The blockchain industry is about to get a major boost in Ohio as two startup accelerators are making plans to pump some money in. First, JumpStart is making plans to channel over $100 million into new blockchain firms. The news was initially reported by Clevelan.com on the 3rd of December. The accelerators intend to invest in blockchain firms that are either focused on governments or businesses within the state.
At the same time, FlashStarts, another accelerator, is planning to invest $6 million to blockchain startups to help them raise pre-seed funding. Both accelerators announced their plans during the Blockland Solutions Conference that took place in Cleveland recently. The CEO of JumpStart, Ray Leach was the one who announced the funding round. According to him, some other investment funds are planning to invest up to $200 million into blockchain startups within the next few years. Keep in mind that this news has not yet been confirmed yet.
Ohio And Blockchain Technology
Of all the states in the U.S. Ohio is the most pro-blockchain. Last week, it set a record as the first state that allows taxpayers to pay their taxes in Bitcoin (BTC). This move will go a long way to strengthening the reliability and credibility of BTC. For more information about this, read this article.
Bitcoin (BTC) Price Today – BTC / USD
In August, the state announced that it now legally recognizes data that is stored or transacted on the blockchain. It is no wonder lawmakers now refer to Ohio as the future hub of blockchain technology. If more states have the kind of clarity that Ohio has about the blockchain industry, the United States will become the birthplace of a new technological revolution that is going to change the world for the better.
Hopefully, because of Ohio, other states will be propelled to learn more about blockchain technology and how it can be applied to make life easier for citizens and businesses. If more governments start to explore the benefits of blockchain, the industry will mature faster than imagined.