SparkChain Capital have plans to invest around $100 Million on those companies trying to develop the services related to cryptocurrencies and blockchain.
If you look back at the last 18 months, you will find that there have been plenty of companies who have invested in blockchain related startups. The main reason behind such investments is because they are helping to find the solution to some of the problems which are affecting the entire world. SparkChain Capital also wants to help the blockchain technology grow and they have plans to invest around 100 Million Dollars. SparkChain Capital will focus on those companies which are trying to help develop the services related to cryptocurrencies and blockchain. They will not invest in those companies which are involved in cryptocurrency trading.
They will provide funds to mainly those companies which are trying to raise Series A funds. They are going to invest in several startups and investment in each startup will range somewhere between 1 Million Dollar to 3 Million Dollars.
Stellar is the name of a non-profit organization which works to make sure that every people get easy access to money transfer facilities. In order to make this happen, they are trying to connect the various financial systems all across the world and they have also entered into a partnership with IBM. Joyce Kim, who is the managing partner of Spark Labs was the co-founder of this company. Later on, she switched to Spark Labs.
Spark Labs is mainly known for their work in the various Asian countries. Seoul was the destination for their startup program and later on, they expanded to various other countries like Hong Kong and Beijing.
SparkLabs have already invested in various Asian companies like Blockco which is a blockchain based startup. They have also invested in the South Korean company Sentbe.
As per Kim, Blockco is an excellent company and they have a very good record so far. They are one of the few companies which are actually contributing heavily to the growing cryptocurrency scene.
One of the best things about Blockco is that they are focusing on the long-term growth of the company. Their various interventions have already saved customer plenty of money.
Initially, when Kim started working in this field, she observed that most people believed that Blockchain and cryptocurrency are two completely different technologies. However, now companies are trying to figure out a way so that the two companies can start working together.
Nowadays, you will find that the blockchain technology is helping the various financial systems to expand their reach. Previously, it was not possible because the technology was too backward. But with blockchain, it is very much probable.
Money remittance is one field where Blockchain technology has made a huge impact so far. However, it is not just limited to that. Blockchain has also made it easy to store a large volume of data in a very safe and secure way.
Previously, my job was to help an entrepreneur find the solution. Now, I let the entrepreneurs find the solutions themselves. I have worked in many places like Africa, Silicon Valley, and Asia and I have seen plenty of people have various problems related to financial transactions. Hence, the opportunities are actually endless.
The main problem is that people have to start investing beyond the popular markets like China and Silicon Valley. This is a global issue and hence global investment is required.