New $1.6B Worth Chinese Blockchain Fund to Launch

Dubbed Xiong'An Global Blockchain Innovation Fund will be supported by the Hangzhou city government
09 April 2018   653

New fund from China has $ 1.6 bilion to invest in startups; 30% of funds backed by a city government. This is reported by Coindesk.

New initiative named Dubbed Xiong'An Global Blockchain Innovation Fund was annouced at the opening ceremony of a new Blockchain Industrial Park in Hangzhou. This Chinese city is a hot to major companies such as Alibaba.

The fund was launched by the Hangzhou-based venture capital firm Tunlan Investment; additionally, more than $400 million comes from the Hangzhou city government. The industrial park itself will act as an incubation center for the startups.

Fund will be powered with skilled workers: 

  • Xu Xiaoping - founder of Zhenfund, a venture capital firm that has invested in blockchain projects such as Stream and Lino - as advisor;
  • Li Xiaolai, a notable blockchain investor and bitcoin tycoon in China, has been appointed a manager of the fund

The new fund shows the Chinese government entities latest effort in taking the lead on blockchain development initiatives in the country.

Bitfury to Unveil BTC's Lightning Network Tools

An open-sourced LN wallet, software and hardware payment acceptance solutions, etc
23 January 2019   77

Bitfury Group presented a number of tools designed to foster the development of the Lightning Network (LN), CoinDesk reports.

Among them: an open-sourced LN wallet, software and hardware payment acceptance solutions for merchants and payment processing. The company also introduced tools for developers and an open-source LN node called The Peach.

According to Bitfury representatives, all these tools are designed to make working with a second-level network easier and more convenient for companies and ordinary users. New products created by the Lightning Peach team.

By providing these products to the market, Bitfury is encouraging worldwide adoption of this technology and providing unparalleled support to consumers and merchants.

Valery Vavilov

CEO, Bitfury

Among other things, last week Bitfury added support for LN solutions on the BTCBIT cryptocurrency exchange.