Earlier this week, we received positive news from the European Commission's Research and Innovation Programme Horizon 2020. We unpack what the programme is and the next steps below but before that, we want to take a moment to acknowledge and explain this.
We’re honoured to have been selected by the programme. This step is not only a recognition of what we’re trying to build but also a sign for the community: more and more politics is opening up to the idea of Blockchain.
It’s a positive signal for all. The crypto economy benefits from steadily being recognised from various stakeholders and we’re proud to contribute to that. We hope that through both our product and instances like these we aid the proliferation of cryptocurrencies in everyday financial life and foster crypto’s mainstream adoption.
What is Horizon 2020?
Started in 2014, “Horizon 2020 is the biggest EU Research and Innovation programme ever with nearly €80 billion” in funding. Over the 7 year interval (2014-2020) the programme offers support to startups that drive innovation in various industries ranging from agriculture and hardware to finance and artificial intelligence. As a joint political and economic project, the programme has the political backing of Europe’s leaders and the Members of the European Parliament.
WIth this news, Bitwala becomes the first bank account with crypto features to be selected for Horizon 2020 programme and we are glad to have been chosen for the programme’s support. Over the past year, we have been working non-stop on launching the first of its kind blockchain banking experience and this step re-enforces our commitment to bridging the crypto and fiat worlds together through one account.
What happens next?
Support provided by the Horizon 2020 programme is split into two phases. After qualifying for the first one we have our eyes set on also securing the second part amounting to further €2.5 million. The funds will be used to further develop the product roadmap, specifically building an infrastructure for small and medium businesses to utilise cryptocurrencies.
We will also continue to expand our team. At the moment we are hiring for various positions including engineering and marketing. Are you interested in building the first of its kind banking experience? Check out our open positions!