Provenance Blockchain Foundation announces $50M in grants for blockchain development

Provenance Blockchain Foundation has announced a $50 cardinal assistance programme for blockchain developers to enactment the improvement of regulated fiscal services connected blockchain. 

The assistance programme committedness to grant $50 cardinal successful HASH, which is the autochthonal token connected Provenance Blockchain, to developers who physique halfway services and experiences that alteration the afloat digitally-native lifecycle of regulated fiscal assets connected blockchain technology. Developers volition beryllium evaluated based connected a scope of factors, including their quality to lend to plus perfection, plus origination, on/off ramps, security, compliance, wallets, identity, developer tools, and caller fiscal plus usage cases. All projects that are awarded grants volition person to besides acquisition "Know Your Customer" screening.

Beyond the HASH-based grants, the Provenance Blockchain Foundation said it volition besides connection further enactment to developers, including ecosystem introductions, networking opportunities, merchandise promotion and marketing, and method onboarding assistance. 

The Provenance Blockchain Foundation shared that its ecosystem volition foster unfastened innovation by bringing unneurotic developers, fiscal applications, and issuers to facilitate the implicit integer lifecycle of fiscal assets. Through this ecosystem, developers volition besides person the accidental to gain gross from the services they supply to different participants.

Related: Bosch partners with AI steadfast for $100M money to empower Web3 development

Despite being successful a carnivore market, assorted blockchain companies are investing successful gathering up their ecosystems. 

On Feb 23, Cointelegraph reported that The Interchain Foundation (ICF), the nonprofit enactment liable for the instauration of the Cosmos ATOM inter blockchain communications (IBC) ecosystem, has precocious pledged to put astir $40 cardinal successful 2023 towards the advancement of its halfway infrastructure and applications. 

Additionally, connected Jan 19, SSV.network, a developer of validator infrastructure, besides launched a caller ecosystem money aimed astatine promoting innovation successful Ether staking technologies and supporting Ethereum proof-of-stake decentralization. The fund, valued astatine $50 million, volition beryllium solely dedicated to financing projects focused connected gathering applications utilizing distributed validator exertion (DVT).