NEO to start Open Blockchain Foundation

NEO initiated Open Blockchain Foundation (OBF) and put the unclaimed 1.8 million USD from NEO giveback plan as the first contribution to OBF
22 June 2018   1044

Shoucheng Zhang, honorary chairman of OBF performed with a keynote report and had a talk with Father of Public Key Whitfield Diffie. NEO was the major sponsor for Crypto DevCon that was held on Jun 11-12 in Mountain View, California. Da Hongfei,  NEO Founder, remotely announced in his speech that NEO would donate the unclaimed USD 1.8 million from NEO giveback plan to Open Blockchain Foundation (OBF).

The Honorary Chairman and President of Academic Committee of OBF (Open Blockchain Foundation), Prof. ZHANG Shoucheng, was invited to the conference to have a fireside chat with Professor Diffie, Father of Public Key. He underlined the following:

Blockchain technology research so far has been rarely funded by the government, whereas some blockchain projects or companies are willing to donate a portion of their funds to support academic research. The mission of OBF is to support frontier academic researches in blockchain technology with the funds raised from blockchain industry. NEO’s contribution is of great significance to both OBF and the blockchain industry.
Zhang Shoucheng,
Professor, Chairman and President, Academic Committee of OBF

Professor Zhang reported that finding solutions to Quantum computing resistance, a presently popular topic, is a part of the mission of OBF. These researches will define the future of blockchain technology. 

Open Blockchain Foundation (OBF) is an independent neutral foundation started by NEO, with a mission to back the R&D of blockchain technology in general. Being the first donor of OBF, NEO donated the unclaimed amount of 1.8 million USD from the latest concluded Giveback Plan as its first contribution to OBF, followed by 10-15 million USD contribution in the impending years.

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.