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IDEO CoLab, a subsidiary of design firm IDEO, has partnered with 20 blue chip and crypto firms to launch a blockchain accelerator dubbed Startup Studio.
Partners include Amazon, Deloitte, and Fidelity, as well as crypto data firm Messari, the Ethereum Foundation, the Stellar Foundation, among others, to build on the distributed web incubator that IDEO CoLab launched in February.
The new initiative will see each of the partners hosting acceleration programs to provide enterprising blockchain entrepreneurs and firms with the tools and funding they need to further the “development, adoption, and impact of blockchain technology”.
IDEO CoLab believes blockchain gives “users greater access, ownership, and control” over their identities and financial lives, but remains “highly unusable for the average person.” Nearly every facet of the tech, from wallets to key management, and distribution mechanisms to custodianship, are “wide open” to be improved upon, the firm said.
What’s more, it expects the advancements being made in blockchain to develop into “billion — or even trillion — dollar opportunities.”