Only six companies made it into the first blockchain program of US accelerator 500 start-ups, including the Linzer Startup Blockpit. The company provides automated tax reporting for crypto traders as a convenient online tool.
For traditional venture capital firms, there is a strong trend to include blockchain and cryptocurrency projects. The world’s leading Accelerator 500 Startups, headquartered in San Francisco, also sets a focal point here. This summer, for the first time, a program will be launched exclusively for Blockchain startups. One of them is Blockpit. The team has already booked flights overseas, as on-site Silicon Valley is hosting extensive mentoring and networking events. Another stop on the journey is the block show Las Vegas, one of the largest blockchain conferences in the US.
Blockpit Strengthens Global Network
Only three percent of all applicants make it into a program of 500 start-ups. Thus, the take-up rate is lower than the top universities such as Harvard. Blockpit was only allowed after a detailed examination. “There is a real need for crypto traders to pay their taxes in compliance with the law, but at the moment this is still very complicated. At Blockpit, I immediately saw that they provide a reasonable solution for officially accepted tax reports that are already online. That was a good reason for me to include them in the program and to do their utmost to support them,” says Rob Neivert, venture partner at 500 start-ups.
With the vision of setting an international standard for crypto tax reports, Blockpit is making an important step forward. Blockpit is currently pursuing a three-million-euro private session of its TAX Utility Token via https://tokensale.blockpit.io. The large network of 500 start-ups offers unimagined opportunities to open up the US market at an early stage.
Twilio, Ripple and 9GAG Among the 500 Start-up Alumni
Incorporating 500 startups, Blockpit joins the ranks of notable companies such as the Ripple blockchain payment system, the listed cloud communications platform Twilio (NYSE: TWLO), and the social media site 9GAG, all of which were a part of the accelerator. The entire portfolio includes more than 2,000 startups in more than 60 countries, including other successful projects such as GitLab, SendGrid (NASDAQ: SEND) and Wildfire.
Blockpit CEO Florian Wimmer visited the offices of 500 start-ups in Seoul and Bangkok as a part of trips to blockchain conferences in Asia. An interview with the head of the South Korea office, Tim Chae, convinced Wimmer of the extensive opportunities that the Accelerator has to offer for his company.
Blockpit is an automated web and mobile app for the tax declaration of cryptocurrencies, as well as for monitoring the own portfolio in real time. Blockpit uses APIs from various exchanges such as Binance, Coinbase, Poloniex, Kraken and many more to connect with their service. All trades, wallets, mining income and other sources of income, such as Airdrops, are summarized for users in a clear dashboard. As a result, Blockpit provides a clear overview about the revenues that have been realized as profits and are tax-relevant. In addition, users are offered the opportunity to create a tax report that can be approved by one of the many Blockpit partner law firms.
Further information can be found at www.blockpit.io