Musiccosmos

Y Combinator (YC) has just announced a new China division and its chief believes blockchain will bring long-term advantages to startups, according to a report The Silicon Valley-based seed investment firm, which has incubated notable startups including Reddit, Dropbox and crypto exchange Coinbase, officially announced its entry into the Chinese market in a blog post on Wednesday alongside news that Lu Qi – a former chief operating officer of Baidu – will be in charge of the new arm. In an interview with local media outlet 36Kr, Lu  commented  today that YC China’s main goal will be to focus on startup incubation, talent training and research and development, as well the creation of a non-profit research lab. Lu also discussed blockchain, saying he believes its core features of data encryption and digitization of trust mean it has long-term potential in business. He added that the technology is especially interesting for its provision of different types of ince...

Japanese messaging giant LINE has launched a token venture fund with a capital commitment of $10 million via its recently established subsidiary called Unblock Ventures. The publicly traded firm announced the fund in a release on Wednesday and said it aims to invest in blockchain startups in an effort to boost technological development. While Unblock Ventures, incorporated in Hong Kong in July, will be the fund’s manager, the $10 million capital is solely provided by LVC Corporation, another subsidiary of the LINE group. The company said it expects to increase the total amount of the fund in the future based on the development of the blockchain industry. Today’s launch is part of LINE’s wider push into the cryptocurrency space and comes just a month after it officially started the operation of its cryptocurrency trading platform called Bitbox. It was also announced today that Bitbox has listed TRX – the native token of the June  launched TRON blockchain – as the first ...