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Bitmain’s Permissionless Ventures Launches First Project

Cryptocurrency mining
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Cryptocurrency mining hardware giant, Bitmain, is sponsoring a Bitcoin Cash (BCH) hackathon in the United States — San Francisco, to be exact. For the China-based company, BCH Dev Con is the first project financed by its $50 million fund, Permissionless Ventures (PV).

Arguably one of the most successful companies in the ecosystem, the crypto mining giant Bitmain, announced its first project connected with Permissionless Ventures. Hilton San Francisco Union Square will be the venue to host the first BCH Dev Con, a Bitcoin Cash hackathon series.

Over two days, on October 10th and 11th, the series will debut during the San Francisco Blockchain Week among some 5,000 visitors and attendees. BCH Dev Con is a way to encourage innovation and problem solving on the Bitcoin Cash network, including working with tokenization and smart contract platforms such as Wormhole, the company claims.

Epperly Li, Investment Director at Bitmain and Partner in Permissionless Ventures, insists the $50 million PV fund “will operate more like an incubator, which will provide funding and also incubation for BCH developers. But this fund will be very neutral, open and creative, [and] will invest 60% into BCH projects and the other 40% into different blockchain projects.”