How to increase adoption of a blockchain (with a startup accelerator)

As a blockchain company, you may be struggling to increase adoption of your technology because:

• Your tech is likely highly complex and may use a different coding language to other blockchains, narrowing the pool of developers who may be able to use your technology.
• You may be just starting out and not have a fully developed ecosystem to begin with, making it harder to attract new users.
• You may not have the educational resources that developers need to build new solutions on your blockchain.

So, what can you do to increase adoption? In this post, I share some of the most effective methods to do exactly that.

I’m the accelerator manager at Tenity Singapore. I lead Web3 programs in our Singapore hub and help Web3 startups grow both in their ideation and scaling stages. 

Based on my experience working with blockchain companies such as XRPL, I cover:

• Two main ways that blockchains can increase adoption
• How a startup accelerator can help boost blockchain adoption
• Why work with Tenity for your blockchain accelerator
• How Tenity with XRPL to increase adoption of its blockchain

Want to find out more about running your own startup accelerator? Reach out to us. 

Two main ways that blockchains can increase adoption

If you’re looking to increase the number of users of your blockchain technology, you have two main options. 

1. Develop educational resources and events to educate potential users on new use cases

One of the obstacles that many blockchains have when it comes to adoption is that most startups and developers simply don’t know how to use the technology. So, to increase users, you need to first educate potential developers about how your blockchain works. 

In fact, some of the most successful blockchains—such as Ethereum—have lots of resources online. These teach users how to navigate the technology and build applications for the blockchain. Other blockchains hold regular talks and events, which both educate users and build awareness of the brand and technology. 

With this in mind, one way to increase your blockchain’s adoption is to build this educational material from scratch yourself. For instance, you could develop digital resources to support your users. Or, just as importantly, you could run webinars, hackathons, and networking sessions, so that you can guide potential users in person. 

This way, you’ll also be able to build a community that’s centred around your technology. It’ll help you overcome another obstacle that’s commonly experienced by blockchains—namely, that they lack a vibrant and attractive ecosystem. Holding these events is a great way to build a community that attracts new users in future. 

2. Run a startup accelerator where developers can build solutions with your technology

Alternatively, you can run an accelerator, where startups can actively build solutions using your specific blockchain technology. 

Startup accelerators are programs that provide guidance and support to startups, usually in exchange for equity. If you hold an accelerator as a blockchain company, you’ll offer startups support and training in your technology, as well as some sort of incentive—such as a grant or investment—to join the accelerator in the first place. 

Obviously, providing this hands-on support is a more involved process than simply sharing educational resources and expecting developers to build solutions themselves. If you organise this program from scratch, it can be time-consuming and require you to hire someone responsible. 

However, in exchange, you get to work together with developers to build those solutions and develop proofs of concept. By working alongside startups, you can have an input into the solutions they develop and how they do so. 

Plus, there are companies out there, such as ourselves at Tenity, that can design and manage the whole accelerator process for you, meaning you don’t have to do it yourself. 

How a startup accelerator can help boost blockchain adoption

There are three main benefits of using accelerators to boost adoption of your blockchain. 

1. Startups can build valuable new use cases on your blockchain under your supervision 

Accelerators give startups the opportunity to build new use cases on your blockchain. This way, those startups actively create new ways for audiences to use your technology.  

Of course, developers can do this without an accelerator. Yet during such a program, you have some control over the use cases they build. You can vet, supervise, influence, and co-create these use cases, to build the best products possible. 

The result is not just new use cases and users, but proof of the blockchain’s value too. For instance, imagine a startup builds a digital wallet on your blockchain that’s used to transfer $500,000 a week. You can then use this example to make the case for the value of your system overall. 

What’s more, in many cases, startups can create solutions and use cases that you never even expected from your blockchain. Founders have a way of finding and solving problems in the technology that you hadn’t identified yourself. As such, they can offer you the chance to expand or develop your technology further—and ultimately get a more streamlined and effective product. 

2. You can use accelerators to raise awareness for your brand and product

Alongside the actual technological development that happens during an accelerator, these programs are also useful as a marketing platform. For instance, as I mentioned above, it offers a great opportunity to showcase how your technology is being used. 

More simply, though, accelerators offer a way to publicise your technology to a wider audience. They help you to promote your brand via Demo Days, corporate events, and digital marketing opportunities.

When launching an accelerator program, startups can find out about your technology. But other players—such as investors, mentors, and other industry stakeholders—can attend events such as your Demo Day and learn about your blockchain too. 

Similarly, during an accelerator, different startups within the program can often end up working together. It helps to build an ecosystem of developers all working on your technology—offering the opportunity for a more robust and enduring community into the future.

3. You get an ongoing partnership with the Accelerator 

One of the most obvious benefits of running an accelerator is that you don’t need to plan, organise, or manage the program yourself. Instead, the whole process can be outsourced to innovation consultants and startup experts such as Tenity. 

