France Closer to Becoming ICO Center with New Blockchain Accelerator

Chain Accelerator, a venture providing support for blockchain startup, launched on Monday in France.

Europe now has its first blockchain accelerator following the recent launch of Chain Accelerator in Paris, France. Comprising 30 industry experts and executives, it will help blockchain-oriented enterprises make their first steps in the market. The new entity will provide support related to initial coin offerings (ICO), marketing campaigns, and business development in general.

Chain Accelerator co-founder Nicolas Cantu commented:

“At a time when the President and the Government want to make Paris the capital of the ICOs, Chain Accelerator is positioning itself as a key player. By setting up a global and operational network in Paris, it brings together the best talent, extends the circle of contributors, and prepares for disruptions to help blockchain projects develop protocols in all sectors.”

The startup’s network of experts and mentors include Bibop Gresta, chairman and co-founder of Hyperloop Transportation Technologies; Leonard Schrank, former CEO of SWIFT; and Pascal Gauthier, president of Ledger. The list also features representatives and executives of companies like Libertus Capital, ST-Ericsson, Fidor Group, Swarm Fund, Orange, SparkChain Capital, FreshPlanet, HSBC, and Deezer.

Pierre Person, member of the French National Assembly for Paris, said that blockchain projects encounter several complexities in France. However, the disruptive technology will have an enormous impact on our daily lives, and it is essential for France to lead blockchain adoption, Person noted, adding that the launch of Chain Accelerator was an important step in that direction.

Despite being in its nascent stage, Chain Accelerator is already supporting 13 startups. During its six-month incubation program, the accelerator provides solutions to Gatecoin, Talao Solution, Gimli, Daneel, and Tribute, among others.

In March, French finance minister Bruno Le Maire said that the country should take concrete steps to become a hub for ICOs by creating a legal framework.

“France has every interest in becoming the first major financial center to propose an ad-hoc legislative framework that will allow companies initiating an ICO to demonstrate their seriousness to potential investors,” the minister stated then.