A new Ethereum-based startup called String Labs is trying to amp up autonomous financing by funding projects based on Open Chains. The team says they are only committed to helping “open blockchain finance systems and DAOs” and the funds are meant to unleash the power of “true disintermediation.”
String Labs believes private or federated chains only give legacy institutions an edge with open chain solutions this helps everyone in the world. The company is headquartered in California and its mission states it is dedicated to “autonomous finance.” String Labs has announced an Open Chain grant platform that aims to advance innovation within the distributed ledger technology environment. The startup will offer rewards between $2,000-10,000 so initiatives can have initial capital to get the project rolling forward. String Labs states its primary goals on the firm’s website saying:
“We are developing “open chain” decentralized financial systems. Our focus is mass market. Projects include systems supporting decentralized lending, savings accounts with interest, stable currency and synthetic mirrors of common assets.”
Projects applying must have their source code under MIT or another type of license. Everything must be interoperable with the Ethereum blockchain and have clear objectives for
Read more ... source: LiveBitcoinNews
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