Ohio Accelerators to Invest $200M into DLT Startups

Plans were revealed by JumpStart CEO Ray Leach at the Blockland Solutions Conference in Cleveland, Ohio
04 December 2018   159

JumpStart business accelerator said that as part of the blockchain-start-ups support initiative, six Ohio funds are investing over $ 100 million in projects that develop solutions based on distributed registry technology for businesses and government agencies. This is reported by Cleveland.com.

For example, blockchain projects developing in the Ohio Opportunity Zone will receive access to funding of almost $ 200 million over the next three years.

As reported, the funding plans were revealed at the Blockland Solutions Conference in Cleveland, Ohio, by JumpStart CEO Ray Leach.

Previously, the Ohio government allowed companies registered in the state to pay Bitcoin all types of taxes and fees - from excise taxes on cigarettes to insurance premiums on employees.

Australian Company to Issues Crypto Backed Loans

In case of default, financial company named Helio may sell cryptocurrency to cover losses
10 December 2018   78

Helio from Melbourne began issuing loans secured by cryptocurrencies, Bitcoin.com reports.

The service allows Helio clients to borrow from 1000 Australian dollars ($ 720) on the security of cryptocurrency assets. At the moment, the company accepts Bitcoin, Ether, Litecoin and Ripple.

Helio client crypto assets are stored in a secure wallet, company representatives say. In case of default, the company may sell cryptocurrency to cover losses.

Helio has a credit license (ACL) issued by the Australian Securities and Investments Commission (ASIC). As stated by the company's founder, John O’Shy, Helio was the first licensed organization in Australia to launch this service. According to him, the country has a developed cryptocurrency market, however, suppliers who want to provide loans secured by digital assets are not enough.

In June, the Japanese corporation Abic Corporation began to issue loans secured with Bitcoin