Synereo Allocates $200k Fund for dApps Developers

A blockchain project aiming to decentralize social network and web application development has decided to allocate $200,000 for its top participants.

Synereo, as the project is titled, has called for signups from “decentralizers”, a term it uses for developers, entrepreneurs and curators passionate about decentralized economy systems. The Tel Aviv-based company aims to analyze these signups-cum-CVs, and select blockchain industry’s best minds to create decentralized applications — known as dApps — on the Synereo ecosystem. It stated:

“From among the applicants, we will select the best 3 developers/teams that wish to create dApps. The fund will also be given to the 3 developers/teams that want to develop the open-source platform, as well as to 3-8 curators who will help Synereo decide how to allocate the grant money.”

“The purpose of on-boarding curators,” the company added, “is to decentralize the grant giving mechanism. Curators will allow Synereo to scale the operation, and help democratize the grant-awarding process.”

Synereo lately has garnered attention for its claims of developing the internet’s first decentralized social network, where no centralize authority would have control over users’ content and personal information. The project, which was in development stage for the last two years, further aims to bring which it calls

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