Global blockchain giant Binance has introduced a 3-month long hackathon and accelerator program, “Build for Bharat.” The program is aimed to fuel the blockchain revolution and its mass adoption in India. This is the leading blockchain ecosystem’s second initiative to boost blockchain adoption in India, after the “Blockchain for India” initiative launched in March earlier this year.
Introducing Build for Bharat. A program initiated to “fuel” the #blockchain revolution in India.
चलो मचाते है? 🇮🇳
— Binance (@binance) August 24, 2020
“Build for Bharat” is a dual-fold program, intended to bridge the gap between mass adoption and blockchain. The first part will be a hackathon, which shall be sponsored by the likes of Google Cloud, Matic Network, Ankr Cloud, and others, while the second part, i.e., acceleration, will be sponsored by Polaris Accelerator Program.
Decentralized cross-chain oracle network Band Protocol has also joined hands with Binance for the India-focused initiative. It announced in a tweet that it would be working with Google Cloud, and Matic Network, on the initiative.
🌍 Band Protocol will be joining forces with @Binance's Build for Bharat, a 3-month hackathon and accelerator program designed to bring blockchain to mass adoption!
— Band Protocol (@BandProtocol) August 24, 2020
Binance has been focused on India for a very long time. It acquired India’s leading crypto exchange WazirX in November last year and has been actively involved in the Indian crypto-blockchain industry since then. While the crypto industry in the country has had a bumpy ride, for the most part, demand for blockchain services in on the rise with IT giants like TCS and Infosys taking giant strides in the sector.
Being one of the biggest blockchain companies in the world gives Binance an edge in the Indian market, especially after acquiring WazirX. With the “Build for Bharat” initiative, creators, innovators, and builders of blockchain from across the country will get a chance to showcase their skills and prowess. The initiative is also Binance’s first hackathon and accelerator program focused on decentralized finance. Discussing about their initiative, Binance Co-founder and CEO Changpeng Zhao said,
The “Build for Bharat” initiative will allow selected start-ups to receive rewards from a fund of over ₹3,000,000. Apart from this, the winners will also receive accelerator funds from Polaris, and mentorship from the Binance team and other industry experts. Also, the winning projects will gain access to a host of platforms within the Binance ecosystem, including Binance DEX, Binance Launchpad, Binance Chain, etc.