DFS Lab, a leading investor in digital e-commerce, has partnered with the non-profit organization, SDF (Stellar Development Foundation), to launch a blockchain Bootcamp directed towards African startups. SDF supports the Stellar network, a decentralized and open-source blockchain network for financial products and services. The move is primarily focused on bringing African startup firms to the Stellar blockchain network.
Accordingly, the newly launched blockchain Bootcamp invites applications from interested candidates to incorporate digital assets solutions into their models until August 20, 2021. Fintech companies, crypto enthusiastic companies, and blockchain native companies operating in Africa can apply for this initiative. According to the report, the blockchain Bootcamp will be held for 3 days and will allow companies registered under the initiative to answer, “critical business questions with hands-on technical support and guidance from DFS Lab and SDF.” Participating companies will have to define a problem, offer a proper solution, and develop a rapid prototype for their innovations. Thus, this would be an exciting opportunity for African startups and business developers to integrate blockchain-oriented ideas into their business models. It will also equip them with practical business tools and education and provide support for creating viable solutions catering to meeting their needs.
Participating companies can explore viable use cases like cross-border payments, payment processing, or other financial services alike. They can also try other new models like asset management, NFTs, compliance, gaming, trade finance, charity donations, liquidity, etc. Among these, the most promising solutions will be awarded attractive prizes ranging between 5,000 to 20,000 USDC. Also, there will be other opportunities for additional grants and investments from SDF’s native Enterprise Fund and other renowned investors present at the demo launch of the Bootcamp.
The speed and scalability of the Stellar network, along with the Stellar Lumens prediction, will offer new opportunities for Bootcamp participants so that they can quickly transfer value, irrespective of their locations, where they are from. Stellar Development Foundation’s presence is growing all across Africa, particularly in the eastern and the southern part. Solutions built on the Stellar network are already being deployed by leading companies like Samsung, Franklin Templeton, Airtm, Leaf Global Fintech, and Tribal.
Speaking about this collaboration with DFS, the CEO and Executive Director of Stellar Development Foundation, Denelle Dixon, remarked that this partnership with DFS along with the Bootcamp launch would mean a lot for the African startup businesses, as it will help them build the future of digital commerce in the nation. The project is a part of Stellar’s effort to increase financial access to let companies build their models on the Stellar network, which is again a major revolution in the digital commerce industry.