Blockchain startups could anticipate a better financial gain. Ethereum startup and incubator ConsenSys has announced a $50 million venture fund for any startup leveraging blockchain technology.
Kavita Gupta, investment specialist, will be leading the fund called ConsenSys Ventures. ConsenSys founder and Ethereum co-founder Joe Lubin will be involved in the fund management.
Kavita Gupta believes that ICOs have gained tremendous success, but there’s still a lot to learn from traditional venture capital.
Startups may be able to generate good value based on a brilliant whitepaper, but when it comes to delivering a company, they may lack the experience. This is where the need support to grow and deliver.
Gupta is the winner of UN Social Finance innovator Award of the year 2015. She says that the United Nations has nearly all of the 17 Sustainable Development Goals based on blockchain applications. Their projects intend to eradicate poverty, ensure universal education and facilitate several other activities of social welfare by 2030.
Personally, she is interested in exploring blockchain technology having social and environmental implications. To live the dreams, the firm has enrolled around 150 former bankers, techies, mathematicians, engineers and management consultants. These professionals will help and support the development of blockchain based services and business models that will leave impressions worldwide. The prime focus of the company is to be able to portray how the emerging digital transaction infrastructure will transform the lives of economically unstable people across the world.
In general, the world is making a move to adopt blockchain technology that can promote decentralized transactions. Blockchain, a digital distributed ledger, ensures the security of information because of its immutable nature and thus prevents data theft or alteration.
A number of industries including banking, insurance, retail, food and logistics are in the way of implementing blockchain technology to ensure data security and transparency.