Buenos Aires liked the idea of co-financing blockchain startups. Binance Crypto Exchange in the face of the research and strategic division of Binance Labs announced that every startup that supports Binance Labs or the organization LatamEx will also receive funding from the state treasury of Argentina for up to 50 thousand dollars.
In particular, we are talking about the fact that the Ministry of Industry and Labor of the country intends to finance in this way up to ten projects over the next four years.
It is worth noting that due to the devaluation of the Argentine peso, which was 20% in 2018, interest in cryptocurrency in this country has grown. Currently there are about 260 outlets in the country that accept cryptocurrencies.
In addition, bitcoins are suitable, for example, to replenish SUBE cards, in order to use them when traveling by public transport, including the subway. In Argentina, you can also make an international financial transaction using cryptocurrency. In 2018, the country completed with the addition of seven new cryptomattes , of which five were installed in the capital, Buenos Aires.
It is not surprising that in such a situation Binance expects a growth in interest in cryptocurrencies and beyond: the organization has already begun to conduct a 10-week incubator program for blockchain startups from scratch.
As Ella Jean, the current head of Binance Labs, noted, the company intends to realize the potential of a distributed registry technology "at 100%":
“The organization plans to teach and give advice to startups to make it easier for them to find their market niche, as well as to provide them with access to those global changes in the blockchain sphere that will help them solve problems at their local level.”
Publication date 10.03.2019
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