The Concordium Foundation will invest approximately 10 million dollars in its blockchain ecosystem projects

Chain Catcher news, the Swiss non-profit organization Concordium Foundation will invest 10 million euros (approximately 9.97 million USD) in Concordium blockchain-related ecological projects. This funding will be used to support projects that wish to build or integrate their DApps on Concordium. Concordium is a PoS blockchain that aims to address the fourfold dilemma of scalability, security, decentralization, and regulation.

Previously, Chain Catcher reported in February last year that the Concordium Foundation signed a cooperation agreement with Geely Holding Group, where both parties will establish a joint venture in China. According to the agreement, Geely Holding and Concordium will hold 80% and 20% of the shares in the joint venture, respectively, and will jointly operate and manage it. The joint venture will leverage Concordium's blockchain technology to provide blockchain-based business models and distributed applications (DApps) to Chinese clients, including those in the automotive industry. (Source link)