EOS Unveils $1M Seed Funding Program at Sydney Hackathon

EOS’ enterprise enterprise arm will make investments $1 million in DApps created by individuals within the EOS international hackathon, as introduced on the Sydney hackfest.

Members within the EOS-organized international hackathon can get $1 million in seed funding from EOS VC to develop decentralized functions (DApps), the enterprise capital agency disclosed on the Sydney hackathon held final weekend.

The funding initiative, dubbed “Hack. Pitch. Launch.”, is about to speculate $50,000 in 5 groups from every of the 4 hackathon levels, EOS protocol launcher Block.one mentioned in a press launch on Sunday.

“Kicking off the ‘Hack. Pitch. Launch.’ program in Australia will depart behind a footprint of funding that may enhance the variety of progressive DAPPs on the EOSIO blockchain. We’ve seen many attention-grabbing concepts this weekend and we're excited to announce the primary spherical of investments within the coming weeks,” famous Block.one head of VC Brian Mehler.

The Sydney hackathon was the second competitors occasion run by EOS, following one in Hong Kong that befell in June. With the aim of exploring the probabilities of the EOS community, the Sydney hackathon noticed over 50 groups from totally different components of the world compete to construct DApps that assist maintain pure environments.

Three Australian groups acquired the highest awards. The primary prize of $100,000 went to SmartPress for a DApp meant to allow Australians to design and deploy good contracts even with out substantial coding and technical expertise. GreenKeep received the second prize of $25,000 for a blockchain app looking for to restrict meals waste by managing the availability chain. The third prize of $10,000 was awarded TokenTree for an app permitting millennials to nurture and observe lifecycles in an effort to fight deforestation in Australia.

“Blockchain know-how has proven its potential to be a game-changing know-how within the company world, nevertheless, its potential extends far past enterprise. The outcomes of at this time’s occasion present its functionality to be helpful to our surroundings and society as a complete,” commented Block.one president Rob Jesudason.

EOS will arrange a 3rd competitors occasion in London on September 22-23, whereas the placement of the ultimate hackfest continues to be unknown.