Qtum Chain Foundation, the blockchain platform, is launching a new Venture Capital fund that will be headquartered in its home office, in Stockholm, Sweden. It is called Qtum VC group and is designed to offer both funding and ideas to early-stage blockchain projects.
The Director of the group, Antonio Saaranen, commented:
“Our initial pledge for the fund will be $10M, and we’re open to partnering up with similar entities in the crypto space. We will have a blockchain agnostic approach in this fund and are willing to work with any projects that wish to contribute to the blockchain ecosystem as a whole. With this venture capital group, Qtum can take advantage of our team’s deep experience in blockchain and, at the same time, help aspiring projects hit the ground running and come to the market.”
Qtum has been very successful in the blockchain sector and is likely to continue to grow its presence globally. Some of the areas that Qtum VC is interested in supporting are green applications for blockchain, NFTs, and decentralized finance (DeFi). It will also look at layer 0 and layer 2 projects.
Qtum VC Has a Widening Market to Choose From
Many of the ideas that can help blockchain grow into an industry-standard technology have already been shown to be 100% viable in the real world. As blockchain solutions are developed further, many more small companies will adapt existing use cases to new markets.
Green energy is an especially interesting area that blockchain companies been successful in developing game-changing platforms. Power Ledger has developed technology that makes keeping track of small and medium-scale solar generation output easy, which completely changes the dynamics of a solar-based energy grid.
This technology can be adapted to other markets and other use cases.
From a technical perspective, it doesn’t really matter if a blockchain is keeping track of solar power or some other form of small-scale generation. The cost of developing platforms like the one Power Ledger has isn’t prohibitive, especially if it means more efficient use of a valuable resource.
There are, of course, many other ways that blockchain can be used in green technology, which is only one of the sectors that Qtum VC will likely support.
The Smart Money is Getting into Blockchain VC
A number of high-profile VC funds are entering the blockchain space. A16z is reportedly dedicating $1 billion to a new blockchain fund, and longstanding blockchain investor Pantera Capital is looking for another $600 million for a new fund that will be blockchain specific.
It isn’t difficult to see why intelligent investors are entering the blockchain VC space. Blockchain technology now has numerous successful rollouts and a robust global development environment.
The simple fact is that blockchain platforms create ways for new technology to be effective commercially, and also create ways for people to take full advantage of the global IT network.
In the case of DeFi, blockchain actually allows people to enter the financial system, and with blockchains like Qtum’s, avoid some of the pitfalls that both Bitcoin and Ethereum have fallen into.
While Bitcoin was an amazing first use of Blockchain, the Proof-of-Work (PoW) system it uses is a serious drawback. Unlike Bitcoin, Qtum uses a Proof-of-Stake (PoS) architecture, which means much lower costs, and higher speeds.
Now Qtum can take the lessons it learned in creating its blockchain, and help other companies to enter the market with well-developed ideas, and a solid footing.
There are many ways that blockchain-based systems can help make the world better, and with the kind of funding that is hitting the blockchain VC market, some great ideas will get the support they need.
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