Recently we reported, that Cleveland wants to be the blockchain hub of America. That isn’t it. JumpStart, along with six other funds from across Ohio, plan to invest $100 million in early-stage startups, and all of them are interested in startups that focus on using blockchain technology for business or government, like using the online ledger system to store government documents.
In additon to that, FlashStarts, a local venture fund and business accelerator, also announced a $6 million pre-seed fund for blockchain startups.
Though nothing official has been announced, Leach also said additional investment teams plan to make $200 million over the next three years available for blockchain companies that take advantage of Ohio’s “Opportunity Zones.” The zones provide tax incentives for investors advocates hope could spur economic development in poor neighborhoods.
The announcement was part of the official opening events for the Blockland Solutions conference that occurred today.
The project aims to make Ohio’s government more tech-savvy, including putting more processes online and funding workforce credentials for Ohio workers who want to advance their skills and job opportunities.
All these fundings will definitely make an impact on the way people think about blockchain and crypto investing. It will be disruptive in a way, in a constructive way, that will help create efficiencies, save money, and build future technology.