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Ohio funds will pay over $ 300 million in startup blockchain until 2021, Cleveland.com reported on December 3, citing senior executives.
Speaking at the ongoing Blockland Solutions conference, Ray Leach, the non-profit CEO of JumpStart, announced that a total of seven funds have been invested to invest $ 100 million in early-stage startups focusing on the use of technology blockchain for businesses or the government ".
Another $ 200 million was considered by "additional investment groups" for the blockchain outfits that work in Ohio's social assistance projects, dubbed "Opportunity Zones".
The moves come as the United States Buckeye State launches a pioneering scheme to allow companies, and ultimately individuals, to pay taxes using Bitcoin (BTC).
Separately, the local venture capital fund FlashStarts wants to contribute 6 million dollars in the form of a pre-seed fund also oriented towards startup blockchain.
Plans have not yet become official, Cleveland.com noted, but Blockland's politicians are still optimistic about the prospect of improving Ohio's appeal as an innovative technology environment.
"It will be disturbing in a way, in a constructive way, that will help create efficiencies, save money," Governor-elect Jon Husted said during his Sunday speech, adding:
"We want to be the state in the Midwest that everyone turns to."
The data published in October revealed that the number of job opportunities in both blockchain and Bitcoin has risen to a maximum of 10 months in August, although markets have declined.
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