Y Combinator To Operate in China
August 16, 2018
The Y Combinator project has reported to open a new office in the People’s Republic of China. The head of the company called this the most advantageous thing for the country’s blockchain startups.
Investment organization that was founded in the silicon valley of the US and aimed at incubating promising startups like Reddit, Dropbox and crypto trade platform Coinbase has made an official statement on its account saying that it enters China market and Lu Qi is to become its chief.
In his interview to the local media Lu Qi told that the top priority for the YC China is incubating blockchain startups, training talented individuals and specific focus on research and development in the digital currency domain. At that Qi noted that the company plans creating a decentralized scientific research center.
Lu Qi also commented on the technology of distributed ledger having highlighted its immense potential and explained that it has specific functions for encryption and digital trust. He added that blockchain will be a perfect match for grating various allowances and lower entry barriers for small business.
Note that the chair of the project did not yet specify how exactly it was to focus on distributed ledger so blockchain-related startups had to find that out. YC China has proved to be actively supporting launch of the crypto investment project CoinTracker that had raised around $1.5 million during the first round in the middle of this spring.