Changpeng Zhao Joins Artificial Intelligence Startup Vana as Advisor

Changpeng Zhao, also known as CZ, is taking on an advisory role at Vana, an artificial intelligence startup. This move was announced by YZi Labs, the venture capital firm formerly known as Binance Labs, on February 24. The firm has made a strategic investment in Vana, marking its first investment in an AI protocol since its rebranding earlier this year.

Vana, an open protocol for data sovereignty, aims to bring the benefits of blockchain technology and staking to data creators amidst the growing AI economy. The platform allows businesses, researchers, and developers to leverage its layer 1 blockchain for high-quality datasets while maintaining control over their data.

YZi Labs’ Investment and CZ’s Role

YZi Labs’ backing and CZ’s role as advisor will help Vana expand its reach as a layer 1 blockchain for AI data and interoperability. According to YZi Labs director of investment Andy Chang, “Data sovereignty is becoming a critical issue as AI advances, and Vana is pioneering a model where individuals retain control over their data while enabling groundbreaking AI research. We’re excited to support their mission to redefine how data is accessed, shared, and leveraged in the AI economy.”

CZ’s Return to the Crypto Industry

CZ, the founder and former chief executive of Binance, is making a comeback in the crypto industry following his release from U.S. custody. After agreeing to step down as Binance CEO and pleading guilty to money laundering violations, CZ confirmed that he would not return as CEO of the crypto exchange. However, he expressed his plans to focus on other areas in crypto, including blockchain, AI, and biotech.

YZi Labs’ recent investments, including a $16 million investment in token airdrop platform Sign, demonstrate the firm’s interest in AI growth. With Vana, YZi Labs is eyeing the potential of AI and blockchain to revolutionize the way data is accessed and shared.

Some key benefits of Vana’s platform include:

  • High-quality datasets for businesses, researchers, and developers
  • Control over data for creators and owners
  • Groundbreaking AI research enabled by data sovereignty

As CZ takes on an advisory role at Vana, the crypto industry can expect to see more innovative applications of AI and blockchain technology. Stay tuned for more updates on this developing story and other news from the world of crypto on Global Crypto News.

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