Posted on

Lightning Speed: Accelerators And Incubators Focus Their Sights On Bitcoin

You know what incubators and accelerators mean: interest. They say that bear markets are for builders, and the bitcoin ecosystem seems to be getting ready to work. One of the main catalysts is the success of the Lightning Network. The little engine that could went from being constantly mocked to being a key element in the El Salvador story. Nowadays, the Lightning Network is the bitcoin ecosystem’s absolute star and one of the reasons money is pouring in.

The three accelerators and incubators that this article will consider couldn’t be more different from each other, but they share the bitcoin-only ethos. And an unhealthy interest in the Lightning Network. From a Jack Dorsey-funded initiative, to a corporate ultra-deluxe opportunity, to a bunch of technically minded individuals that opened their doors in the name of bitcoin. Pick your poison, there’s probably an accelerator for you here. 

The TBD Open-Source Incubation Program

The Jack Dorsey-funded organization that’s working in the decentralized bitcoin exchange TBDex can probably help your bitcoin project. They recently announced the TBD Open Source Incubation Program, but there’s not much practical info on it yet. “TBD Incubation projects are managed by community contributors. They advance the decentralized web and accelerate development and adoption of the Web5 platform,” the company wrote.

They did specify that the program was focused on Open-Source projects and said that TBD will “soon be announcing our first Incubation project!” The announcement also promised that “when projects reach maturity, they may apply to be promoted out of Incubation into a central project,” so the TBD program might turn into an accelerator over time.

BTCUSD price chart for 11/03/2022 - TradingView

BTC price chart for 11/03/2022 on Bitstamp | Source: BTC/USD on TradingView.com

The Wolf Startup Accelerators Focused Exclusively On Lightning

This is the corporate one. This is the deluxe one. It’s run by “Stone Ridge, owner of an alternatives asset manager that has raised more than $40B since inception and parent of bitcoin company NYDIG.” Among other things, they offer, “transportation to NYC and lodging for the duration of the 8-week program are included from anywhere in the world.” The program is exclusively focused on the Lightning Network.“Wolf accepts applications from individual founders and small teams at the pre-seed idea stage up through those ready for a Series A financing round.”

The investments are also deluxe, selected developers get a $250K guaranteed seed funding, so they can focus all of their attention on the project. Also, “at the end of each program, one team will be chosen by a panel of judges to receive an additional $500K in funding.” That, plus all the knowledge you and your team can collect in those eight weeks.

The Pleb Lab Co-Working/ Accelerators

In contrast, Pleb Lab is “a co-working / accelerator in Austin, Texas at the heart of the financial district. We support outstanding projects and teams in several ways.” They are bitcoin-only, with a focus on “the Lightning Network – an essential step towards decentralized finance.” Their other focus is free and open-source development, “the FOSS ethos is at the center of what we do here at Pleb Lab.”

What does the Pleb Lab accelerator do, exactly?

  • “Working directly with Bitcoin & Lightning startups”

  • “Granting workspace among other brilliant Bitcoin developers at Pleb Lab”

  • “Providing startup advisory and mentoring”

  • “Providing business development, marketing and strategy”

The Austin bitcoin scene is growing by the minute, and Pleb Lab is right there in the middle of it. Apparently, one of its best characteristics is to be in the same room with other bitcoin developers trying to solve similar problems to yours. As you might imagine, they all help each other. This one is not a competition and there are no obvious prizes.

Featured Image: Pleb Lab logo from their website | Charts by TradingView

Posted on

Subsidiary Of Block Inc. Collaborates With Circle To Promote Global USDC Adoption

One of the expectations of the crypto community is adoption, a journey on which USDC has embarked. The more countries adopt crypto and its products, the better the industry thrives in value and utility. That’s why the reports of adoptions always evoke a sense of satisfaction in enthusiasts.

Following cryptocurrency adoption reports from different countries year after year, 2020 and 2021 recorded the most global adoption based on transaction volumes. However, from quarter three of 2021 to 2022, the crypto adoption slightly leveled off the challenging market conditions.

However, despite the decline, the market has remained resilient, and long-term crypto investors continue to hold on, hoping for better outcomes. The Crypto industry Stakeholders try to explore endless options to enable the mainstream adoption of cryptocurrencies globally.

A recent report revealed that TBD, a subsidiary of Block Inc., has formed a collaboration with Circle to work on open-source and open-standard technologies. In addition, the partnership aims to promote the adoption of digital currencies for global transactions and financial applications.

Details Of The TBD-Circle Collaboration

TBD is an open-source platform that allows developers to create products and services on decentralized technologies. TBD plans to connect traditional payments and decentralized financial systems to promote digital currency through its products.

Block Inc. is a multinational tech firm founded by Jack Dorsey and co-founder Jim McKelvey. Block has many subsidiaries, such as Square, Cash App, Afterpay, and lots more. The company’s subsidiaries are majorly payments Platforms. It also owns a digital music streaming company known as Tidal. Block invested 1% of its total asset into Bitcoin in 2020.

On September 29, TBD posted a tweet announcing its partnership with Circle to support cross-border remittance and self-custody of USDC stablecoin. The circle is a global financial tech company that helps businesses and developers explore the power of digital currencies for payment and internet commerce worldwide.

The collaboration between TBD and Circle would undoubtedly yield benefits for the crypto industry. The Chief operating officer of TBD, Emily Chiu, thinks BTC is a potential reserve currency and might challenge the USD in the future. Chiu also feels the stablecoins would become the bridge between USD and BTC future.

Bitcoin on its way to closing above $19,500 l BTCUSDT on tradingview.com
TBD to Support USDC Use Cases For Cross-border Remittance

In the collaboration, TBD plans to support USDC in use cases. These use cases would enable developers to build on Block’s tbDEX protocol and Web5 decentralized identity platform.

The use cases include global real-time and low-cost remittance and self-custody USD-backed stablecoin wallets. The use cases would also enable businesses and consumers to make traditional payments using digital assets.

In the current US Feds’ monetary tightening policy and inflation, currencies of many countries have devaluated. As a result, the stablecoins are now remittance and savings alternatives.

TBD intends to support remittance in the United States and Mexico, targeting India, and the Philippines, the world’s largest remittance recipients. Mexico receives 95% of the remittances that come from the United States.

Featured Image Pixabay, Charts From Tradingview.com