The Mayor’s Office of Budget and Innovation of Los Angeles and the city’s Information Technology Agency (ITALA) have collaborated with Goren Holm Ventures (GHV) to have a blockchain startup competition called Block Tank.
Winners will get a $25,000 minimum investment from GHV and a $25,000 pilot venture with the city. Ted Ross, the City of Los Angeles’ CIO, stated:
“Utilizing cutting-edge technologies to improve the lives of Los Angelenos has always been a priority for ITALA. […] We’re excited for our partnership with GHV to explore and source blockchain solutions at CIS.”
The areas eligible for the pilot undertaking are secure resident IDs, online voting, and environmental sustainability. Four startup companies will be picked by the city to be judged by the panel including billionaire and Bitcoin (BTC) proponent Tim Draper, who recently stated that a $250,000 value forecast for Bitcoin is conservative. More judges will be revealed after their participation is affirmed.
As earlier reported, information technology service management mogul Gartner anticipates blockchain getting to be transformative for most businesses within ten years.