Linux Foundation Blockchain VC Fund Partners With MiChain Foundation

April 23 05:00 2019

It’s often said that the dramatic fall of crypto prices last year ushered in a new era for technology-focused startups in the blockchain space, and the same argument can be made for the venture capitalists who fund them.

“For MiChain, it’s obvious, they already have a product to go with it,” CEO of Linux Foundation told TechCrunch in an interview, referencing the fact that Linux Foundation is keen to invest in blockchain services and startups to build an ecosystem for its play.

Linux Foundationas a VC Fund Partners with MiChain Foundation to develop MICHAIN.

According to the Linux Foundationprofile, it will have a particular focus on Asian markets and emerging Blockchain economies.

According to TechCrunch, the fund includes a partnership with Michain, combines the elements of Internet of Things (IoT) and Finance for the entry points, for creating the brand new IoT and Fintech platform through Blockchain underlying technology to support the whole ecological digitizationand potentially other Michain blockchain ventures.

Linux Foundation, who has invested in more than 50 tech startups, stressed that the setup of Proof of Capital is traditional, noting that the team comes from a “more traditional VC background.”

Recently, Linux Foundation investment arm project XToken invested in early-stage blockchain firm Robot Ventures. XToken is a decentralized multi-cryptocurrency ecology wallet which leading in Asian Markets.

“Many projects that raised ICO really smelt like equity,” said CEO of Linux Foundation. “We are seeing companies today delaying token issuance as much as possible; the whole thing has gone a little more back to earth.”

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