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Bitmain’s Permissionless Ventures Launches First Project ‘BCH Dev Con’

Cryptocurrency mining hardware giant, Bitmain, is sponsoring a Bitcoin Cash hackathon in the United States — San Francisco, to be exact. For the China-based company, BCH Dev Con is the 1st project financed by its $50M fund, Permissionless Ventures (PV).

Bitmain’s Permissionless Ventures Launches First Project

The crypto mining giant Bitmain, announced its 1st project connected with its Permissionless Ventures. Hilton San Francisco Union Square will be the venue to host the 1st BCH Dev Con, a BCH hackathon series. Over two days, on October 10th and 11th, the series will debut during the San Francisco Blockchain Week among some 5k visitors and attendees. BCH Dev Con is a way to encourage innovation and problem solving on the BCH network, including working with tokenization and smart contract platforms such as Wormhole, the company claims.

Epperly Li, Investment Director at Bitmain and Partner in its Permissionless Ventures, insists the $50M PV fund “will operate more like an incubator, which will provide funding and also incubation for BCH developers. But this fund will be very neutral, open and creative, and will invest 60% into BCH projects and the other 40% into different blockchain projects.”

Coinbase, Factom, and Money Button to be Among Hackathon Judges

Ms. Li said: “Our idea is to build an open, innovative and creative ecosystem for BCH developers and communities. We want to work together with different blockchain communities to push forward the progress of blockchain technology.” It appears the BCH Dev Con San Francisco will expand to Amsterdam, Israel, Japan, South Korea, and India, though concrete plans are not readily public at the time of publication. So far, the announced judging panel includes David Johnston of Factom, Shammah Chancellor from Bitcoin-ABC, Ryan X Charles of Moneybutton.com, Jiazhi Jiang from Wormhole, Josh Ellithorpe of Coinbase, and Gabriel Cardona from Bitbox. Evaluation is based upon 5 criteria: understanding of Blockchain technology, practicability, scalability, creativity, and BCH score.

Epperly Li

The hackathon’s principal focus, BCH, was done deliberately, according to the website. “To be honest,” organizers posted, “BCH is among the most amazing Blockchain technologies we have ever seen in terms of its scalability, security and potentiality with smart contract in the future. There are some outstanding projects operating based on BCH or associated with BCH, for instance: Yours.org, Purse.io, Wormhole project, Simple Ledger Protocol (SLP) and many more. We intend to attract more developers through these events and eventually build a stronger community with real-world use cases.” More information and registration can be found here.

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