Colombia’s capital city eyes for the success of Hub Blockchain Bogotá

Colombia’s capital city eyes for the success of Hub Blockchain Bogotá

BUSINESS | Jun 26, 2021 | WOZINGA NEWS

Colombia's capital city eyes for the success of Hub Blockchain Bogota

  • Bogotá Mayor Claudia López invited local firms to apply for the blockchain program. 
  • FITIC had opened the application to finance blockchain firms starting June 25. 

By Marielle Petere Wozinga Journalist

Colombia's capital city eyes for the success of Hub Blockchain Bogota

Bogotá City has started to implement the “Hub Blockchain Bogotá” program. The city has released 2.8 billion pesos ($750,000) to fund blockchain development.

For this aspect, Bogotá, the capital city of Colombia, has a new implementation. It is for the city’s innovation and tech development. The Hub Blockchain Bogotá is one of its four innovations, roughly worth 8 billion Colombian pesos.

Capital's blockchain program

On June 25, CoinDesk and other news media outlets reported the function of the FITIC. It means Bogotá Innovation, Technology, and Creative Industries Fund. It had opened the application to finance blockchain firms starting June 25.

Also, Nasdaq reported the announcement of the Colombian magazine Semana. The publication had announced on June 22 about the development program.

At the time of Nasdaq’s release on Friday, it said that every startup could hold 10 million ($2,600) up to 50 million ($13,300) with financial advice. Since only 100 companies could avail of the fund, every firm has to submit a proposal to FITIC.

Smart city, the future of Bogotá

Meanwhile, this development plan has gained lots of support from several entities. To name some of its supporters, these are Jorge Tadeo Lozano University, Innpulsa, and Biointropic y Tribe Accelerator Singapur.

In addition, Bogotá Mayor Claudia López posted on Twitter. She invited local firms to apply for the blockchain program beginning on June 25.

Another report said that the capital city has three programs that involve products, services, and innovative environmental businesses.

At some point, Cointelegraph relayed that this metropolis had become the headliner as the city launched the free online classes included blockchain technology.

CoinDesk also retold the growth of cryptocurrencies back in 2020 with 11.3% of the country’s global trading volume.

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