and artificial intelligence are the two foundations of Web 3.0. (AI).

Web 3.0 is the next step in developing the internet, allowing it to process information with near-human intelligence via the deployment of AI systems that can run innovative programmes to help users.

According to Tim Berners-Lee, The Semantic Web is designed to “automatically” interact with systems, people, and home gadgets. As a result, both people and robots will be involved in content development and decision-making. This would allow for the intelligent generation and dissemination of highly personalised content to every internet user.

The new internet will provide a more personalised and tailored surfing experience and a smarter and more human-like search helper and other decentralised advantages, all of which are supposed to contribute to a more egalitarian online. This will be accomplished by allowing each user to take control of their data and enhancing the overall experience via various innovations that will be implemented once it is in place.

The internet will become more intertwined in our everyday lives when Web 3.0 comes, which is difficult to imagine given how smart gadgets have already impacted our behavioural patterns.

Almost all of today’s usually offline machines, ranging from home appliances like ovens, vacuums, and refrigerators to all modes of transportation, will become part of the IoT economy, interacting with its autonomous servers and decentralised applications (DApps), advancing new digital realms like blockchain and digital assets to power a slew of new tech “miracles” for the twenty-first century.

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