- ETC Labs intends to work with Pngme, Prescrypto, and OpenRelay in Cohort III.
- Pngme aims to help developers and financial institutions built financial products easily.
- Prescrypto aims to transform the healthcare system by leveraging the blockchain.
Ethereum Classic Labs has announced Cohort III of its blockchain accelerator. The firm unveiled this news on July 20 via a blog post, noting that it has committed to provide 50% support to female founders. On top of this, the company said that it intends to work with three projects, namely Pngme, Prescrypto, and OpenRelay. This news comes after a report unveiled that women are increasingly dipping their toes in the crypto and blockchain sectors.
According to the blog post, the Pngme initiative underpins financial inclusion in emerging markets by leveraging a unified financial data API and developer framework. In so doing, it aims to help the next wave of developers and financial institutions build products quickly. In turn, they will be well-poised to serve their customers effectively.
The project is led by Cate Rung and Brendan Playford and it seeks to bridge the £4.07 finance gap that affects approximately 200 million Micro, Small, and Medium Enterprises (MSME). Pngme aims to achieve this feat by providing data pipelines, scalable API infrastructure, and a suite of developer tools to banks, microfinance banks, FinTech startups, and mobile money operators.
Through these products, financial institutions will be able to access a single point of truth on new or existing customers. They will also be in a position to deliver financial services to the underserved or unbanked.
Transforming the healthcare system with Prescrypto
Prescrypto, on the other hand, aims to revolutionize world health care with blockchain technology. This project earned the 2019 Blockchain Impact Award from Newsweek. It provides a blockchain-based infrastructure for collecting prescribing information, which is then routed to pharmacies and provides the medication history of each patient.
The project’s RexChain decentralized product, which is an interoperable trusted mechanism guarantees the integrity and traceability of each prescription. It then safeguards the patient’s information and automates the process to provide a speedy, simplified way for consumers and medical providers to get their prescription.
The network currently has more than 3,500 doctors and 192,000 patients. It has also transacted more than 300,000 prescriptions, averaging 12,000 per month.
Collaborating with OpenRelay
OpenRelay is the team behind Rivet, a leading provider of Web3 infrastructure that provides high-performance blockchain tooling to the ETC developer ecosystem. OpenRelay also supports some of the fundamental founding goals of ETC Labs accelerator through pay-as-you-go developer tools that focus on a decentralized economy. On top of this, the team is also laying the necessary groundwork that fuels decentralization and developing open-source software and standards that enable people to build on top of each other’s work.
Commenting on working with OpenRelay, ETC Labs,
“We’re excited to work with Open Relay, and their Rivet program, to have more node infrastructure service for the Ethereum Classic community. The team is not only immersed in the blockchain ecosystem, but it’s inclusive in that their solutions are affordable for every developer.”