Ethereum Classic Labs launches Third Cohort, announces impact startups

ETC Labs has announced its Cohort 3 along with startups like Pngme, Prescrypto, and OpenRelay, companies that create social impact through DeFi.

By · Jul 22, 2020 . 6min read

ETC Labs announced its Cohort III on July 20 with a focus on blockchain for impact. The digital asset startups for this phase include Pngme, Prescrypto, and OpenRelay. Ethereum Classic Labs claims to support startups that deal with social and economic issues with 50% female founders.

Cohort 1 was launched on January 14, 2019, followed by Cohort 2 on August 21, 2019. Companies like Second State, Button Wallet, etc., are associated with it. Now, Cohort 3 unifies technology with social awareness, evident with its choice of following startups.

Pngme

This startup provides microloans to emerging businesses in Africa. Its unified financial data API combines financial inclusivity and DeFi. According to ETC Labs, it closes the $5.2 trillion finance gap that affects 200 million micro, small, and medium businesses globally.

Through Pngme, companies can submit their financial data and ask for low-cost loans. Financers can view this data, issue loans and manage the process efficiently.

Prescyrpto

This healthcare startup issues digital prescription through a blockchain-based infrastructure. Moreover, it won the Newsweek’s 2019 Blockchain Impact Award for revolutionizing the healthcare industry. With more than 3500 doctors and 192,000 patients on its network, it issues around 12,000 prescriptions monthly.

Prescrypto’s RexChain decentralized protocol securely transfers individual prescription data to pharmacies and keeps patient records.

OpenRelay

OpenRelay provides web3 infrastructure to enhance performance in the Ethereum Classic blockchain developer ecosystem. Its open-source software is accessible publicly.

ETC Labs will now work with OpenRelay and Rivet to absorb their blockchain solutions and make it more affordable for small businesses.

“We are committed to supporting their diverse array of entrepreneurs and companies who are working to realize the intent of blockchain to bring meaningful economic and social impact,” said James Wo, founder and chairman of ETC Labs, about donating to UNICEF, backed by Digital Finance Group.

Ethereum Classic Labs announced Cohort III startups will gain technical support and access to the ETC Core developer team and its tools like EVM-LLVM. Along with it, they will provide custom service to tailor the features of the startups. In conclusion, ETC Labs has made a huge breakthrough in the crypto space with its advancements.

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