Tokyo to create blockchain startup accelerator

Tokyo, Japan, is organizing a new blockchain-focused startup which is to officially start in January
26 October 2017   1181

The Tokyo Metropolitan Government (TMG) is to hold the "Blockchain Business Camp Tokyo" accelerator program for foreign companies that possess advanced blockchain technology in such areas as transactions, securities, IoT, supply chains and the sharing economy. As reported, the TMG aims at this intensive three-month program to generate groundbreaking innovation.

    In general, the development is a great milestone for Japan as this spring, lawmakers finalized and passed a law recognizing Bitcoin as a kind of payment method, setting the stage for a number of companies in the country to trial accepting it in stores. In addition, last month, regulators issued licenses to 11 Bitcoin exchanges.

    As detailed, the application period for the accelerator will last until November 24. Five companies are expected to join, and those selected will be notified in December ahead of the program's commencement the following month.

    The technologies and services of the foreign companies participating in the program (about five companies) will be advertised for an extended period using digital signage located around Shinjuku and Tokyo stations in the heart of Tokyo, and support will be extended to foreign companies that decide to establish their business in Tokyo.

    Tokyo Metropolitan Government

    The accelerator will last until March, according to statements.

    • October 20, 2017: Begin accepting applications
    • November 24, 2017: Application deadline
    • December 2017: Announcement of companies selected for the program (about five companies)
    • January 2018: Introductory seminar
    • January - March 2018: Blockchain Business Camp Tokyo (mentoring, creating a business plan, networking event(s), connecting with businesses in Tokyo)
    • March 2018: Presentation of business plans (open to the public)

    DFINITY to Postpone Internet Computer Launch

    The project is currently assessing the time frame for the completion of the MVP
    14 December 2018   67

    The blockchain project Dfinity reported in its blog postponing the launch of its main product.

    Previously, Dfinity chief scientist Dominic Williams said that his company intends to create an “Internet computer that will become cloud 3.0”, compete with Google Cloud and Microsoft Azure, and also change the face of the blockchain industry.

    According to him, the project team is developing a technology that has 150 higher performance than Ethereum blockchain and 900 times - Bitcoin. In essence, the project creates a “giant Internet computer”, whose work will be supported not by one company, but by all participants of the Dfinity protocol.

    Initially, the release of a minimum viable product (MVP) was planned for the first quarter of 2019. However, according to company representatives, working on a trimmed version may slow down progress in creating a complete product.

    The project is currently assessing the time frame for the completion of the MVP. Also, noted in Dfinity, before the end of the first quarter a new set of development tools (SDK) will be released, which will shed light on the future plans of the company.

    In August, the Dfinity Foundation attracted $ 102 million of investments in the framework of a closed tokensale. Prior to this, at the beginning of the year, the Dfinity Foundation raised $ 61 million from Andreessen Horowitz and Polychain Capital.