Block.one, the developer behind the blockchain software EOS.IO, and FinLab AG one of the largest company builders and investors focused on the FinTech sector in Europe, announced the signing of a letter of intent regarding the formation and capitalization of a new $100 million fund managed by FinLab, that will make strategic investments throughout Europe in projects that utilize the EOS.IO open-sourced blockchain software.
EOS.IO’s Delegated Proof of Stake (DPOS) approach has shown to vastly improved the speed and resiliency by which blockchain networks operate and scale. FinLab is excited to partner with the company behind this fundamental innovation and looks forward to fostering development of projects enabled by EOS.IO software. FinLab
EOS.IO is a Blockchain architecture for decentralized applications called DApps. While EOS.IO was developed by Block.one, the open source platform will be put into practice by third parties. The company identifies itself primarily as a tech provider who wants to offer an alternative platform to Ethereum.
We are excited to be working with FinLab AG, a leading European tech investor, to grow EOS VC’s global reach. We believe the EOS.IO open source software fundamentally enables new community driven business models, and we remain committed to investing in that future Brendan Blumer
This is the third EOS.IO fund formed through the EOS VC partnership program following announcements with Galaxy Digital, managed by Mike Novogratz and Tomorrow Blockchain Opportunities, managed by Derek Rundell of Eric Schmidt’s TomorrowVentures. Block.one has made an initial commitment to deploy $1 billion in partnership with leading venture capital investors to support the development of the EOS.IO software.