Blockchain Fund Launched By Reflective Venture Partnersbr>
Newly formed blockchain-focused fund Reflective Venture Partners has announced its initial fund in the amount of 100 million RHOC token (approx. 180M USD) to support and incubate early-stage blockchain startups. RHOC token is RChain Cooperative’s native cryptocurrency.
The fund will invest in startups that are developing blockchain-specific distributed applications (dApps) and decentralized solutions. Reflective plans to fund a minimum of twelve dApps this year, and over the course of the year will mentor and directly assist with each startup’s respective deployment onto the RChain blockchain platform. The goal is to advance an open-source, decentralized, proof-of-stake platform that addresses the deficiencies of existing blockchain architecture through speed, scale, and versatility.
RChain Cooperative, a third-generation blockchain platform, is the brainchild of Greg Meredith, a mathematician and software engineer who has previously worked at several high-tech companies, including Microsoft. RChain will allow developers to build self-sufficient, high-performance applications with built-in industrial grade scalability and speed.
Reflective’s executive management team will combine its mentorship programs with RChain’s senior leadership to provide funded startups with direct access to industry veterans from the likes of Amazon, Google, Microsoft and Facebook.
Reflective Venture Partners Managing Partner Greg Heuss said they are committed to funding, incubating, and ultimately building the next generation of blockchain innovation.
“Our team’s senior leadership will leverage its experience to evaluate, staff, and build each incubated company’s team, as well as train and provide hands-on access to the RChain blockchain platform,” said Heuss.
RChain Cooperative President Greg Meredith said RChain is utilizing the programming language Rholang to address scalability and smart contract security with the intent of developing a blockchain platform that can scale to safely process transaction loads at much greater throughput than current architecture permits.
“We are thrilled to work directly with Reflective Venture Partners to identify and deploy blockchain startups on the RChain platform,” said Meredith. “Our work with Reflective is a critical component of our overarching strategy aimed at increasing awareness, interest and adoption among early stage blockchain-specific dApps, talented developers, business enterprises, and consumers.”