The use of Blockchain technology is becoming increasingly prevalent in many different sectors, even in areas that are not primarily related to finance. Startups in the blockchain industry often grow to a significant size in a short span of time, and the market is constantly offering new ideas for development as this technology is still in the very early stages of development. Deutsche Bank strives to be a key player in the field of Blockchain technology and of the business models that this technology enables.
A startup accelerator, the Blockchain Business Solution Accelerator, was created to identify the most interesting projects in their early stages of development. Its purpose was to connect startups and companies in order to engage in an experimental collaboration as well as to evaluate potential investments.
This program has been used to analyze the best business solutions focusing on blockchain, thus facilitating business relationships between companies and promising startups.
Five startups were selected from over 400 that applied. Alongside the Deutsche Bank team, we supported these five startups in defining the details of their strategic development plan. Meetings were also organized between startups, Deutsche Bank and partner companies to make it easier to identify potential business cases to be tested on the market.
The five selected and accelerated startups were: AllBlock (a service that guarantees document authenticity), Finboot (a platform for managing smart contracts), Lendflo (a service dedicated to SMEs to make invoice financing more efficient), Rigoblock (simplifies managing and trading digital tokens), and Satoshi (a service that simplifies commodity trading).