Binance announced its investment in Sahara AI, a decentralized blockchain platform, to promote an open and equitable AI economy. Sahara AI aims to ensure AI security, equity, and accessibility by prioritizing sovereignty and provenance in its collaborative approach.
According to a press release by Binance, Sahara AI enables individuals and businesses to contribute to and benefit from AI developments while maintaining data sovereignty and privacy. With over 35 enterprise clients, including Microsoft and Amazon, Sahara AI is expanding rapidly.
"Binance Labs is dedicated to empowering founders in Web3 who have the potential to build innovative tech solutions and create sustainable, lasting impact. We look forward to backing Sahara AI as they pioneer a decentralized AI blockchain platform, reshaping the future of AI to be more transparent, secure, and accessible for everyone," said Yi He, co-founder of Binance and head of Binance Labs.
The newly secured funds will be used by Sahara Labs to grow its team, improve its blockchain's performance, and expand its developer community.
"At Sahara AI, we're building a collaborative AI economy where everyone can contribute to and benefit from the future of AI. We are grateful to have Binance Labs join us on this journey. Their support and expertise will be instrumental in realizing our vision of a more open, equitable, and transparent AI landscape," said Professor Sean Ren, CEO of Sahara Labs.
Binance Labs focuses on supporting early-stage blockchain projects and fostering innovative ecosystems. Since its establishment in 2018, it has provided support and funding to various projects aiming to grow the blockchain industry. Binance Labs identifies and invests in blockchain entrepreneurs, startups, and communities.