India has been facing vague crypto regulatory scenarios but this has little or no difference in efforts being put across by Indian and International crypto players in India. While India’s PM Favors Blockchain, crypto exchanges, and companies are eyeing at positive crypto regulation. However, amidst the uncertainty, Crypto giants, Binance launched a new initiative for tech folks of India.
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The largest crypto exchange, Binance launched ‘Build for Bharat’, a two-fold program with Hackathon and Acceleration opportunities focused to encourage mass adoption by bridging the gap between the blockchain and the community
Defi focused accelerator and hackathon program for India
A great opportunity was bought by Binance and WazirX for the creators, builders, and innovators from all over India to secure rewards and acceleration. Both Binance and WazirX teamed up to strengthen the blockchain ecosystem in India initially. Many more sponsors have joined the crew.
Participants need to register and set up the team/startup here – official registration website.
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This program would last for three months, divided into three cohorts or groups.
- Genesis – The first phase would start from 24th August 2020, with the group title ‘Genesis’. The applications will be accepted till 11th September, shortlisting the top 100 teams.
- Trial – The next phase called ‘Trial’ will commence from 12th September 2020 until 30th September 2020. Here, Many meetups, AMA’s, and qualifier rounds would be scheduled.
- Conquer – The duration of the ‘Conquer’ cohort would last from 1st October to 31st October 2020. The mentoring sessions would be held with performance evaluation.
The results of the top 5 winners will also be announced.
Who can apply for Binance Build for Bharat Program?
The hackathon is Defi-focused but any out-of-the-box blockchain projects are also encouraged. The start-ups and individuals who work on Mini Tokens, Micro Financing Products, Blockchain Datasheets, Blockchain-AI Solutions, etc are welcomed to join the program.
The cryptopreneurs working on a proof-of-concept to build a minimal viable product(MVP) or a blockchain-based innovative use case can participate. The shortlisted candidates will receive a reward of more than INR 300,000 and the winning teams will be awarded an acceleration or push in terms of funding.
The winning teams will also get access and support from Binance’s blockchain ecosystem. They can even access benefits from Binance Chain, Binance Cloud, Binance Launchpad, Binance DEX, and more.
Binance Bringing Blockchain on the Mainstream.
Binance, in its press release, states that the creators can showcase their talent by building creative innovations using blockchain technology. The very primitive Defi-focused hackathon and acceleration program strongly intend to bring blockchain on the mainstream.
“India has been one of the most interesting countries Binance has tapped into! We’ve seen entrepreneurs create a robust blockchain-based solution from scratch and scale it. With the second-largest blockchain developer base in the world-India has already kickstarted the revolution of decentralized and we’re here to fuel it,” Changpeng Zhao(CZ), CEO at Binance
The acceleration program is sponsored by Polaris Accelerator Program and the hackathon is sponsored by Google Cloud, Matic Network, Marlin Protocol, Band Protocol, and Ankr Cloud infrastructure.