Third-generation Blockchain platform, Aeternity has announced the creation of two foundations in Liechtenstein and Bulgaria to support crypto and blockchain innovative projects. The foundation will provide grants for blockchain and crypto-related educational and innovative projects. According to a press release by Aeternity, the foundation launched in Bulgaria will be focused on local projects brought up all around the Balkan Peninsula. The Liechtenstein project will, on the other hand, be focused on international projects. The two projects are to take up proposals from individuals and teams, then, conduct researches on the feasibility of the projects. However, the Aeternity crypto foundation will mainly provide the backbone for developmental efforts in cryptography,mathematics and Digital Ledger Technology.

Establishing a Support Structure for Global BlockchainEcosystem

It’s no news that the crypto community is gradually moving towards acceptance in the traditional financial system. To a great extent, Blockchain technology has been gaining traction in wider circles and could expand its base while bringing up cryptocurrencies with it. With the Aeternity foundations launched for providing financial and educational support for related innovative projects, it appears that the technology has moved one step closer to its goal. Aeternity founder, Yanislav Malahov supported this view in his comment about the foundations. He mentioned that the creation of the foundations was a step towards establishing a support system for the mainstream adoption of blockchain and crypto. Furthermore, he stated that the system will also create a support structure for the global blockchain ecosystem. Commenting on the future plans of the foundation, the Aeternity founder stated that the foundation will also partner with various educational institutions in the Balkan regions while offering scholarships to parties interested in learning more about blockchain technology. In support of each accepted innovative projects, grants worth one million CHF will be paid in cryptocurrency. Furthermore, the foundation will support developing ideas for dApps by lending resources to parties interested. Yanislov Malahov stated that the partnership with these educational institutions is set to provide a proper framework for the development of ideas that would in the future provide the solutions to the looming problems faced by various sectors. In addition to supporting blockchain researches, the foundation will provide a way to expand startups while bridging the gap between innovative technologies and the mainstream society. According to the Bulgarian Foundation’s Chairman, the foundation will seek ways to expand the benefits of blockchain technology to other parts of the world through the projects lined up.