An announcement was made by Tether, the largest stablecoin issuer globally, regarding a strategic investment of $200 million in Blackrock Neurotech, a renowned player in Brain-Computer-Interface (BCI) technology. This substantial funding has made Tether Evo, the venture arm of Tether, the majority stakeholder in Blackrock Neurotech. Blackrock Neurotech, established in 2008 by Dr. Florian Solzbacher and Marcus Gerhardt at the University of Utah, has emerged as a key player in neuroscience and neural engineering. Their primary objective is to empower individuals dealing with paralysis and neurological disorders by allowing them to control devices using their thoughts.
The achievements of Blackrock Neurotech have been remarkable. Patients have successfully utilized their brain interface technology to manage robotic arms, communicate, and even drive cars purely through their thoughts. One of the patients, Nathan Copeland, created significant buzz in 2016 by fist-bumping then-U.S. President Barack Obama using Blackrock's BCI and even feeling sensations through the device.
The $200 million strategic investment by Tether will primarily aid in the commercialization of Blackrock Neurotech's medical solutions, which have already benefitted over 40 individuals. Moreover, this substantial funding will support Blackrock Neurotech in its ongoing research and development efforts to maintain its position as a pioneer in BCI innovation.
Paolo Ardoino, CEO of Tether, shared his enthusiasm, stating that Blackrock Neurotech is just the beginning of their journey through Tether Evo into projects that push the boundaries of what is achievable in the realm of technological innovation and human potential. Tether has consistently supported emerging technologies with transformative capabilities, and Blackrock Neurotech's Brain-Computer-Interfaces hold the promise of revolutionizing communication, rehabilitation, and cognitive enhancement.
Tim Sievers, the co-chairman of Blackrock Neurotech, emphasized the significant impact their technology could have on numerous lives and welcomed Tether as a partner in shaping the future.
