The Takeaway:

  • An Israeli startup called Libracamp is funding development on Facebook’s Libra testnet.
  • More than 80 projects have applied for the five spots in Libracamp’s initial virtual bootcamp, which starts in November.
  • Even though Facebook admitted in a recent SEC filing that regulatory pushback may prevent Libra from launching, Libracamp remains undaunted.
  • The Libracamp founders are currently fundraising for a $1 million prize for the winning team as well as capital for a second cohort of the bootcamp in 2020.

A rag-tag team of Israeli entrepreneurs is looking to leverage Facebook’s cryptocurrency project for profits, even without the $10 million required to join the Libra Association.

So far the newly established startup, Libracamp, has received more than 80 applications to participate in a virtual bootcamp for Libra developers starting in November. Libracamp co-founder Tomer Weiss told CoinDesk that Facebook’s Calibra team is in touch with the new startup, but not officially sponsoring this program.

“We see this as the ‘iOS moment’ of digital assets and programmable money applications,” Weiss said. “Imagine there was an incubator that…



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Author: Leigh Cuen

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