COTI Foundation has just announced the target use cases and focus areas for its $100 million development fund, all of which will be allocated in COTI tokens.
According to a press release shared with CryptoPotato, there will be a selection process for projects who want to apply for funding, and it will be open to all developers, encouraging them to explore and build data-secure apps.
The COTI V2 ecosystem will open up to use cases across a range of different areas, including decentralized finance (DeFi). The press release reads:
COTI V2 has the ability to bring the next billion in TVL to Defi with confidential transactions which allows decentralized apps to offer new products and services, but also greatly increases both the privacy and security of services they currently offer (all while still being able to maintain regulatory requirements like KYC).
Additional focus areas include dynamic decentralized decentralized identification, data management, artificial intelligence (AI), GameFi, and more.
Speaking on the matter was COTI Founder and CEO Shahaf Bar-Geffen, who said:
“Since the announcement of the COTI V2 in December, we have seen huge interest in the space about the potential that Privacy-Centric innovation offers to Web3.
Having recently achieved our first milestone of integrating GC into the blockchain for the first time, we are pleased to present a clear vision and an open call to all blockchain builders and thinkers to join the COTI ecosystem, starting with our upcoming Devnet.”
As we recently reported, COTI deployed Garbled Circuits last week. The technology aims to bring on-chain privacy with a computation speed of up to 1000 times faster than other encryption systems.