IBM, Columbia University to Back 10 Blockchain Projects

The tech giant and the educational institution will support DLT ideas or initiatives under development through two blockchain accelerators.

US technology corporation IBM and New York-based Columbia University said on Monday that they would organize two accelerators in a search for new generation blockchain-powered projects. The first program targets initiative from around the globe while the second is focused on the university’s graduates.

The accelerators are part of the Columbia-IBM Center for Blockchain and Data Transparency and will back ten distributed ledger technology (DLT) projects. The programs will give access to workshops, student talent pools, and the IBM-Columbia University technical base. The accelerators will also provide business, academic, and technical mentors to the participating companies.

The first initiative, called IBM Blockchain Accelerator, eyes global firms that have already begun their DLT services. The activities will continue for around eight weeks in New York and San Francisco with the aim of testing the scaling capabilities of the blockchain projects. To participate in the program, the companies should be nominated by someone in their network including mentors, advisors, clients, or investors. Self-nomination is also allowed.

The nomination process is now open and will continue until December 7 while applications’ review and due diligence procedures should be done by December 21. IBM and Columbia University will conduct the interviews on January 4 with final decisions to be announced a week later.

“The possibilities presented by blockchain technology are seemingly endless, and we are seeing strong dedication by technical talent to build game-changing applications,” David Post, managing director at IBM Blockchain Accelerator, explained in the press release.

Columbia Blockchain Accelerator is the name of the second program, which targets ideas and pre-seed projects. The teams should be formed by Columbia University alumni or graduates from its affiliated educational and research institutions. The application procedure is expected to start in January.

Participation in the accelerators is free of charge.

IBM is very active in the blockchain sphere with several products. DLT services helped the giant to boost its revenue in the second quarter of this year.

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