Why join Algorand Asia Accelerator Project

On June 8th, 2020, the Application of Algorand Asia Accelerator, created by the Algorand Foundation, Capital Without Borders and LongHash Ventures, was officially opened and will continue until August 16th this year. The Aim of the Algorand Asia Accelerator is to encourage and facilitate blockchain development, particularly in collaboration with Finance 3.0 and above, and to empower selected projects to build, develop and promote financial innovation within the Algorand ecosystem.

Application link:https://www.longhashventures.com

What is Finance 3.0?

Finance 3.0, or open finance, is a new ecosystem of financial products and services based on blockchain technology, aiming to eliminate frictions in transactions, payments and global trade. A borderless and frictionless economy built on finance 3.0 principles includes, but is not limited to, a few examples of applications: digital securities, electronic and programmable payments using digital currencies and/or stabilisation COINS, real-time exchange of digital assets, and digital mortgages. From infrastructure to middleware, from technology and finance to institutional and retail applications, Algorand Asia Accelerator welcomes builders of all aspects of the finance 3.0 ecosystem.

Accelerator schedule

Application time: June 8 - August 16, 2020

Accelerator Project duration: October 19, 2020 - January 22, 2021

Why Algorand?

Experienced developers, industry-leading blockchain projects (IDEX, Tether, Securitize, etc.), and large organizations have all chosen Algorand. Why is that?

1 breakthrough core technology

Algorand solves the technical challenges that have held back mainstream blockchain applications for years: decentralization, scalability and security. Now you can build applications on a stable platform that you trust. Algorand consensus mechanism is a pure interest proof mechanism without permission. It ensures full participation, protection, and high speed in a truly decentralized network. Algorand is the first blockchain to provide immediate transaction finalization, with blocks coming out in seconds, no branching, and no uncertainty. Algorand's transaction throughput rivals that of large payment and financial networks.

2. Rapid and continuous innovation

Key Protocol upgrades to Algorand 2.0 were announced within just five months of the launch of the Algorand Master network, introducing powerful capabilities built into tier 1, such as Algorand Standard Assets, Atomic Transport and Algorand Smart contracts. These capabilities enable enterprise distributed applications to be built without sacrificing performance or security. The "Stateful support" smart contract, due out in the summer of 2020, will support tier 1 state storage and read account balances and other on-chain states, allowing developers to implement a wider variety of applications.

Expanding communities and ecosystems

The Algorand community is growing rapidly and resources are constantly being updated, making it easier for developers to build applications along the chain. The main resources are developer support programs, which include Java, JavaScript(Node. js nodes and browsers), Go-SDKs, REST APIs, and collaboration tools. As a result of sharing a great vision with Algorand, more and more companies based on Algorand are creating an emerging ecosystem collaboration project.

● Frequently asked Questions

Q: What are the qualifications/requirements for participating in the Incubation program?

A: Although we will consider the development and application level of progress, as long as you have A clear idea and A complete team can apply. You also need to build on the Algorand blockchain or make a significant contribution to the Algorand ecosystem.

Q: Will the accelerator only accept startups related to Finance 3.0 or fintech?
A: Although we focus on startups that work with Finance 3.0, we are still open to projects in many industries, from supply chain to Web 3.0 to games.

Q: What are the conditions of the Algorand Asian Accelerator program?
A: There is no registration fee. The programme aims to provide the best support for outstanding projects, with start-ups receiving access to a rich network of resources, including mentors, technical partners and a global investor community. The shortlisted projects will receive an initial seed funding of $15,000 and we will discuss specific investment terms at the interview stage.

Q: How many companies will be selected for each batch of accelerator projects?
A: Our target is to select 10 companies, but it will also depend on the appropriate number of applications.

Q: What does the 12-week accelerator program look like?
A: The plan consists of three stages. The first is strategy and business model. We will introduce you to our mentor network and provide technical advice through professional workshops. The second phase will focus on the marketing execution strategy, where we will introduce you to potential partners/customers and support your brand promotion. The final stage is fundraising, and we'll introduce you to different investors. Throughout the accelerator program, we will introduce you to our expert and investor community and make the most of your projects at events that LongHash organizes or participates in, such as the Singapore Fintech Festival.

Q: My startup is not in Asia. Can I still apply?
A: Yes, we welcome and accept applications from all over the world. Asia is a major hub for blockchain activity, and there are many benefits to building a presence in the region. In particular, As a leading blockchain and financial technology center, Singapore is a golden springboard to a broader realm. For more details, see:https://www.enterpriseesg.gov.sg

Q: Do I need to stay in Singapore for the duration of the accelerator program?

A: We require at least one co-founder to personally participate in the seminar and investor exchange in Singapore within weeks 1, 2, 11 and 12. This requirement may be subject to change based on Singapore's travel permit.

Q: Will there be accommodation and office space?

A: Shared office space is available on request. But accommodation needs to be arranged by yourself.

Q: What is the selection process like?

A: The deadline for registration is August 16, Beijing time. After that, the selection process will continue for another four weeks, during which time each application will be screened by the research team and the shortlisted companies will be interviewed. Successful applicants will be notified in September 2020, one month before the official start of the Algorand Asia Accelerator Programme.

Q: When can I know if my project has been shortlisted?

A: We will contact you one month before the start of the accelerator program and provide you with all necessary information so that you will have enough time to prepare for the trip and accommodation.

Text link:https://mp.weixin.qq.com

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