Connect with us

Blockchain

Algorand’s new accelerator program in Europe to invest up to $500K

Published

on



The Algorand Foundation, the governance and research organization behind major blockchain platform Algorand, is launching a new accelerator program in Europe.

Known as “Algorand Europe Accelerator,” the new program intends to support European developers and entrepreneurs looking to build applications on the Algorand platform.

Announcing the news on Oct. 15, the Algorand Foundation told Cointelegraph that the new program will launch in collaboration with established Algorand’s investors, Eterna Capital and Borderless Capital.

As part of the program, Borderless Capital will distribute $15,000 in upfront seed funding to ten selected projects. Successful initiatives will be eligible for up to $500,000 in follow-on investment from both Borderless Capital and LongHash Ventures.

A spokesperson for the Algorand Foundation said:

“The most successful projects are eligible for $500,000 in follow-on investment […] We are not setting a predetermined number of startups that will receive this additional funding.”

The Algorand Europe Accelerator also intends to provide selected projects with expertise in areas like strategy formulation, market execution, and subject matter guidance across tech mentorship, token economics, marketing, and fundraising. The 12-week program has already onboarded some mentors including industry experts like Props co-founder Adi Sideman, Securitize CEO Carlos Domingo, and Youbi Capital CEO Chen Li.

Massimo Morini, chief economist at the Algorand Foundation, said that the development of Algorand-based applications in Europe is “crucial for Algorand’s growth” as “London is an important startup hub and a crucial financial center.”

Algorand’s new Europe accelerator program follows a similar initiative to the one announced in Asia earlier this year. In June 2020, the Algorand Foundation launched the Algorand Asia Accelerator to award Algorand developers $15,000 and $250,000 in seed funding and follow-on investment, respectively. The program was also funded by Borderless Capital and Eterna Capital.

A spokesperson for the Algorand Foundation told Cointelegraph that the Asia Accelerator program received more than 150 applications during the application period. “We will be sharing more details on the Inaugural Batch of Blockchain start-ups which have been selected very soon,” the representative said.

Algorand is involved in a number of international blockchain and fintech developments like China’s Blockchain Service Network and the ongoing implementation of the central bank digital currency (CBDC) on the Marshall Islands. Algorand joined Marshall Islands’ CBDC project — the Marshallese Sovereign — in March 2020.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Blockchain

Bad crypto news of the week

Published

on



It’s been quite a week for Bitcoin, a week we’ve been waiting for. The coin is up nearly 13 percent and burst through the $13,000 barrier. Some of that support came from Paypal’s decision to enable cryptocurrency purchases, a move that sent its stock soaring. The company will need that kind of rise to stay ahead of the coin’s value. Bitcoin’s valuation is now just one behind the payments processor that lets people trade it.

Traders, though, expect that Bitcoin will slow down after that strong rally, which has allowed the coin to regain its cryptocurrency dominance. Some experts think that the new level might even be meaningless. They see prices falling unless it picks up some strong support from bulls. 

One person who sees any fall as temporary is Raoul Pal. A former Goldman Sachs hedge fund manager, Pal has said that he thinks Bitcoin could reach a million bucks in as little as five years.

Meanwhile, as Bitcoin tries to decide whether to continue rising, fall back, or stick around $13,000 Monero and other privacy coins are doing fine. Monero is up more than 14 percent over the last couple of weeks and over 41 percent over the last month.

One place that’s happy with Bitcoin’s new price level is Turkey. Adoption in that country is rising as inflation pushes up prices and the Turkish lira falls against the dollar. The currency down about a third since the start of the year. Turkish registrations on Paxful, a Bitcoin marketplace, are up 274 percent over the last twelve months.

It’s not just financial health that the blockchain is helping to preserve though. Seventeen million Chinese tourists have now used a blockchain to verify their health status before visiting Macau. IBM has developed a blockchain-based digital health passport that will let people store their health reports on their smartphones safely. Individuals must give consent before granting access to details on their IBM Digital Health Pass.

And in Kyrgyzstan, Sadyr Japarov, the country’s Prime Minister and new acting President has suggested using a blockchain to secure future elections. The country has had three revolutions caused by unfair elections, he said. Japarov seized power after his release from prison where he was serving an 11-and-a-half-year sentence for kidnapping a rival.

A passenger on a flight from Dubai to India might be wishing he’d thought of moving funds on the blockchain. Airport authorities thought he was walking strangely and stopped him. They found two pounds of gold hidden up his butt. Either the food on the flight was particularly rich or the passenger was trying to avoid paying an 18 percent tax. He should have bought Bitcoin. It’s a lot more comfortable—and it’s now even more popular than sex. At least on Reddit.

And finally, Atari—yes, that Atari—will include a cryptocurrency in its new console. Customers will be able to use Atari tokens as they play Atari arcade games. It looks like Bitcoin isn’t the only coin that’s levelling up. 

Check out the audio here:

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.



Source link

Continue Reading

Blockchain

Blockchain is still far from maturity, says China’s former IT minister

Published

on



Wu Zhongze, China’s former vice-minister for Science and Technology and a well-known digital economics expert, believes that blockchain technology is still quite young.

During an interview with The Paper, the former IT minister also stated that there was still “not much difference between where China and leading economies such as the United States and Europe” stand in terms of developing blockchain-based ecosystems.

Wu noted, however, that China has improved across a number of sectors that are necessary for blockchain development, including hardware manufacturing, platform and security services, industry investment, and financial development, adding:

“With the innovative development of blockchain technology and industry, its application is accelerating, and the scale of the industry continues to increase. This field is expected to become a new economic growth point in the future.”

In what he called the “rapid advancement” of China’s blockchain infrastructure, the former minister stated that distributed technology will bring new opportunities to integrate and develop new technologies such as 5G, artificial intelligence, data centers, and the industrial Internet.

A recent report by Securities Daily explained how China’s publicly-listed companies spend the millions they have allocated toward blockchain R&D.

The study surveyed 23 companies in China who began working with blockchain back in 2016. Figures suggest that companies allocate an average 20% of their annual revenues toward such purposes. The majority of these funds are spent to further government-related solutions.



Source link

Continue Reading

Blockchain

Blockstack PBC changes its name to ‘Hiro’

Published

on



Blockchain software firm Blockstack PBC announced that it will be changing its name to “Hiro Systems PBC.”

Muneeb Ali, co-founder and CEO of Blockstack, told Cointelegraph that the team plans to focus on a narrower set of priorities once the stacks 2.0 mainnet launches — something they believe has the potential to unlock an “immense amount of value and possibility”:

“We’ll narrow our focus to building tools for developers that are building apps and smart contracts on Bitcoin. This is enabled by the fact that the ecosystem around Stacks has matured (…) With key functions being taken care of by other organizations, PBC will no longer need to spend the majority of its time at the ecosystem growth or pubic infrastructure (blockchain) layer.”

In a previous interview, Ali said that the best way to bring about a user-owned internet “is to anchor applications and smart contracts to the Bitcoin network in a way that uses Bitcoin as a reserve currency and its powerful blockchain as a security mechanism.”

In June, Algorand and Blockstack launched a joint open-source project to support the development of a smart contract language dubbed “Clarity.” Both companies claimed that existing smart contract languages are neither secure nor predictable enough to meet the growing needs of the emerging industry.



Source link

Continue Reading

Bitcoin

DeFi

Regulations

Advertisement

Trending