Marlon Williams, an entrepreneur specializing in blockchain technology, watched as his hometown of Miami became a landing strip for cryptocurrency businesses.
Much of that growth came from the support of Miami Mayor Francis Suarez, who wants to make the city a hub for financial technology and cryptocurrency. Suarez's Twitter feed consistently promotes cryptocurrency and Miami as a site for company expansions. Miami became the first U.S. city to launch its own digital currency, MiamiCoin, according to Miami Inno.
When Williams moved to Atlanta last year, he saw a similar opportunity for his new city. Atlanta already has a reputation as a global fintech hub and a handful of crypto companies. Now, Williams is creating an incubator to help blockchain companies grow and lobby for government support of crypto. Blockchain is a decentralized and secure public ledger most commonly used for cryptocurrencies such as bitcoin, ethereum or non-fungible tokens (NFTs).
The Atlanta Blockchain Center will include coworking space and a learning center for blockchain companies. It mimics the model of Atlanta Tech Village, which has seen massive success in scaling software and marketing technology companies. Salesloft and Calendly, both valued at more than $2 billion, launched at the Village.
Renovations are underway at Buckhead’s 45 Old Ivy Road, a standalone building in Buckhead that will house the center. Williams has a 2,500-square-foot space with plans to expand as businesses locate there. It’s less than a mile from the Atlanta Tech Village. It’s set to open in May.
Williams also founded Starter International, a decentralized investor network for blockchain and cryptocurrency companies. Starter International includes venture arm Starter Capital, which has more than $16 million in assets under management. The Atlanta Blockchain Center will act as the in-person component of Starter International, Williams said.
“We’re going to help entrepreneurs — or students who are inspiring entrepreneurs — build the next Facebook or Google on the blockchain,” Williams said.
Nicknamed "Transaction Alley," Atlanta has a robust fintech industry, which includes longtime corporations and fast-growing startups. Visa Inc. (NYSE: V) cited that reputation as a reason for launching its 1,000-person Midtown office. More crypto companies are also seeing success. Local startup BitPay is the largest global blockchain payment provider. Cryptocurrency exchange and digital asset startup Bakkt went public last year.
But for the crypto industry to explode, Georgia legislators need to regulate cryptocurrency, fintech experts say. Texas and Wyoming also have been proactive in providing guidance for the crypto market, making those states more hospitable to crypto startups. Suarez’s support of crypto contributed to Miami’s investment boom in that industry.
“I was in the middle of all that and saw the impact of it,” Williams said of the mayor’s efforts. “We’re going to repeat that model here.”
Williams plans to provide suggestions for how government officials can incorporate blockchain technology in the city and host annual blockchain conferences with experts around the globe.
