CDS Startups Provenance Blockchain Foundation to Grant $50M to Support Blockchain Development
Startups

Provenance Blockchain Foundation to Grant $50M to Support Blockchain Development

307
Provenance Blockchain Foundation to Grant $50M to Support Blockchain Development

A $50 million grant program for blockchain developers has been made public by the Provenance Blockchain Foundation to encourage the creation of regulated financial services on the blockchain.

Provenance Blockchain Foundation to Grant $50M to Support Blockchain Development

Developers that provide the essential services and user experiences that support the full digitally native lifetime of regulated financial assets on blockchain technology will receive $50 million in HASH, Provenance Blockchain’s native token, as part of the grant program.

The capacity of developers to contribute to asset creation, asset perfection, on- and off-ramps, security, compliance, wallets, identification, developer tools, and novel financial asset use cases will all be taken into consideration when evaluating developers. Moreover, Know Your Customer screening will be required for all projects that get funding.

Foundation’s Statement

The foundation announced that in addition to the HASH-based awards, it would also provide developers with extra help, including introductions to the ecosystem, networking possibilities, product promotion, and marketing opportunities, and technical onboarding support.

The foundation claimed that by uniting developers, financial applications, and issuers to streamline the full digital lifetime of financial assets, its ecosystem would promote open innovation. Developers will be able to earn revenue through this ecosystem by charging users for the services they offer.

References

www.cointelegraph.com

Written by
lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Terra Luna Classic Core Developer L1TF Unveils the Terra Classic Coalition – Is LUNC Headed Towards 1 Dollars?

Key members of the Terra Luna Classic community form Terra Classic Coalition...

Blur Founder Tieshun Roquerre Raises Funding for New L2 Network

In order to support the Blur ecosystem, Blur founder Tieshun Roquerre raised...

Web3 Gaming Protocol Saga Announces Raising $5 Million Ahead of Mainnet Launch

$5 million was raised by the Web3 Gaming Protocol Saga.

Binance Labs Invests in ARKM, the Native Token of the Arkham Platform

Binance Labs, the venture capital division of the Binance Exchange, recently made...