Hi Simon, great post really like how you've broken down the announcements to look into the fine detail, as often announcements like this are not all what they seem and a lot is left to interpretation and understanding of the fine details which isn't included in a presentation.

Having said that, project funding still seems a little vague. Yes block one has said it going to fund projects but the structure seems to be that they are going to deploy capital threw leading global VC's leveraging resources to be driven back into the tail end of innovation!

The answer is in point 3 above... Block.One are funding projects so they don't have to sell tokens through the ICO process!

I think they are not going to be directly funding projects and that the funding will come from global VCs and there is a good reason why they are taking this route.

That however does leave the question of new project seeding kind of unanswered IMHO

I'll try write more on this over time