The tech giant IBM and the conglomerate of telecoms named Comcast have decided to back up an investment fund that is focused on scaling startups in the blockchain field. These startups actually help enterprises to use the blockchain technology.
The idea is to invest in blockchain startups globally and ultimately connect them with the big names in the Fortune 500 list. This has been adopted by MState, a startup accelerator that is co-founded by Rob Bailey.
In an interview with Bloomberg, Rob said that the accelerator is seeking to invest $25,000 to $50,000 each in five or six companies in the next six months. As he said, “There is a massive opportunity in Fortune 500 companies – they just don’t know which companies to work with.”
While comcast is offering funding, IBM will provide services to MState. The vice president for blockchain strategy and ecosystem development at IBM, Janine Grasso, confirmed all of this and said that their company might also help entrepreneurs who “don’t make the cut for MState”.
According to Bailey’s statement below…
“In 2018, we will see a growing number of enterprise blockchain use cases go mainstream from healthcare applications to government, supply chain and retail to the real estate and transportation industries,”
…It is easy to see why blockchain is becoming a field of many investments and has massive potential in many industries. However, it is up to us to see whether this is only
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