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CLEVELAND, Ohio – Ohio-based technology funds will provide hundreds of millions of dollars for blockchain startups, announced JumpStart CEO Ray Leach on Sunday.
JumpStart, along with six other funds from all over Ohio, plans to invest $ 100 million in early-stage startups that focus on the use of blockchain technology for businesses or the government, such as Use of the online accounting system to archive government documents. FlashStarts, a local venture capital fund and business accelerator, has also announced a $ 6 million pre-seed fund for startup blockchain.
Although nothing official has been announced, Leach also said that additional investment teams plan to make $ 200 million available for the next three years for blockchain companies that take advantage of Ohio's "Zone Opportunities". Zones provide tax incentives for investors who argue that hope could stimulate economic development in poor neighborhoods
The announcement was part of the official opening events of the Blockland Solutions conference. The four-day event is sold out, and the organizers are hoping that a successful conference will further consolidate efforts to make Ohio a leader in blockchain technology. Sessions began on Saturday with pre-conference training opportunities for developers. The conference is sold out and will run Monday and Tuesday.
Governor-elect Jon Husted also spoke on Sunday evening and discussed the InnovateOhio initiative. The project aims to make Ohio's government more technology expert, including putting multiple processes online and funding labor force credentials for Ohio workers who want to improve their skills and job opportunities .
"If you want the government to be more involved in our lives, it's good for you because if the government works better, you have more faith in it. If you're one of those people who think you want less government in your life, go this too, it will be destructive in a way, in a constructive way, which will help to create efficiencies, save money, "he said.
"We want to be the state in the Midwest that everyone turns to."
Husted has mentioned the use of the blockchain to make it easier for Ohioians to share their information with the government. Agencies should work together to share data, Husted said, and if blockchain could create a secure online identity with all the information from an Ohioan they could easily use with any agency. Doing so would reduce the documents.
Leading afternoon speaker Joseph Lubin, co-founder of the Ethereum blockchain system, talked about creating an online identity with blockchain in his speech. Here, more information on the topic.
