Crowdstart Capital CSC has decided to donate 40% of its total XSC crypto currency supply to the European Blockchain Association EBA. The EBA‘s mission is to empower the blockchain ecosystem by synchronizing and leveraging blockchain-related activities of European corporations, startups, venture capitalists, and scientific institutes. In this endeavor, the CSC mission is well aligned with the EBA. Therefore, CSC will provide the EBA with Crowdstart Coins in order to reward its members‘ activities with free XSC.
The donation of XSC means a change of plans for CSC: the original plan was to implement Crowdvote, a crowd-based voting mechanism to distribute CrowdstartCoins XSC to the best blockchain projects out there.
We have experienced some major road blocks while working on the liquid voting system, mainly regarding the correctness and security of the voting mechanism. Then, we started the conversation with the newly founded European Blockchain Association that has a very similar agenda to ours regarding the question how to incentivize the blockchain community to actively and consistently add valuable code and other assets to the blockchain ecosystem.
The result of this conversation was to join forces and to provide the EBA with a major chunk of Crowdstart Coins XSC for free. The EBA will reward its members with XSC for different activities that add value to the ecosystem, e.g. adding code, participating in hackathons, organizing events, and more.
Crowdstart Capital will become an integral part of the EBA by taking over the role and function of its accelerator. The EBA has agreed upon leveraging CSC‘s startup accelerator model to promote blockchain-based startups throughout Europe. We really like the decentralized arrangement of the EBA – that should enable its members to join forces and synchronize efforts.
We think that these synergies will add value to the European blockchain ecosystem at large and we’re looking forward to working together with EBA‘s members!