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DFS Lab – the early-stage investor – and Stellar Development Foundation (SDF) have opened applications for their second Blockchain Bootcamp, designed to give early to mid-stage startups in Africa an opportunity to build on Stellar, an open-source blockchain network for financial services and products.
The bootcamp is a virtual three-day design sprint allowing participating companies to answer critical business questions with hands-on technical support and guidance from DFS Lab and SDF. Companies will define a problem, storyboard a solution, and develop a rapid prototype of their innovation. This is an exciting opportunity to support the blockchain-oriented ideas of African developers and startups, equip them with practical tools and education, and provide support to create viable solutions that fit local needs.
The most promising solutions will be awarded prizes from $5,000 to $20,000 worth of XLM, Stellar’s native currency. There will be opportunities for follow-on funding for additional grants, including potential investment from SDF’s Matching Fund and other investors who will be present at the demo day. Interested fintech companies, blockchain native companies, and crypto-curious companies operating in Africa and looking to advance existing services or embed digital asset solutions into their models for the first time are all encouraged to apply before March 18, 2022 here.
The African continent has seen a 1,200 percent increase in cryptocurrency payments from 2020 to 2021.
“We saw some impressive results from our Blockchain Bootcamp last year, with companies that participated in the bootcamp still building on Stellar. We’re excited to offer this opportunity for even more startups to see where the Stellar blockchain network can benefit them. From cross-border payments to financial inclusion, we are interested to see what role blockchain can play in the future of digital commerce in Africa,” said Jake Kendall, Partner at DFS Lab.
Viable use cases that could be explored include cross-border payments, access to financial services, or payment processing. Companies could also explore new models across asset management, compliance, defi, gaming, charity donations, trade finance, liquidity, and more.
“We’re supporting a new cohort of startups building the future of digital commerce in Africa in collaboration with DFS Lab. The energy and solutions we saw from participants last year were astounding, and demonstrated the importance of continuing to equip local builders with easy-to-use tools, education, and financial support. We’re committed to increasing financial access and inclusion by championing solutions rooted in local needs and expertise,” said Denelle Dixon, CEO and Executive Director of Stellar Development Foundation.
Companies including Moneygram, Flutterwave, Bitso, Wyre, Leaf Global Fintech, Airtm and Tribal are developing or have deployed a variety of solutions built on Stellar. The speed and scale of the Stellar network will enable new opportunities for bootcamp participants and their end users to quickly and easily transfer value, no matter where they are in the world. See the results and demos from the last bootcamp, here. The Stellar network is growing across Africa, particularly in East and South Africa. Companies building the future of digital finance across the continent are encouraged to apply.