The Digital District of the Valencian Community in Spain is organizing the first edition of the Bootcamp Blockchain & Fintech in Alicante, an acceleration program for enterprises using distributed accounting technology (DLT) to which 368 proposals from 62 countries were submitted. The organizers have already started the process of selecting the projects and the finalists will participate in the camp to be held from March, 23rd to March 25th.
For more insight, details, and daily updates, download the Born2Invest mobile application to check and stay up to date with the latest business news in fintech. Prepared by an in-house team of journalists, Born2Invest covers a wide spectrum of topics, such as investing, economies and global markets, trending business news, as well as industry updates on tech, real estate, media, and personal finance.
The intention of the acceleration program
The intention of the acceleration program is to choose the initiatives that are best suited to the needs of financial institutions. This includes practical applications of blockchains for banks and insurance companies, which promote financial education, the development of smart contracts that generate accessibility solutions, allow international payments, tokenization, traceability, and commercial financing.
Between January and February of this year, 52 of the projects submitted were convened to show their proposals, of which 9 have already been pre-selected to go to the final camp. In total, between 20 and 30 initiatives will be chosen.
The schedule of activities at the fintech camp
The schedule of activities for the acceleration program includes an event on March 23rd, where there will be a working session among participants to enable them to establish professional networks and collaboration. On the second day of the camp, there will be interactive workshops during which the entrepreneurs will define their possible collaborations and analyze joint proposals.
The last day will be used by the startups and financial institutions participating in the project to establish working alliances and accentuate their presence in the FinTech ecosystem in Alicante.
The fintech camp is an opportunity for financial institutions
Daniel Collado Ruiz, CEO of Nestholma, one of the companies organizing the acceleration program, indicated that this is an opportunity for financial institutions such as banks or insurance companies to adopt this type of technology.
“Fintech’s global sector has matured a lot in recent years and so have the technologies behind the companies in this area. That makes this type of specific program feasible now,” said the executive.
Acceleration programs for fintech projects in Spain
In Spain, acceleration programs for fintech projects, related to DLT or other technologies, are common. One of them is the call made by Bankia FinTech, which, in December 2019, selected two projects with blockchains to boost the development.
In addition, with the approval of the regulatory sandbox in Spain, a space to test fintech proposals before they go to market, it is possible that new ventures with solutions for the finance sector will emerge in the European nation. This test bench is expected to be operational by 2020.
Collaboration is another fundamental point. It is a matter of bringing together all the players in the industry to facilitate investment in fintech, as the project aims to enable financial institutions and venture capital to invest in startups and to collaborate with them. This aspect is linked to another concern not only in the fintech world but also in other sectors: avoiding the flight of talent to other regulated spaces that have already been created in different countries.
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 CRIPTONOTICIAS, 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.
Savills IM refinances two Italian assets with one of the first green loans in Italy
One of the first green loans in Italy will refinance the retail park in Fidenza (Parma) and the U4 office...
4 tips to market your small business locally
Whether you’ve recently started a small business or have pivoted your sales tactics for your company because of COVID-19, you’re...
Bitcoin revolution by integration with PayPal
The integration of Bitcoin with PayPal is probably one of the most important news for the entire crypto industry in...
A system of Environmental Sustainability Certification to be created in Italy
The first goal of the experimental program is to create a system of "Environmental Sustainability Certification" that allows a project...
Why your business needs professional language translation services?
Digital marketers may spend months creating a campaign for a product launch in a foreign market, but if it’s not...
Africa7 days ago
Fruitbox Africa: Frankfurt investor and Siemens to create jobs in Ethiopia
Africa5 days ago
Why countries in southern Africa could become leaders in the cannabis sector
Featured6 days ago
How the coronavirus pandemic impacted the German Fintech sector
Featured6 days ago
Why is the stock market up?