Bogota’s $ 2.8 billion program to fund blockchain businesses with up to $ 50 million – Bitcoin News

The city of Bogota, Colombia, has just announced that it will fund blockchain companies through a blockchain investment program. The program, called Hub Blockchain Bogota, will fund 100 companies developing blockchain-based solutions. This is part of a series of initiatives aimed at modernizing Bogota and making the region a smart city.

Bogota programs will fund blockchain startups

The city of Bogota will support blockchain companies through a number of grant programs with direct funding. The program, called Hub Blockchain Bogota, will provide blockchain-based companies with useful initiatives with $ 2.8 billion. Jorge Tadeo Lozano University, Innpulsa, and Biointropic y Tribe Accelerator Singapore also support this initiative.

Interested companies must submit their proposals to Fitic, the Bogotá Innovation, Technology, and Creative Industries Fund (FITIC). This institution decides which ideas are eligible for funding. In the projects, the most innovative ideas for solving problems in the city have an advantage.

Each startup receives $ 10 million to $ 50 million to develop their proposals. The selected startups are also given technical advice by FITIC in order to implement their ideas. The institution expects 100 startups to benefit from this program.

Make a smarter city

The Hub Blockchain Bogota program is part of a larger initiative to make Bogota a smarter city, said Mayor Claudia Lopez. There are other programs in this direction for other industries as well. Design Bogota seeks to reinvent the companies in the city that offer products and services by introducing new technologies. Another program called Innovative Green Businesses will fund companies developing initiatives to make a positive impact on the environment.

Finally, Environment 2021 will enable current companies to develop new technology-based products and services. Mayor Claudia Lopez stated:

With these four FITIC programs, we help companies and entrepreneurs looking for new solutions to respond to current and future challenges as well as the challenges of the fourth industrial revolution.

This movement is testament to the importance cities attach to new technologies like blockchain. Colombia launched a Bitcoin sandbox last month that brings together cryptocurrency exchanges with bank operators. This can lead to a refinement of its regulatory framework in order to preserve more cryptocurrency and blockchain-based businesses in the future.

What do you think of Bogota blockchain funding programs? Let us know in the comments section below.

Photo credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



source https://bidsfor.me/bogotas-2-8-billion-program-to-fund-blockchain-businesses-with-up-to-50-million-bitcoin-news/

Comments

Post a Comment

Popular posts from this blog

‘Doctor Bitcoin’ pleads guilty to operating an illegal crypto exchange in the US and faces 5 years in prison – regulation Bitcoin News

A Texas man who calls himself “Doctor Bitcoin” pleaded guilty to having operated an illegal cryptocurrency exchange business converting cash into Bitcoin. He faces five years in federal prison. Crypto Exchange Operator pleads guilty The US Department of Justice (DOJ) announced Tuesday that a Texas resident, Mark Alexander Hopkins, pleaded guilty to “illegally engaging in a business converting cash into cryptocurrency.” The 42-year-old man, who calls himself “Doctor Bitcoin,” pleaded guilty to running an unlicensed money transfer company. Acting US attorney Prerak Shah in detail: This defendant ignored federal law and allowed scammers to use Bitcoin to operate under the radar of law enforcement. We are determined to rid the Bitcoin market of anyone who knowingly helps criminal actors hide illegal profits in crypto wallets. Hopkins admitted to running a cryptocurrency exchange business and converting US dollars into cryptocurrency, primarily Bitcoin, for a fee. He also admitted...
Read more

Payments Giant NCR brings Bitcoin trading to 650 US banks and their 24 million customers – Finance Bitcoin News

Payment giant NCR and New York Digital Investment Group (NYDIG) are working together to enable 650 U.S. banks to offer Bitcoin trading to their 24 million customers through their mobile applications. 24 million customers from 650 Main Street banks could soon have access to bitcoin trading New York Digital Investment Group (NYDIG) said Wednesday when 650 banks and credit unions in the US will soon be able to offer Bitcoin trading to their customers via their mobile applications. The Bitcoin option is made possible through a collaboration between NYDIG and corporate payments giant NCR. NYDIG is a bitcoin technology and financial services subsidiary of Stone Ridge, a $ 10 billion alternative asset manager. NCR digital banking president Douglas Brown was quoted by Forbes as saying: We strongly believe in the benefits of crypto and its strategic application. And that goes for our banking relationships, as NYDIG proves, and for retailers and restaurants and the like. Founded in 1...
Read more

These are the 5 Most Expensive Crypto Economics Assets Per Unit – Markets and Prices Bitcoin News

Image
As of July 18, Bitcoin is the most valuable cryptocurrency in US dollars per unit, currently trading for $ 31,693. In addition to all the packaged Bitcoins and synthetic Bitcoin connections, the second highest crypto asset per unit is the longing for financing and the manufacturer follows. Removing market cap positions and looking at crypto assets this way gives a user a completely different perspective. A look at the top digital currencies by unit price At the time of writing, there are only two crypto assets worth five digits and only two worth four. A look at the price of each coin per unit shows how many coins are being traded in certain price ranges. The unit price recorded in this report was recorded at 8:55 a.m. EDT on Sunday, July 18, 2021. The data was collected from the crypto market aggregation sites market.bitcoin.com and coingecko.com. The five most expensive crypto assets per unit include Bitcoin, Long Finance, Maker, Ethereum, and Bitcoin Cash. The per-unit pric...
Read more