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JumpStart Invests Millions of Dollars For Blockchain Startups

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JumpStart Invests Millions of Dollars For Blockchain Startups

Jumpstart, non-profit entrepreneur resources and ecosystem in Ohio will provide millions of dollars in funding for blockchain startups. According to Cleveland.com’s on December 3, 2018, Jumpstart, as well as six other funds from Ohio will invest in early-stage blockchain-related startups that are exploring public ledger solutions tailored to businesses and  Government.

JumpStart to Invest $200 Million Over Next Three Years

Although Jumpstart and other funds are looking to invest $100 million initially, Ray Leach, the entrepreneur resources center’s CEO announced on Sunday, December 2, 2018, that the investment teams plan to funnel $200 million over the next three years for blockchain companies that can leverage Ohio’s Opportunity Zones.

These zones are considered great tax havens for investors as they provide significant incentives to boost economic development in poor and low-income neighborhoods.

Leach announced the investment at the official opening events for the Blockland Solutions Conference. The event was a great success as the four-day Conference was sold out. The organizers are hopeful that a successful conference is just the beginning of Ohio’s emerging blockchain community. Joseph Lubin, the co-founder of Ethereum, was also present at the even. He explored issues concerning online identity and blockchain technology in his speech.

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The InnovateOhio Initiative

Lt Governor-elect Jon Husted also spoke at the Blockland Solutions Conference about the InnovateOhio initiative. The project’s goal is to leverage new technologies to make the local Government more tech-savvy. These include providing more online services and funding workforce credentials and workshops for Ohio workers who are interested in boosting their skills and gain new job opportunities.

At the Conference, Husted noted that blockchain technology should help the people of Ohio share information more efficiently with the government. The blockchain could also protect a user’s identity since it can create a secure, online identity with the information required and can be interoperable with other Government agencies. Interoperability and digital identifications would help significantly cut down on unnecessary paperwork.

“If you would like the Government to be more involved in our lives, it’s a good thing for you because if the government works better, they have more confidence in it,” said Husted. “If you’re one of those people that thinks you want government less in your life, that’s good too.

Husted added that implementing new technologies will be disruptive. However, it will b constructive and will bring new efficiencies and save the government and people money. Husted mentioned that ideally, Ohio becomes the state in the Midwest that everybody looks and turns to blockchain technology.

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