Detroit Blockchain Center: Now A Non-Profit
DETROIT, April 11, 2022 — Detroit Blockchain Center has taken an important step towards realizing its mission to charitably promote blockchain education, adoption, and growth in Detroit: it is now officially a federally recognized non-profit organization.
In a development many months in the making, Detroit Blockchain Center (DBC) is announcing that the IRS approved its application for 501(c)(3) status. This is a major move for the blockchain hub co-founded by business strategist and current DBC Executive Director, Nate Talbot.
DBC’s impetus is to increase understanding of blockchain technology and encourage outside investments in blockchain businesses in Detroit. For Executive Director Talbot, being located in Detroit is key. As he said in a recent interview with WXYZ Detroit, “The real focus here is giving people access to things that they are cut out from, especially in the Detroit area.”
According to its bylaws, laid out in 2018 and re-approved in 2022, DBC “is organized exclusively for charitable and educational purposes, including the promotion of distributed ledger systems, blockchains, and similar or related technologies (the ‘Blockchain’), through efforts such as public education initiatives, research, community training, and seminars.”
Becoming a non-profit gives DBC new ways to fulfill those purposes. As co-founder and Board member Adam Zientarski puts it, “We now have the ability to apply for grants and funding opportunities that weren’t available to us in the past. DBC’s non-profit status will help us provide new opportunities for events and educational initiatives.”
The first major event on the horizon is The Detroit Blockchain Pitchfest, featuring pitches from blockchain startups with less than $1 million in revenue as well as from Michigan high school and college students. Prizes include a seed investment from Detroit Ledger Technologies and cash prizes from DBC. Detroit Ledger Technologies is a founding member company of the DBC.
To stay in the loop on Pitchfest and all things blockchain in the metro Detroit area, follow Detroit Blockchain Center (@detroit_bcc) and Detroit Ledger Technologies (@detledgertech) on Twitter.
ABOUT DETROIT BLOCKCHAIN CENTER
Formed in 2018, DBC’s mission is to coordinate and promote the education, adoption and growth of the Blockchain ecosystem throughout Metro-Detroit, and provide resources to entrepreneurs and startups through access to education, financial resources, and business development services.
ABOUT DETROIT LEDGER TECHNOLOGIES
Launched in 2018 as a scrappy block producer for the new EOS blockchain technology, the “benevolent block producer crew” Detroit Ledger Technologies (DLT) works hard to build value on blockchain networks. DLT plants new seeds of economic opportunity through initiatives including community workshops in tech education, fully independent bare metal infrastructure, and an expanding business model with collaborations in markets ranging from real estate to higher education.
APRIL DAWSON, DIRECTOR OF MARKETING
DETROIT LEDGER TECHNOLOGIES