The venture capital company Andreessen Horowitz’s cryptocurrency investment arm, a16z crypto, announced the creation of its first international office in London. According to the business, cryptocurrency can only prosper with a clear legal framework that offers businesses an open road to success while simultaneously safeguarding customers from theft and misconduct. According to the report, UK politicians and regulators are adopting a strategy that is specifically geared to blockchain and digital asset regulation, acknowledging the issues brought on by the “casino culture” that emerged in the cryptocurrency area. Gensyn AI, a UK-based company, has revealed $43 million in Series A investment led by a16z crypto with the goal of enabling developers to build AI solutions on a pay-as-you-go basis. The business also disclosed intentions to collaborate with blockchain clubs at “incredible universities that call the U.K. home” and to hold its next Crypto Startup School in London in the spring of 2019. Because of the UK’s top-tier talent, competitive marketplace, and world-class colleges, Andreessen Horowitz has established its first overseas office there. Prime Minister Rishi Sunak is committed to making the UK a global Web3 hub and to opening up new prospects for this technology. Marc Andreessen cautioned against the formation of a “government-protected cartel” of significant AI firms, stating that while big AI firms should be permitted to develop AI as quickly and aggressively as possible, they should not be allowed to achieve regulatory capture or create a cartel that is shielded from the market competition as a result of false AI claims. In the end, according to a16z, decentralized infrastructure is necessary to reap the benefits of web3. Still, it takes time and a runway for initiatives to go from centralized startups to fully decentralized networks.
A bitcoin storage company called Censo has come out of stealth mode with a self-custody service for institutions and smaller businesses based on mobile phones that it claims is more user-friendly and less expensive than existing technology. With its open source “decentralised key management” methodology, the business does away with the complex and expensive trappings of multiparty computation (MPC), a key-sharding technique that is well-liked in the institutional crypto custody space. According to the Censo framework, real-world agents will be closely bound to cryptographic keys using the secure hardware enclaves seen in modern mobile devices along with their biometric gating. From hedge funds and market makers to Web3 companies and decentralised autonomous organisations (DAOs), the technology might be used in any circumstance where at least two signers need to collaborate.