The Central and Eastern Europe region has recently seen an increase in web3 companies and start-ups leveraging blockchain technology, decentralized finance (DeFi), and other web3 technologies to create new and innovative solutions for a wide range of industries. I’m here.
One of the most exciting areas for web3 in the Western Balkans is that of decentralized finance (DeFi). DeFi solutions use blockchain technology to be decentralized (meaning no single person or entity can suspend or control access) and open to everyone. Create new financial products and platforms. It has historically been excluded from the traditional financial system.
Digital identity is another area where local Web3 companies are making a big impact. Solutions include implementing blockchain technology to create decentralized and secure digital identities that can be used for a wide range of applications such as online banking and e-commerce.
In this article, we take a look at some of the regional Web3 startups and companies making waves in the industry.
What it does: Shard Labs is an independent blockchain development agency based in Zagreb, Croatia, specializing in areas such as blockchain use cases and technology development, custom blockchain development services, and token development.
The company aims to build digital products that require a blockchain implementation, with a focus on automation and continuous software delivery.
Part of the agency is called SpaceShard. This is an R&D blockchain lab that bridges zero-knowledge technology and brings it closer to mass adoption. One of the lab’s main goals is to create an incubator and accelerator that allows new teams, as well as existing ones, to participate in technical, business, and marketing practices.
Area: Web3 Infrastructure
What it does: Mysten Labs is a web3 infrastructure company founded in Greece that develops tools to make web3 secure, reliable and ready for mass adoption. Create the underlying infrastructure to accelerate web3 adoption, bringing together the best and brightest minds in the industry to create the infrastructure and tools for a decentralized future for everyone.
The California-based company was launched in 2021 by five former Meta (Facebook) lead engineers and managers, and its founding team included two Greek co-founders. . The company has big plans for Europe, with Greece as its main focus first.
“We chose Greece because two of the two founders are from Greece. It’s easy to find talent here. I know it can be done, and it makes sense to start and scale this process from here.Costas Charquias, one of the co-founders of Misten Labs and its lead cryptographer, said The Recursive said in an interview.
Last year, Mysten Labs raised a $300 million Series B led by FTX Ventures, reaching a valuation of over $2 billion. We plan to use the latest funding for the aforementioned expansions to continue building the core infrastructure that will power the next wave of web3. application.
What it does: Decenter is an R&D center and project incubator focused on building products on the Ethereum platform, founded in Serbia. The company aims to build a more decentralized internet using web3 and blockchain technology.
Early projects include generative NFT art projects and blockchain games. Currently, the company is fully focused on DeFi Saver, a web application for managing decentralized finance or DeFi.
Our main product, DeFi Saaver, is a bootstrap product that allows you to manage various DeFi protocols from a single app with advanced and unique features of the DeFi ecosystem. It offers users a wide range of features such as lending, borrowing, saving, asset leverage, token swaps, one-click loan refinancing, and building custom transactions that combine various actions.
As the company itself points out, “a world where people have complete control over their digital identities and data, a world where bots don’t scan emails to serve more targeted ads, and businesses don’t scan. We envision a world: controlling every aspect of our social life online.”
What it does: Quanterall, based in Varna, is a software and hardware R&D lab, end-to-end in highly scalable, fault-tolerant, and high-performance functional programming languages such as Erlang and Elixir. specializes in developing customized solutions for and Haskell.
The company’s core business is developing custom enterprise software, blockchain solutions, and IoT infrastructure. Quanterall’s technical team consists of his 90+ engineers responsible for blockchain, backend, DevOps, web and mobile, embedded and hardware development.
The company has offices in Varna and Sofia since 2016, from startups and scale-ups to industry leaders, as well as Fintech, Telecom, Healthcare, Insurance, Logistics, Vending, Retail, Manufacturing and Communications among others.
What it does: Beyond Enterprises is a blockchain strategy advisory firm founded in Romania, currently present on four continents and partnering with over 50 blockchain projects including EOS, Bancor and HDAC, especially in Insurtech, Fintech Focused on tech, DeFi.
Founded in 2012, the company has worked on projects that have reached a combined market capitalization of over $4 billion (as of August 2022). Strategy, software development, and product and service execution.
The company is also part of the global community of crypto funds and investors under the Blockchain Investors Consortium (BIC).
What they do: Last but not least, the DeFi change ChangeX platform, founded in Bulgaria, combines the power of DeFI with a compliant CeFI, allowing users to put crypto, DeFi and banking under one roof. Create an immersive experience that enables
The ChangeX platform focuses on DeFi composability. This allows economic systems to interact with each other and create synergies to improve the probability of outcomes.
ChangeX co-founders Nick Iliev and Gary Guerassimov have a rich history of developing successful fintech solutions, including Bulgarian cryptocurrency exchange xChange.bg, HydraChain and LockTrip co-founders Nikola Alexandrov and Hristo Tenchev are also part of the team. Each brings seven years of blockchain experience.
Last year, ChangeX’s Initial Coin Offering (ICO) raised nearly $2 million, providing the team with financial support for its next development phase.
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