- Cardano’s IOHK has Offered $10,000 Bounty to Accelerate Sustainable Blockchain Projects in Partnership With the United Kingdom
- The News Comes Shortly After the Cardano Foundation Launches $250,000, Developer Fund
Cardano News Today – The United Nations has made its interest in blockchain technology clear. They understand that decentralized technology is going to play a role in the future of technology. Now, they are teaming up Cardano’s IOHK to offer the $10,000 bounty for sourcing out sustainable blockchain projects. This is going to help promote the UN’s overall blockchain promotion development goals. To qualify for the bounty, you must have a scalable, and open source project on the Cardano blockchain.
Cardano News Today – All Projects Will be Submitted Through Project Catalysts
It is specifically because of things like that that Cardano developers came up with Project Catalyst. Project Catalyst will be the platform through which all the projects are sourced. The Cardano community will decide which projects will receive the $10,000 bounty fund as long as their projects are seen as sustainable. Most of the projects that are created on blockchains are good but not sustainable long-term because they are not scalable. IOHK is interested in projects that can scale because these are the only projects that stand a chance for large scale adoption. They also need projects that offer real world use cases.
While scalability and usage are the two most important factors that are currently hindering the global adoption of cryptocurrencies, some other problems include energy consumption and interaction with fiat money. Cardano is much better than Bitcoin and many other blockchains when it comes to energy consumption and scalability. This is why the UN had decided to partner with IOHK. About five years ago, the United Nations created a project in charge of sustainable development goals. They came up with a blueprint containing 17 solutions for the numerous challenges in the world. They know that blockchain technology is going to play a key role in this future. Part of their statements was as follows;
“At IOHK, our mantra has always been to create environments where quiet brilliance can get loud, and with that in mind getting involved in this project was a no-brainer.”
Cardano News Today – IOHK’s New Bounty Comes Shortly After the $250,000 Project Funding
IOHK announced that they are dishing out $250,000 in funding for products that are approved through Project Catalyst. Charles Hoskinson, the CEO of IOHK and the Co-founder of Cardano has this to say;
“We can’t wait to see the innovative challenge submissions, and empower those behind them to realize their ideas, to bring some game-changing projects into fruition.”
Everyone is welcome to submit their projects for evaluation and possible funding as long as these projects are considered as advanced solutions that are in line with the UN’s blockchain goals.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.