Dusk Network Opens Grants Program To Boost Privacy In Blockchain Technology and Decentralized Finance

Dusk Network, an open source blockchain for financial applications, announced today that it is now open for applications to its Grants Program.

The opening of the Grants Program was announced during the first Dusk Conference (DuskCon) held last April 9th, and comes as the first of its kind in the Netherlands, with a $5,000,000 grants pool established for the development of privacy-focused blockchain technology for finance. The first round of applications begins today, June 1st.

Since its inception in 2018, Dusk Network has supported the passion and talent of young blockchain developers and entrepreneurs. The team behind Dusk Network has achieved much in three years, with the design and testnet launch of the world’s first privacy-preserving blockchain.

Dusk’s previous experience with grant programs is a critical cornerstone to the foundation of their own program, and improves on the challenges that were met in the past. According to Dusk Network, the new process they have implemented brings about a more balanced and considerate approach for applicants who bring in fresh, individual talent but work with varied paces of execution.

“To install a new way of doing business in a traditional ecosystem, we need all the out-of-the-box thinkers and visionaries we could get. We have witnessed the potential impact of grant programs in the blockchain industry, for which Metamask is a great example. Nothing is impossible” shared Dusk Network Commercial Director Pascal Putman.

Interested applicants may inquire on the matter directly with the Dusk Network team, and the grants program itself is open to all: from independent projects, developers, researchers, academics, or community organizers, or even technology enthusiasts dabbling on ways to drive mainstream adoption of blockchain technology and create sustainable means of envisioning a decentralized future through financial technologies.

“Dusk Network is approaching its public Testnet phase, a key milestone on its path to the new future of finance. With the confidential smart contract capabilities of our privacy blockchain, we are creating a new blockchain standard. Now is the time to invite brilliant talent to build (financial) applications and use-cases on our infrastructure. Are you ready to drive adoption and build the future of finance? Apply to our program and utilize Dusk Network technology to disrupt the industry.” shared Dusk Network Tech Lead Emanuele Francioni.

Through the Grants Program, the Dusk team aims to utilize the technical uniqueness of its blockchain network to attract new industry talent and further pursue its mission of enabling businesses to collaborate at scale, meet compliance requirements, and ensure data confidentiality across all channels. According to a press release shared with CryptoDaily, Dusk Network is actively looking to fund initiatives in the following areas:

• Ecosystem tooling and improved infrastructure: i.e. hardware wallets integration, mobile wallet integration, smart contract creation suite, etc.
• Research proposals for future-proofness of the network: (layer-2) scaling, sharding, quantum-resistance
• Applications and use-cases that drive mainstream adoption: multi-signature contracts, privacy-respecting decentralized finance

The application process for the Grants Program adheres to the core principles of the Dusk Network team, and as such, follows a full transparency in the process while respecting the privacy of each applicant. The Application Flow follows this format: 1.) Inquiry form, 2.) Formal proposal, 3.) Evaluation, 4.) Tech deep-dive, 5.) Funding decision, and 6.) Onboarding

All project submissions are reviewed by the Dusk team on key areas like business impact and technical feasibility. Projects that are chosen and onboarded are disclosed in detail to the public.

A Governance Council will be established after the Dusk Network’s mainnet launch, and will consist of core team members and industry developers to govern the grant program forward. This team will also be responsible for the governance of the network’s Community Development Fund (CDF), as well as for securing the Dusk Network’s future developments. Complete on-chain decentralized governance of the network will be handed to the active community as the network reaches maturity.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.