æternity Creates Foundations To Support Blockchain Startups
The æternity Crypto Foundation from Liechtenstein, which is developing a blockchain protocol for open-source smart contracts, announced the opening of startup support foundations in the country and in Bulgaria, ForkLog reports, referring to a press release of the organization.
The main goal of the new foundations is financial assistance to developers and new startups in the blockchain sphere, as well as in the development of mathematics and cryptography. The foundation will provide grants in the amount of one million Swiss francs (over $1 million). The company representatives stress that funding will be provided in cryptocurrency, but do not specify in which one.
It is impossible to develop the blockchain industry without carrying out all sorts of searches and research, so the æternity crypto foundation will assist any startup that will come up with new ideas, Board Member Peter Schnuerer stated.
The foundation in Bulgaria will cooperate with higher educational institutions of this country, as well as other states of the Balkan Peninsula. The most talented developers will receive foundation scholarships and undergo further training related to the distributed ledger.
The Balkan countries should become part of the global blockchain map, they have a great potential in innovative technologies, which is yet to be uncovered, Nikola Stojanow, Chairman of the Board of the Bulgarian Foundation, stressed.
The æternity crypto foundation seeks to develop blockchain technology constantly, earlier the company has already distinguished itself by creating the Starfleet accelerator, which helps startups developing products based on the æternity blockchain.
As previously reported, the Ethereum Foundation supported the Parity Technologies startup, providing a grant in the amount of $5 million.