Things are always evolving behind the scenes of the blockchain industry. ICON, a concept focused on connecting blockchains, is partnering with TRIVE. A close relationship with a venture capital firm is always a positive development. The venture is mainly designed to improve the local blockchain community and educate the region.
A Major Partnership for ICON
The ICON team has built up solid technological expertise over the years. With the desire to connect blockchains and improve operability, the distributed ledger ecosystem will see some interesting changes moving forward. Additionally, the project has attracted the attention of a major VC firm based in Singapore.
TRIVE has a growing regional network. As such, their partnership with ICON will create an educational ecosystem involving blockchain. Furthermore, both entities will co-develop blockchain courses which will become part of TRIVE’s programming schools. Those ventures are located in both Singapore and Vietnam, two regions where blockchain can genuinely thrive.
Additionally, startups will not be overlooked either. TRIVE will offer “green lane assessments” of startups looking to access the ICON blockchain ecosystem. In doing so, both parties aim to speed up the development of new use cases and products using this technology. In the long run, both companies want to unify blockchain assets across Southeast Asia.
The Importance of Southeast Asia
It is evident this partnership is mainly designed to target Southeast Asia. That is not by accident, as ICON has focused its blockchain ventures on this specific market. TRIVE is also eyeing the same market and any blockchain startups active in this part of the world. Creating value for startups through means other than funding is very important to TRIVE. ICON Foundation Council member JH Kim explains his team’s vision as follows:
“The ICON Foundation’s purpose is to promote and develop new technologies and applications in the fields of open source and decentralized software architectures. The partnership with TRIVE will allow ICON to not only educate the public on blockchain technology, but also expand ICON’s ecosystem and community. Singapore and Vietnam are at the center of blockchain innovation in Southeast Asia, and we are excited to work with TRIVE to further realise the full potential of blockchain in this region.”
Southeast Asia is home to a booming blockchain ecosystem these days. As such, innovative ventures and strategic partnerships will play an increasing role of importance moving forward. Gaining relevant traction among other competitors will be challenging. For TRIVE and ICON, this partnership may help address that potential problem. Exposing more parties to this ecosystem and its potential will ultimately lead to more use cases.
Image from Shutterstock