Algorand Announces $43 Mln Grants Program to Foster ‘Borderless Economy’

Algorand Announces $43 Mln Grants Program to Foster ‘Borderless Economy’

The Algorand Foundation announced a 250 million ALGO (roughly $43 million) grants program to foster development on the Algorand blockchain on April 14. Cointelegraph spoke to Fangfang Chen, the Algorand Foundation’s head of operations, to find out more about the program.

Algorand launches $43 million grants program

The funds will be allocated to “qualified investors across four major categories: innovative research, development tools for the Algorand blockchain, use cases for decentralized applications (Dapps) [...], and education and community initiatives.” Chen emphasizes that the grants are intended to bring about the Algorand Foundation’s vision for a “borderless economy:” “In this vision, we see a global economy that is able to function in a frictionless way, enabling everybody to participate in the global economy, no matter where they are based. The goal of the 250M ALGO Grants Program is to encourage innovation and learning that achieves this vision of a borderless economy.” Read More...