Huobi Group and Filecoin Collaborate to Bring Incubation Center

LONDON, Nov. 24, 2020 /PRNewswire/ -- Huobi Group, in collaboration with Protocol Labs, announces alongside Filecoin the launch of the Huobi-Filecoin Incubation Center with a $10M USD fund dedicated to supporting the Filecoin ecosystem.

The incubation center will focus on three main areas: Incubation, investment, and community development. It will support promising Filecoin developers, promote Filecoin-related academic research, and foster ecosystem development. Both Huobi and Protocol Labs believe that IPFS and Filecoin will be the foundation of the next generation of internet, creating a safer, more equal, and accessible system to distribute and store data - our most valuable asset in the 21st century.

As Filecoin launched its mainnet, the crypto market has also witnessed a surge of interest in this technology. Miners have now onboarded more than 1 Exabyte of storage to the Filecoin network, up +60% since the mainnet launch on October 15th. This is enough to store 250 Million 1080p Movies or 4000 versions of Wikipedia. There are over 100 organizations building on Filecoin's mainnet, 200+ new projects entering the ecosystem through accelerators and hackathons, over 700 miners providing storage solutions and more than 4,800 developers contributing to the project on GitHub.

Seeing the Filecoin ecosystem's enormous potential, Huobi believes that similar to decentralized finance, decentralized storage solutions such as Filecoin will lead a new wave of blockchain revolution and bring more innovation opportunities to developers. With Protocol Labs as the technical advisor to the investment fund, the incubation center would provide the best support for Filecoin developers and the community.

"Decentralized storage is a great experiment that combines cloud storage with the decentralized mechanism of blockchain. We believe that Filecoin would be the infrastructure for the next generation of internet. In this new age of information, we need to develop new ways to protect, store, and exchange our data, which could be crucial for how society and the world could be defined and developed.  In the past, the world has no mature system to handle data at scale in a decentralized way. Decentralized storage in the blockchain world is also still in the 0 to 1 stage. Viable use cases, incentive mechanism designs, and the system's robustness and effectiveness are yet to be tested. There are still many gaps to be filled in the Filecoin ecosystem, whether from theoretical research or technological development standpoint; we see that the entire ecosystem needs more resources and support," said Huobi CIO Sharlyn Wu.

"Right now the internet is in the middle of a revolution, and, with the launch of Filecoin, it is beginning the transition back to its decentralized roots so we can all work together to safeguard this valuable resource for the world. I've been impressed and grateful for the large and growing community of Filecoin developers, miners, builders, users and ecosystem participants in Asia who are passionate about a vision for a better internet.  Programs like the Huobi Filecoin Incubation Center will play important roles in supporting the community in their quest for a better web and a brighter future"  commented Juan Benet, Founder of Protocol Labs and Filecoin.

"Nurturing the Filecoin ecosystem of clients and applications building on Filecoin is a top priority for the community.  We believe the Huobi-Filecoin Incubation Center will play an important role in helping the Filecoin & IPFS ecosystems attract even more developers, entrepreneurs and community members and support their efforts to accelerate adoption of the protocol.  By 2021, we expect the Filecoin ecosystem to have world class applications, developer tooling solutions and infrastructure for clients, miners and the broader community"  said Colin Evran, Ecosystem Lead for the Filecoin Project and Leader at Protocol Labs.

The launch of the Huobi-Filecoin Incubation Center and the ecosystem fund marks an important collaboration between the Filecoin community and a digital asset services provider. The two together will promote academic research and technical development of Filecoin and foster a stronger Filecoin ecosystem globally," Wu added.

To help develop Filecoin globally, the Huobi-Filecoin Incubation Center and ecosystem fund will focus on the following key areas:

1. Incubation. Collaborate with existing Filecoin accelerators and incubators, providing additional courses leveraging Huobi's advantages in exchange solutions and Asia community. 

2. Investment.  Huobi would provide funding to promising projects in the Filecoin ecosystem, with Protocol Labs providing technical guidance and support.

3. Community development. Huobi and Protocol Labs will co-host annual summits and quarterly meetups globally, creating more cross border connections and communications among developers, miners, users, and token holders. 

The incubation center will be under the supervision of Sharlyn Wu, the head of Huobi's decentralized business department. Sharlyn is currently the Chief Investment Officer of Huobi and was previously responsible for China Merchants Bank International's strategy and investment in blockchain. This incubation center is the second of its kind following the Huobi DeFi Labs and will help Huobi Group conduct research, investment, incubation, and community building in the Filecoin ecosystem.

SOURCE Huobi-Filecoin Incubation Center