Tag: blockchain

Blockchain accelerator gets major boost

The quick read

IBM and Comcast Ventures have agreed to back blockhain accelerator Mstate with services (IBM) and funding (Comcast Ventures). Comcast Ventures is Comcast’s venture capital arm. (Bloomberg) Galvanize’s venture fund and venture capital fund Boldstart Ventures are also backing Mstate. (Business Insider)

Key detail

The startup accelerator … plans to invest $25,000 to $50,000 apiece in five or six companies over the next six months. (Bloomberg)

Bottom line

Mstate is a chance for IBM and Comcast to identify blockchain technologies and companies much earlier in their development process than either company can right now.

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Telegram turns to blockchain and crypto to challenge WeChat

The quick read

The popular messaging system Telegram (100 million active users according to the company in 2016) is building its own blockchain platform and cryptocurrency. (TechCrunch)

The key facts

The “Telegram Open Network” (TON) will be a new, ‘third generation’ blockchain with superior capabilities, after Bitcoin and, later, Ethereum paved the way. The launch will be funded with an enormous Initial Coin Offering, with forthcoming private pre-sales ranging into the hundreds of millions, potentially making it one of the largest ICOs to date. (TechCrunch)

The bottom line

Telegram is positioning itself to be the global version of Chinese juggernaut WeChat. WeChat is much more than a messaging platform. It is the hub of mobile payments, commerce, social networking and communication in China. Tencent, which owns WeChat, is valued at more than $500 billion. Telegram is betting its new blockchain platform and cryptocurrency will propel it to similar heights.

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