Binancethe the exchange most important in the worldannounced the launch of “Build for Bharat“. This is a project that seeks to stimulate the development of the ecosystem Blockchain in Indiaon the basis of a contest and a promise. For this reason, the first edition of this year focuses on a popular topic, the DeFi.
Binance launches “Build for Bharat”
Today, the project it has as main objective to encourage the development of projects Blockchain within India. To achieve this, the people of Binance, and their allies, decided to reward the people who bet on India as they.
In this regard, Changpeng Zhao (CZ), executive director of Binance, commented:
“India has been one of the most interesting countries in the Binance has agreed”.
He added: “We have seen entrepreneurs create solid solutions based on Blockchain. After all, India has already put in motion the revolution of decentralization, and we are here to motivate you“.
To achieve this, they developed the project Build for Bharat, a program that works in two stages. First will be a hackathon, where contestants will present their projects Blockchain, focused on solutions DeFi in this first edition.
The second stage is accelerate the project, implying that the winning projects from the hackathon will have the support of Binance, and friends, to make the project a reality.
In addition, it should be noted that the friends of Binance support different stages. Were distributed of the following way: The hackathon is sponsored by Google Cloud, Matic Network, Marlin Protocol, Band Protocol, Ankr. Whereas, the stage of acceleration is sponsored by Polaris Accelerator Program.
Conditions of the hackathon
Mainly looking for individual developers and startups in India that work in Mini-Tokens, products of micro-finance, sets of data of Blockchain, solutions Blockchain-AI, and other projects that follow that line.
However, while the first edition will focus on projects Defined, are encouraged to apply to the crypto entrepreneurs who are working on the construction of a proof-of-concept. As well as, developing products minimum viable (MVP) and other cases for Blockchain.
Through Build for Bharat, the startups selected will receive rewards of a group of more than 30.00.000 rupees, about US$ 40,000 approximately. While, the winning teams will receive a accelerationa boost in terms of funding, through Polaris, along with a tutorial near of industry experts and the team of Binance.
In addition, the winners will gain access to and support of the ecosystem Blockchain of Binance. Stressing that it is one of the most powerful tools in the ecosystem, crypto, considering that includes Binance Chain, Binance Cloud, Binance Launchpad, Binance DEX, and more.
Timetable of the program of Binance India
The Build for Bharat is divided into 3 parts, the first being the selection process of the projects. In this way, since the 24 August until 11 September will be accepting applications for contestants. Noting that, of all the projects listed, only 100 will be shortlisted to tender.
Then, the 12 of September to the 30th of the same month, will be the qualifying round. In this part, there will be other meetings to rank the projects. So, once filtering to the 100 contestants, is decide to only 20 finalists.
In the last part of the hackathon, the 1st of October until the 31st of the same monththe finalists will be provided with a tutoring service, so they can continue their project. However, the same guardians, and team members of Binance will be evaluating the performance of the contestant.
In this way, according to the results obtained, will be selected to the 5 best projects, which will be able to fulfill your dream of making your project a reality.