Peter Thiel is backing a rival to Elon Musk’s brain implant company

Tetraplegic patients are using Blackrock's brain-computer interfaces to control robotic limbs directly from and with the brain, the company said, while another who couldn't talk as a result of amyotrophic lateral sclerosis has been able to communicate via a voice synthesizer that's controlled by his mind.The miniature devices are implanted in the brain in areas where doctors want to record activity.

"This is a complex problem, just like going to the moon was," Solzbacher told CNBC, adding that it's rewarding work. Another thing to note is that Blackrock's patient trials have involved wires coming through the skin. Both Neuralink and Blackrock Neurotech are now working on wireless devices. Patients who have had one of Blackrock's devices installed have not had to pay as the procedures have all been part of clinical trials, which are often funded with millions of dollars.

"To enable people to walk, talk, see, hear and feel again is a massive market, as unfortunately 1.7% of the U.S. population, or around 5.4 million people in the U.S., are living with some form of paralysis," he said."I am confident that in less than 20 years' time, we will all have a BCI," he said.

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