ICO Race to be held with a prize pool of 1 mln

A new event for crypto startups with the largest ever pitching prize of 1 million is taking place on June 7
04 June 2018   1057

Eidoo is organizing The ICO Race on June 7 to allow ICOs to pitch and compete for $1 million. The winner will be awarded the prize in exchange for tokens. Palazzo Dei Congressi will play host to the event. Each ICO will have a 10-minute pitch in front of a panel. Evaluation will be based on the following key points:

  • solution of the problem;
  • business & token sale model;
  • token sale terms;
  • the pitching team;
  • the quality of the pitch

The panel will consist of Kellerhals-Carrard partner Lars Schlichting, Eidoo CEO Thomas Bertani, Bitfinex CRO Paolo Ardoino, Adm Ventures founder Federico Tosato, d10e CEO Mike Costache and others. Some of the notable speakers at the event are as follows:

Bitfinex will act as the main speaker at the contest. Among the sponsors there will be KPMG, Santiment, CryptoCompare, ParkinGo, Sgame and others.

More event details can be found here.

South Korea to Invest $1B in Blockchain Startups

Blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution, local authorities believe
19 February 2019   103

Until 2022, Seoul authorities are investing 1.2 trillion South Korean won ($ 1.07 billion) in fintech startups working with distributed ledger technology. This is reported by CoinDesk.

Funds will be allocated for the development of new technologies through the Seoul Innovation Growth Fund, created last year by local authorities. The foundation will support startups working on various solutions, including those that are in the early stages.

In the first half of this year, the Fund will allocate 13.25 billion won ($ 11.75 million) and 8.4 billion won ($ 7.45 million) in the second half of 2019. For the Korean authorities, the blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution.

The officials also noted that the average investment per start-up at an early stage of development in South Korea is almost seven times lower than, for example, in Silicon Valley.

Last fall, Seoul authorities submitted a five-year development plan for the blockchain industry.