South Korea-based blockchain project ICONLOOP (ICX) has signed a Collaboration Arrangement with ITU (International Telecommunication Union), which is the UN’ specialized agency for information and communication technologies, states the official press release that was shared with iHodl.
The main goal of the collaboration is to establish a high-level framework of cooperation in the area of the ITU Smart Incubator Programme with the aim of providing support and know-how on blockchain related technologies to the global start-up ecosystems.
ITU’s Smart Incubator Programme, was launched in September 2018 to assist and support technology-oriented entrepreneurs and startups in the early development stages including but not limited to Artificial Intelligence (AI), blockchain and Internet of Things (IoT). ICONLOOP, under this agreement, was recently selected as the Knowledge Partner in blockchain of the ITU Smart Incubator Programme.
ICONLOOP plans to support the growth and expansion of start-up businesses in African developing countries through pilot projects with a focus on 3 core pillars: technical know-how, business development, and outreach and networking.
As part of the incubation programme, ICONLOOP will support the startups through offering access to its industry network to increase awareness and offer opportunities to secure investment through large blockchain events and marketing.
The Head of ICONLOOP, Jonghyup Kim claims blockchain will be "an important opportunity for international organizations, countries, and enterprises to solve various socio-economic challenges facing developing countries such as sustainable energy, agriculture, and financial accessibility."
"ICONLOOP will promote not only cross-border business and technology cooperation for mass adoption of the blockchain, but also create social value by utilizing it," he added.