Zcash, a privacy-focused coin founded in 2015, received a great response to its 2017 ‘Grant Program’ initiative and has decided to continue its program to fund blockchain projects. On April 20, Zcash updated the program’s policies for Q2 of 2018.
Cryptocurrency started out as a decentralized, secure mechanism for enabling cross-border payments while eliminating the requirement of trusting a third-party intermediary. From here, cryptocurrency grew to other avenues, becoming a subset of a larger, decentralized business ecosystem.
In true business ethos, a few coin companies and developer teams extend support to philanthropic causes and CSR activities, giving away portions of their development funds for noble causes.
While this represents social engagement, a few other successful teams lay and fund the groundwork for technical engagement, ensuring deserving blockchain teams contribute to the growing decentralized environment.
According to its blog release:
“The scope of activities is broad, and can include: software development (e.g., wallet software, libraries, etc.), infrastructure development and maintenance (e.g., hosting forums and block explorer services, etc.), education and outreach, science and research, and many more.”
Post Zcash’s success in this regard, the team updated its grants policy on April 20, 2018, presumably to accommodate a larger number of businesses working in the blockchain sector.
Some crucial updates for the updated 2018 Q2 Grant Program include:
- Pseudonyms and reporting requirements to get their policies clarified.
- Every coding project that releases their work are expected to be open source.
- The ZCash Foundation’s General Mailing List will be receiving an added requirement; monthly period updates.
- The initial amount of $125,000 to be matched by the BlockChain Institute, with the new award amount that of $250,000.
The ZCash Foundation positions itself as a non-profit organization and takes an interest in projects that work for the greater good of the public, rather than the self-inclined, questionable types.
An Update of the 2017 Q4 Grant Awardees
Busy working on the projects individually, the 2017 Q4 awardees are not bound to regularly update on the status, however, a few of them are actively participating.
Once a few open source codes are ready, the community will be reviewing them as and when the projects are done being polished.
The period to submit a regular project report is six months, and all the grant awardees are expected to comply.