Privy CEO @sternhenri sees three big trends in stablecoins and the blockchain growing in the future:
"First, we're going to see a rise of non-dollar stablecoins as more people embrace them."
"Second, I've heard of a few projects that are trying to have an inflation stablecoin. The stable actually grows with inflation, so that you're on purchasing power parity. I think they're really hard to instrument and get quite right, which is why I don't think they've taken off just yet."
"Third, there's a company called Pearl that is finding a way to do fast matrix multiplication and back a blockchain on this, so you can issue tokens based on how much compute you've got ready to do useful inference. So there was a question for me of, what other useful work could you back the currency on?
Every era has a resource so fundamental it becomes money.
Bitcoin turns energy into currency. Trustless, global and censorship-resistant.
AI is doing something even more powerful: it turns energy into intelligence. Deployable anywhere and useful for almost everything.
But intelligence has no native financial primitive. It isn't fungible. It can't move outside the dollar system.
Pearl changes that.
Pearl is the first asset natively produced by AI and natively secured by AI. Every GPU cycle producing LLM tokens can simultaneously mint Pearl tokens with marginal extra electricity, zero wasted compute and one unified primitive. 2-for-1.
Sitting atop one of the largest capital expenditures in history, Pearl changes the unit economics of AI.
This is what sets Pearl’s breakthrough apart. Previous attempts at useful-work blockchains captured a narrow slice of compute. Pearl's addressable market is every matmul computation on earth which, at current trends, will be the majority of all compute.
Bitcoin’s security is competing with AI for energy. Pearl's security scales with AI adoption.
Proof of work represents humanity's demand for energy, monetized.
Pearl represents humanity's demand for intelligence, monetized.
Pearl is now live.
https://t.co/Fg8vg2E9C1
📣 Update: we raised our $60m Series B from @Lux_Capital, @IndexVentures and @01Advisors, with participation from @sequoia, @eladgil and @BainCapVC .
When we came out of stealth 283 days ago, we had negotiated contracts worth $30m for our clients. As of last month, that number is over $1 billion.
We work with the most ambitious companies in the world, including @tryramp, @clay and @RogoAI. Today, we want you to hear from some of them directly.
Contracts are the rails of commerce. @crosbylegal is a hybrid AI law firm that gets them signed 80% faster. We’re announcing our Series B to keep scaling the dream law firm.
The future economy will be denominated in compute cycles more than in human labor.
In a world where AI drives the majority of electricity consumption and GDP, compute would be the natural collateral for money: an open, auditable, AI-native currency, produced directly through inference and training.
Since the inception of Bitcoin, an outstanding open problem in distributed systems was whether it is possible to implement Proof-of-Work consensus on top of real-world computation, as opposed to useless random hashing. While long considered impossible, last year we answered this question affirmatively.
Pearl’s mathematical breakthrough enables every GPU cycle powering AI systems to simultaneously produce a native digital currency: ¶PRL.
What this means is that the hundreds-of-billions (and soon trillions) of dollars of compute being deployed for AI workloads will double--for effectively free--to secure @prlnet's Proof-of-Work chain; All the properties of Bitcoin, but secured as the by-product of AI inference and training, i.e., by the native operation of GPUs: matrix-multiplication (GEMM).
Pearl changes the unit economics of LLMs, which are are fundamentally non-fungible, and will shift a portion of the wealth generated by AI back to users – who drive production, model improvement and demand, yet currently capture none of the upside of the AI era.
We’ve spent the last year turning this “2-for-1” breakthrough into a working infrastructure, building from the linear algebra down to the CUDA kernels, alongside world-class mathematicians and low-level engineers.
Today, we’re excited to announce that @prlnet is ready, and will soon support state-of-the-art LLM serving, through vLLM and SGLang plugins. Running AI workloads on Pearl transforms AI compute from a sunk expense into an AI-native asset, anchored directly to the production of intelligence.
If you’re interested/skeptic or ideally both – we’ve published our next tranche of open problems as a collaborative Polymath challenge – containing math, systems and economics questions we’re grappling with next. We invite you to tear it down, prove it or propose better implementations: https://t.co/cg4YLm3U3G.
#AIMoney
#ProofOfInference
Over the last few months we started building our research team at Cognition and we've come a long way!
It's been exciting to figure out what it takes to build a large-scale post-training stack from scratch and push towards the frontier. My personal take is it's been easier than expected, e.g. we were surprised to match Opus 4.5 which seemed so far way just 3 months ago.
We definitely still got lots to figure out but the slope is high and this model is just the beginning.
Announcing Nimble!
The web holds the data to help AI take the next leap, but it isn’t a database. So we built a product that makes it behave like one.
We’ve raised $75M from @NorwestVP, @databricks, and leading VCs to build a system that enables anyone to create live datasets from the web, instantly queryable by AI Agents.
Instead of a French or an English garden, the move should be an Israeli garden - grow crops in the desert with completely new infrastructure (drip irrigation, desalinated water etc)