Algorand Partners with Bocconi to Establish Algorand Fintech Lab
Investors in Algorand include Eterna Capital, an operator specializing in blockchain investments, founded in London in the spring of 2018 by Italian Andrea Bonaceto (co-founder of HiredGrad, a staff recruitment platform supported by Imperial College Incubator, as well as co-author of the first Nft digital artworks made in collaboration with a robot) and three young former BlackRock analysts.
Algorand, the blockchain platform on which the eponymous cryptocurrency designed to be secure, scalable, and decentralized is based, has partnered with Bocconi University aimed at fostering the development of the new Algorand Fintech Lab, directed by Claudio Tebaldi.
Research areas will be those destined to be most affected by the innovative wave of fintech technologies most beneficial to society, with a focus on the relationship between digital currencies and central banks, monetary policy, and macroeconomics; crypto-assets and financial markets; decentralized finance, financial institutions and services; and finally, Blockchain and society.
Among the scholarly initiatives, the one that best embodies the desire to separate knowledge and marketing-focused storytelling is a collaborative wiki project, on the lab’s website. Since knowledge, in a rapidly evolving field, is often conveyed informally through social media, websites, and research, not always published, from different disciplines, the lab’s community will take charge of filtering that information, identifying and sedimenting the highest quality information. Students and junior researchers will be in charge of monitoring the flow, supplementing if necessary the most interesting information with bibliographies and contextual news, while more experienced researchers will play the role of validators, making that work available to the public.
Read more about Algorand and find other important financial news with our companion app Born2Invest.
Algorand is a platform that overcomes the limitations of first-generation blockchain
Its founder is Italian Silvio Micali, a professor at the Massachusetts Institute of Technology in Boston and winner of the Turing Prize, a sort of Nobel Prize in Computer Science. Thanks to Pure Proof of Stake, the innovative consensus-building system, it enables the establishment of a highly expandable, decentralized, and secure digital transaction ledger, while Algorand Standard Assets (ASA) make possible the so-called tokenization (i.e., standardized digital representation) of any type of asset, including currencies, coins, and stablecoins. The company has built the first pure, open source, permissionless blockchain protocol for the next generation of financial products.
Investors in Algorand include Eterna Capital, an operator specializing in blockchain investments, founded in London in the spring of 2018 by Italian Andrea Bonaceto (co-founder of HiredGrad, a staff recruitment platform supported by Imperial College Incubator, as well as co-author of the first Nft digital artworks made in collaboration with a robot) and three young former BlackRock analysts: Nassim Olive, Asim Ahmad, and Mattia Mrvosevic. Eterna Capital in late October 2020 launched with Albemarle Asset Management (a British investment boutique based in London and so far specialized in equity strategies) the new Venture Capital Eterna Blockchain II fund, which will invest in projects on distributed ledger technology.
Claudio Tebaldi, director of the new Algorand Fintech Lab, said, “We need to be able to filter a rapid and incessant flow of information, settling verified and useful knowledge,” he says “Financial innovation,” Tebaldi continues, “is not just engineering or IT innovation, but also social innovation, an area where widespread knowledge, reliable policies, and trust are central. If we build a well-made bridge, it will hold up regardless of what people who use it think about it, but a financial system needs the trust of the participants.”
Micali added, “Blockchain will soon be the cornerstone of the infrastructure of the new finance and will bring momentous changes to the markets. Collaboration between the private sector, academia, and the regulator is crucial so that the utility generated by this new technological dimension is maximized and brings tangible benefit to society at large.”
Last January, Folks Finance, an Italian fintech company that operates the leading over-secured lending protocol developed right on the Algorand blockchain, closed a $3 million funding round
It was led by Borderless Capital, the largest investor in the Algorand ecosystem, which is committed to providing a steady flow of capital to the Folks Finance protocol liquidity pools. Also participating in the capital raise were industry-leading venture capital firms such as Coinbase Ventures, OKX Blockdream Ventures, Genesis Capital, Youbi Capital, Algorand Foundation, Meld Ventures, Eterna Capital, 0x Ventures, Polymorphic Capital, Valhalla Capital, ZBS Capital, and Gains Associates.
Many leading finance and DeFi (decentralized finance) protocols belonging to the Algorand environment contributed to the Folks Finance round, including: Algomint, Tinyman, StakerDAO, MyAlgo, Venue One, xBacked, and Prismatic. Angel investors supporting Folks Finance include David Garcia, CEO of Borderless Capital, and Calvin Liu, former strategy lead at Compound.
Finally, recall that in November last year Algorand and InfoCert, a certification authority under Tinexta, entered into a partnership for blockchain-based digital identity, while in the previous March Siae (Società Italiana Autori ed Editori) launched together with Algorand the tokenization of copyright.
(Featured image by geralt via Pixabay)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Fintech Companies in Colombia Have Seen Significant Growth
Regarding financial inclusion in Colombia, Liza Villabona, vice president of digital transformation at Crezcamos, believes that informal credit continues to...
Infinityhub Launches Crowdfunding Campaigns to Finance Redevelopment of Student Housing in Naples
YCare Napoli-Porta Nolana, a project of InfinityHub and ICS House, has launched a simultaneous equity crowdfunding campaign on Ecomill and...
Inditex Studies the Creation of a Sustainable Fund to Invest in Startups
Following the elimination of plastic bags in its stores, Inditex began charging for paper bags and envelopes in 2021 with...
Don’t Get Scammed on Flippa — Here’s What to Look Out For
If you’ve seen the name Flippa, then you’ve probably also seen the word scam next to it. But is the...
Can Blockchain Games Provide Sustainable Income?
While the concept of earning a living by playing blockchain games is still in its infancy, industry experts remain optimistic...
Crypto1 week ago
Ethereum: Will the Shanghai Upgrade Make it Easier to Detect Criminals?
Crypto2 weeks ago
Coinbase Signs License Agreement to Provide Liquidity and Custody Services with Bitpanda
Business3 days ago
The Top 6 Online Business Brokers and Marketplaces: Which One Is Right for You?
Cannabis1 week ago
Petro Government Asks Congress to Legalize Cannabis for Adult Use in Colombia