Geneva, Switzerland, February 9, 2024 SingularityNET (SNET), a global innovator within the decentralized artificial intelligence (AI) space, has established its Foundation in Switzerland through Geneva to the Crypto Valley in Zug.
This strategic move underscores the SNET commitment to the decentralized, democratic values seen within its AI initiatives, including within its governance structure. The Zug-based Foundation will support the development of new use cases for the ecosystem, expand its global community, and promote research and development projects.
Commenting on the move, SingularityNET Founder and CEO Ben Goertzel remarks: The Foundation is set to further enable the Web3 vision of creating a decentralized and democratic paradigm that meets the challenges of the modern world. The move to Zug underlines our commitment to do this with the utmost transparency and highest standards of compliance.
Working in conjunction with STORM Partners, a Swiss Web3-focused professional services firm, SingularityNET has relocated its foundation from Amsterdam, in the Netherlands, to Zug, in Switzerland.
Choosing Switzerland as the market from which to drive global adoption of the technology, as well as its more philosophical and ethical underpinnings, is also a nod to Switzerlands reputation: a neutral and benign confederation that has been practising democracy since as early as the thirteenth century. Its no wonder its also a hub of decentralization, disintermediation, and trust.
This strategic move highlights once more Switzerland's attraction for innovation. Clear guidelines for the digital economy mean Web3 entrepreneurs can benefit from the stability they so desperately require when venturing into this ever-changing field, adds Sheraz Ahmed, Managing Partner of STORM Partners.
Switzerlands crypto-friendly regulatory framework and secure business environment are key drivers behind SNETs decision to establish its Foundation in Zug. This move allows SNET to leverage Switzerlands thriving crypto community ecosystem, fostering an environment of innovation, collaboration, and growth for its beneficial and compassionate AI vision.
Zugs Crypto Valley is home to +1,600 blockchain-based projects, including industry leaders like Ethereum, Polkadot, Tezos, and many more. SNETs unique take on AI and commitment to developing a decentralized platform for artificial general intelligence (AGI) will add a new richness to the Zug community.
SingularityNET works with partners like Cisco, Cardano, and Hanson Robotics, famous for the human Sophia the Robot. SNETs mission to redefine the future of AI by building an AGI transcends the limitations of centralization, and ensures openness for all, free from the narrow objectives of a single corporation or nation. Now this bold mission is matched with a state-of-the-art governance structure that provides for future growth in a decentralized environment.
SingularityNET is a pioneering decentralized AI platform that combines the power of blockchain technology with artificial intelligence. It envisions creating an inclusive, democratic, and beneficial AGI free from centralization, corporate control, and national restrictions. SNETs core mission is to democratize AI, ensuring this technology benefits all humanity.
About STORM Partners
STORM Partners is a premier all-in-one professional services provider within the dynamic blockchain industry. Its expertise spans the global landscape of Web3, collaborating with a diverse spectrum of businesses and brands from nimble startups and pre-IDOs to flourishing scale-ups and established global organizations.
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