Blockchain Startup TrueBlocks Receives $120,000 Grant From Ethereum Foundation

Based in Philadelphia, blockchain startup TrueBlocks recently received a $120,000 grant from the Ethereum Foundation Grant Team, as reported by Smartereum.

Keep Moving Forward

TrueBlocks was provided the funding to continue its idea of an entirely decentralized way to retrieve data from Ethereum addresses or smart contracts. To put it simply, the founder of TrueBlocks, Thomas Jay Rush, states:

“I’m just trying to understand what you’d need to do [to] get data to as many people as possible without extracting privacy.”

The funding will back TrueBlocks’ research for the next six months. In working towards their mission, Rush is teaming with blockchain engineer Edward Mazurek to create open-source software libraries for developer access. In addition, the team will reportedly provide auditing, monitoring, and accounting services for their customers.

Transparency is what’s most important to Rush. In 2016, the founder moved his firm towards blockchain technology. Beforehand, the group was focused on calendaring and web-based scheduling for clients.

The change occurred due to Rush’s fascination with transparency. He believes that companies’ actions should be available to anyone at any time.

Rush shares his blockchain fascination with anyone who will listen. In Philadelphia, the founder regularly hosts blockchain meetups to get others involved.

The Ethereum Foundation and the Future of Blockchain

Of course, the Ethereum Foundation is meant to enhance the Ethereum blockchain. To do so, the group provides funding to different projects developing on its technology. The Foundation reaches out to these companies via its Grant Team.

Only a couple of months ago, the team provided $11 million to different organizations looking to develop on the Ethereum platform. The TrueBlocks donation was a part of the Foundation’s recent fourth wave of grants, in which it gave out around $4 million to 20 different groups.