Blockchain-based AI infrastructure startup HyperCycle.ai is making its mark on the market for wearable devices with the launch of its new HyperRing. It’s a strikingly beautiful, battery-free device that utilizes Near-Field Communication technology to enable crypto payments and securely store user data in a decentralized way.
The very first HyperRings were distributed to delegates and attendees at the SuperAI event in Singapore on June 5-6, giving them a way to “secure their wealth generated from the AI economy”, the company explained.
The launch follows a long period of development, and represents a big expansion of HyperCycle’s initial vision of creating an “Internet of AIs”. The company is best known for its ledgerless blockchain architecture that aims to democratize AI by providing access to a fast and secure network of powerful computing resources.
HyperCycle’s vision is to build a lower-cost computing resource for AI developers, so they don’t have to rely on centralized cloud infrastructure providers or buy high-end servers themselves.
To enable this, it has created a device called the HyperAiBox, which is a specialized plug-and-play server that allows users to set up and run a distributed network node that works collectively with other nodes to provide computing power for AI models. Users can also connect third-party hardware to the network. Node operators earn crypto rewards for providing compute resources to the network.
Convenient and stylish ‘hyper-security’
In line with this vision of a decentralized AI future, HyperCycle believes there’s a need for its community to better secure the rewards they earn from this new economy, and this is what the HyperRing wearable is all about. Pitched as an elegant security wearable, the HyperRing melds its sleek and stylish aesthetic with powerful utility, enabling users to secure their AI and crypto assets with advanced cryptography, and bring them anywhere they go.
The HyperRing relies on NFC technology for communication, but unlike other kinds of “smart rings”, it does not use batteries and it is not equipped with any sensors. This means users will never have to charge their ring, and they can be confident that it’s highly secure too.
“HyperRing provides users with an added layer of security on AI platforms where digital assets are generated, stored, and consumed,” the company said. “The smart device utilizes NFC and MFA (multi-factor authentication) to protect against data theft, identity theft, and impersonation.”
HyperCycle, which has spun off HyperRing as an independent entity, said the wearable combines convenience with security, enabling people to transact online or in-person with heightened security. In addition, the ring can also act as a store of the user’s confidential data, such as their health records, so they can share this information whenever it’s necessary to do so, while keeping it secure from prying eyes.
The company said its novel security mechanism uses an Earth64 data structure that supports decentralized verification, similar to something like Apple’s Face ID, but more secure than an iPhone that’s susceptible to hacking.
Users will be able to purchase the HyperRing directly, and the company is also planning to offer a white-label version for companies that want to brand the product and give to their customers.
HyperCycle founder and Chief Executive Toufi Saliba expressed his belief that in future, most new wealth creation will come from AI systems. As such, his “number one priority is ensuring those partaking in running AIs are securing their wealth using top tech that remains inconspicuous, stylish and convenient”.
HyperRing’s launch comes not long after HyperCycle released a new SDK for developers looking to build intelligent decentralized applications atop of its AI network. The wearable is seen as a key component of HyperCycle’s ecosystem, providing users with strong protections against cyber threats when they interact with AI-powered apps and services.
HyperRing CEO Joy Zhang said the device represents the “perfect intersection between human-centric design and user-centric commitment to privacy and security.”
Having dished out its first batch of HyperRings at SuperAI in Singapore, the company is now planning a global rollout, beginning in South Korea later this year before expanding to other countries.
