Lisk Invests $1 Million in Lisk-Focused Blockchain Incubator

Image courtesy of Lisk.

In an effort led by Lisk’s community members, the first-ever Lisk-based blockchain incubator, Elite Center, was announced in China earlier this month.

A Xiamen-based Incubator Created and Funded by Lisk

The initiative was kickstarted with a $1 million investment from Lisk which regularly encourages its community to be creative in its endeavors. The incubator held its inaugural conference in Xiamen and welcomed many guests from all around the country — from Lisk delegates to Wu Zilong, a Xiamen-based Bitcoin evangelist, blockchain investment institutions, media outlets, and cryptocurrency exchanges.

Elite Center is led by Luiz, a community member, and Lisk delegate. The initiative came from the so-called Elite Group which has focused on raising awareness on Lisk and sharing investment opportunities on Lisk-based projects with Lisk supporters.

Incubees Can Set Up Shop at Elite Center’s Headquarters

The incubator opened a 500 square meter office in Xiamen which will serve as a base of operations for the group, as well as for the chosen ‘incubees’. Apart from office space, projects will have at their disposal additional services, such as project managers and recruitment services.

The project aims to help blockchain companies surpass the various obstacles stand in their way. Elite Center plans on providing professional training to these enterprises, with topics ranging from entrepreneurship counseling to community management, marketing training, and public relations.

Lisk is Slowly but Steadily Paving Its Path

Although no names have been mentioned, Lisk announced the incubator is already eyeing two projects. Following the release of the Lisk’s SDK, the initiative expects to work with at least five blockchain projects within the next six-month period.

Lisk has been having quite the month, even if it’s following can’t compare to that of Ethereum or NEO, it’s direct competitors. The popular Trezor wallets finally added support for LSK, and OKEx added the trading pairs LSK/BTC, LSK/ETH, and LSK/USD.

All the Elite Center needs to wait for now is the launch of Lisk’s SDK so it can get started — without it, no Lisk-based projects can really work.

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Malta Has Rightfully Earned Its “Blockchain Island” Nickname

Malta has long been known as the favorite destination of iGaming companies around the world. Now it seems the island is shifting from online gambling to the novel blockchain technology.

Malta is Ready To Welcome Blockchain Technology and All Its Friends

The country made history when it became the first in the world to offer “legal certainty” to the blockchain industry. On July 4, Malta passed three bills the Innovative Technological Arrangement and Services Act, the Malta Digital Innovation Authority Act, and the Virtual Financial Asset Act.

Earlier this year, back in March, the world’s largest cryptocurrency exchange, Binance, decided to relocate to Malta. Once again, the island’s Prime Minister cheerfully welcomed the move, saying,

“We aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world-class fintech companies.”

Malta Makes History Again, Starting a Partnership With OKex and Fifth Force

Now the Malta Stock Exchange has announced a subsidiary called MSX. The purpose was to sign two Memoranda of Understanding with OKEx and Fifth Force. OKEx is one of the largest cryptocurrency exchanges in the world, and German Fifth Force is the name behind Neufund, a blockchain-based equity fundraising platform.

The joint venture between MSX and OKEx will bring the life a new entity, OKMSX, which will operate an institutional grade exchange platform for security tokens. With Fifth Force, MSX opens to build the first regulated global stock exchange in the world operating on a blockchain.

Joe Portelli, Malta Stock Exchange’s chairman, said, “Malta is on the cusp of becoming a center of excellence within the global digital innovation landscape. These partnerships leverage our expertise on the compliance and regulatory front to truly be a trailblazer within the security token sector.”

Fifth Force’s own statement added the partnership included Binance. Together with MSX, the trio plans on releasing a pilot program later this year which would tokenize equity to be later traded on Binance. Reportedly, the pilot would include an initial public offering (IPO) of these tokens.

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India is Building a City with the Help of Blockchain

Newly formed Southern Indian State calls for a new capital. The nation decided to turn it into a state-of-the-art smart city.

The Capital Region Development Authority (CRDA) of Andhra Pradesh, the new Indian state, has been approaching landowners since December 2017 to educate them on what blockchain technology is.

Indian Officials Bet on Blockchain for Security

The commissioner of CRDA, Cherukuri Sreedhar, believes the blockchain will help this enterprise keep its records straight. In a recent interview to Quartz India, he said,

“We want to give a very clear, risk-free kind of title to the farmers. One of these steps (blockchain) is to ensure the data that is with the CRDA is safe and can be traced back at any given point of time so security of title is always maintained.”

The CRDA was the agency tasked with developing and designing the new capital and it has been pooling land to build Amaravati, the new capital. The blockchain has been used to streamline the whole process — registration, allocating plots, storing the data, — and prevent fraud.

Landowners are Onboard and Pleased with the Novel Approach

Thanks to automation, the use of blockchain will also save money to farmers — there is no need now to hire a document writer to draft registration papers. Tharigopula Sambasiva Rao, a 50-year-old landowner who gave up his land, praised the initiative, saying,

“Now we don’t have the headache of hiring a document writer to prepare our papers. With this new technology, we knew there would be full security, no double registrations, no duplicates.”

An India-based blockchain solutions provider, Zebi, worked with governmental officials to bring the technological city to life. Babu Munagala, co-founder and CEO at Zebi, believes this blockchain-powered enterprise will prevent data tampering and hacking attacks — all data is available to landowners to ensure transparency.

The CRDA insisted this blockchain-solution will not only stop criminal and malicious activities but also serve as a guarantee for the future. Regardless of whatever happens, the land registrations in the blockchain are permanent and will be the key to solving future disputes.

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Interested in other cool crypto posts….check out What happens when the last Bitcoin is mined?and The Price of Bitcoin vs Cost of Mining.

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