This way, you can create a relationship that is long-term and beneficial for both parties. As a company, you save time and money that you’d have otherwise spent on creating educational resources. Plus, you access dedicated expertise in innovation, program management, and technology startups. 

You also gain access to the consultants’ wider knowledge and contacts in the industry. Not only is such a network an important source of expertise, but it’s another valuable channel through which to raise awareness of your product too. 

Why work with Tenity for your blockchain accelerator?

At Tenity, we’re an open innovation platform that organises and manages custom accelerator programs for financial corporates. We were born out of SIX, the Swiss Stock Exchange, and our focus has always been on finance and fintech. 

We can help you grow adoption for your blockchain, by building an accelerator that’s tailored to your specific needs. We’ve done this so far with other blockchain companies including XRPL, Keyrock and Klaytn.

There are three primary benefits to working with us. 

1. You benefit from our end-to-end management of your accelerator

If you work with Tenity, we’ll design and build an accelerator based on your specific innovation challenges and business goals. 

From there, we’ll take care of every aspect of your program—from marketing to planning the training program to organising your Demo Day—so you don’t need to worry about hiring an in-house team to do it yourself.

The process starts from startup scouting. We use our global network of experts to find the startups that fit your product and challenges. For instance, we can find startups working on tokenising bonds or assets, or building payment apps using the blockchain. Then, we’ll recommend them to you and invite them to the accelerator on your behalf. 

During the program Demo Day, we’ll also invite our network of mentors, industry experts, and investors to take part. It’s a great way to spread the word about your product and to bring outside investment to the startups that are building on your technology. 

2. Your accelerator will be designed to give participating startups the best chance of success

We’re committed to building accelerators that give startups the best chance to succeed. If startups fail, it means that the solutions they’re building for your blockchain fail too. That’s why we design our programs to ensure that they don’t. 

One way we do this is to pack the program with the skills, information, and training that startups genuinely need. Generally, the programs have five parts:

• Building a business model
• Marketing
• Product development
• Fundraising 
• Demo Day, where startups can pitch products for investment

Example of XRPL’s program

Plus, accelerators can include sessions on mindfulness, managing the stress of being a founder, and the skills of pitching. This way, you know that whoever comes through the accelerator is prepared for life as a fintech startup, with a validated product. 

3. You get access to a global network of finance-specific knowledge

Of course, there are many different accelerator programs out there, as well as many partners who will build a program for you. But at Tenity, we specialise in accelerators in the financial services space.

We were born out of finance and we’ve been working in the financial industry for nearly a decade. As such, we have access to a broad network of fintech and finance experts, including in Web3, blockchain, and other innovative technologies. 

This highly specialist experience gives us unmatched knowledge of the industry, including tech trends, key players, and exciting startups. 

While we’re focused on the single industry, our network is truly global. Tenity launched in Switzerland and, since then, we’ve opened new cities across the world, in the Baltics, Spain, Singapore, and Turkey. 

This network means that you have the chance to grow your technology across the world, not just in your local area—and work with the most exciting startups across the planet. 

How XRPL works with Tenity to increase adoption of its blockchain

One example of our successful partnerships is the accelerators we’ve worked on with the blockchain, XRP Ledger. We’ve worked with Ripple since 2023 and have since built programs for them in Singapore and London. 

These programs have specifically been for startups developing products on XRPL. Specifically, in 2024, we’ve launched two programs:

• XRPL Accelerator: Launch, for very early-stage startups. For this program, 18 different projects have been selected, the details of which you can see here. 
• XRPL Accelerator: Scale Program, for startups that already have an MVP and have gained some traction. 

In both programs, startups get up to $100,000 in grants and the emphasis of the program is for startups to gain further funding. For instance, all startups will have the chance to pitch for venture funding at the end of the Program.

Overall, the programs offer a tailored curriculum designed to fit the specific needs of each startup. During the program, startups will be able to attend masterclasses on blockchain application composability, tokenomics, community building, and more. 

Further, they’ll receive access to mentors and experts, so that they can foster relationships with the wider Web3 ecosystem. This includes one-on-one coaching as well as access to events such as the Singapore Fintech Festival, CoinFest, and Token 2049.

What’s been the benefit for Ripple so far?

During our first accelerator for the brand, we brought together 13 startups to build on the XRP Ledger. And, overall, the program was so successful that they’ve decided to run two more this year. 

Increase adoption of your blockchain with Tenity

In this post, I’ve shared some of the key benefits of running an accelerator to boost adoption of your blockchain. It’s an opportunity to work with some of the exciting startups that are using your technology—and to market your blockchain to the wider industry. 

At Tenity, we can build an accelerator program that’s built around your specific technology, challenges, and needs. And we’ll give the startups in your program the very best chance of success. 

Want to find out more about our accelerator programs? Reach out to us.