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The Next Generation Of Cloud Apps To Be The First To Be Funded By A Token Sale

New York, October 24, 2017Wireline, the cloud application marketplace and serverless architecture pioneer, is today opening applications for its open source developer fund. The fund will be investing in developers crafting applications to power the next generation of the cloud. It is the first time that funds from a token sale will be used to support open source software development.

Wireline has developed a full service platform for enterprise microservices – from design through to deployment and managements. A key element of the platform is its App Exchange, a marketplace that brings together microservices from across the web. The App Exchange connects apps and professional services with enterprises seeking to build sophisticated solutions from multiple open source vendors.

With global IT spend approaching US$1.5 trillion, there is huge potential for open source developers to gain a larger share of enterprise IT budgets. But until now, open source development has not had a platform that has adequately supported the needs of the lucrative enterprise IT market.

Lucas Geiger, CEO of Wireline, states: “Currently open source projects are underfunded and developers aren’t motivated to build new applications because maintaining them is a thankless task. We want to change that by creating an ecosystem that rewards developers, and helps enterprises gain leverage from the extended open source community. We’re excited to open the application process, see the ideas and support the talented people building the next generation of cloud apps.”

Wireline is currently holding a token sale to fund platform development as well as provide funds for the Wireline Developer Fund, 80% of the funds raised will go directly to the Wireline Developer Fund. As a result, Wireline anticipates committing US$100,000 to approximately 30 projects. Winning projects will be paid in Wireline tokens, Bitcoin and cash, and will be publicly visible on the Ethereum blockchain, using the WRL Token.

Geiger comments: “Critical to the ongoing success of open source projects is developers having a financial stake in the platform. Using cryptocurrency as the currency of the marketplace is a way for us to ensure that developers receive benefits for holding tokens. For example, through the evaluation process WRL token-holders will  be able to ask questions and comment on the proposals to signal the relative quality and value of an applicant’s services. This, in turn, will support the longer-term sustainability of the ecosystem we’re developing.”

Wireline is seeking applications from a broad range of apps, including frameworks and tools for websites. During the procurement process all bids from applicants will be public, and the projects will be evaluated by a panel composed of the Wireline core team, and thought-leaders from open-source application development. The company has established a November 30th deadline, with projects being evaluated and funded on an ongoing basis as they are submitted.

“One of the themes of the call for proposals will include a blockchain distributed app award, which will be evaluated in conjunction with Qtum, a Wireline ecosystem partner,” concluded Geiger.

The application process will be opening imminently, please see here for details on how to apply:



About Wireline

Wireline is a cloud application marketplace based in New York, providing an app store for fully managed cloud applications. Wireline is a pioneer in “serverless architecture,”considered to be the next generation of the hyperscale cloud. This technology can be expected to disrupt over a trillion dollars of global IT spend.

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Media Contact:
Katie Olver
Cryptoland PR

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