Binance, the global blockchain company behind the world’s largest digital asset exchange, today launched ‘Build for Bharat’, a twofold program with a hackathon and acceleration opportunities for blockchain developers and startups in India.
The hackathon is sponsored by Google Cloud, along with leading technology companies Matic Network, Marlin Protocol, Band Protocol and Ankr cloud infrastructure, while the acceleration comes under Polaris, an initiative by the Blockchain for India 50M fund, launched by Binance and WazirX in March 2020.
Spanning over a few months -- from 24th August to 31st October 2020 -- the Build for Bharat hackathon will be open to creators, innovators, startups, and BUIDLers from all over India working on unique and creative products utilizing digital assets and blockchain technology. The solutions will be centered around decentralized finance (DeFi) such as mini-Tokens, micro-financing products, blockchain datasets, blockchain-AI solutions and more.
“India has been one of the most interesting countries Binance has tapped into!” said Binance CEO Changpeng Zhao (CZ). “We’ve seen entrepreneurs create robust blockchain-based solutions from scratch and scale it. With the second-largest blockchain developer base in the world - India has already kickstarted the revolution of decentralization and we’re here to fuel it!”
Selected participants will undergo three stages of filtration with 100 teams shortlisted in the first cohort, 20 teams in the second, and five teams in the final cohort. The finalists will receive rewards from a pool of 30,00,000 INR while the winning teams stand a chance to secure additional investment and mentorship opportunities under the Polaris accelerator, an initiative by the Blockchain for India fund.