The British government used a $ 26 million fund to attract distributed ledgers

nRunaway Comment: Innovate UK, the UK technology developer, announced it will double support for blockchain technology. Invest £ 19m for projects that provide services and products in emerging enabling technologies, including projects that use distributed ledgers. Another 12 million pounds for recruiting graduate students involved in project development business. Related projects require the submission of proposals and competition, and they must be self-financing most of the costs, both for the budget and the duration.n
nTranslation: Annie_Xun
January 22, British technology development department Innovate UK announced that it will double support for blockchain technology.n
The independent public sector said it will invest £ 19 million ($ 26.6 million) for projects that provide services and products in emerging enabling technologies, including projects that use distributed ledgers. The agency also provided an additional 12 million pounds ($ 16.8 million) to recruit graduate students involved in project development.n
The deadline for respondents to submit proposals is March 28, 2018 and must be supported by business or research and technology groups. Project scope budget must not be less than £ 35,000 for at least three months, but it could be £ 2 million for three years. Auditing standards also include that companies must be able to raise 70% of their own costs.n
This statement represents the latest Innovate UK project, which seeks long-term new ideas and new projects in the blockchain industry. Last July the agency solicited projects that use blockchain tools in emerging medical technologies.n
Earlier, Innovate UK awarded £ 248,000 to blockchain start-ups for the development of cross-border financial trading tools.n
The statement said that projects focused on distributed ledger technology may need to compete to obtain the funding, the contest includes machine learning, artificial intelligence, virtual reality and so on.n

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