Binance Introduces “Decentralized Africa” Offering $30,000 For DeFi Builders

Binance Introduces “Decentralized Africa” Offering $30,000 For DeFi Builders

By
Ahamdi Abarikwu
on
June 3, 2021
Category:
BSC News

Binance’s Support in Africa

Binance - the world's biggest cryptocurrency exchange, remains Africa's best friend as far as crypto is concerned. The exchange has been at the forefront of decentralized finance (DeFi), driving the adoption of crypto in Africa. Through several initiatives, Binance has helped increase Africa's crypto awareness and bring DeFi closer to the African community. 

In 2020, Binance organised virtual courses to educate the African youth on the basics of crypto. Over 70,000 people successfully participated in the course. In January 2021, Binance conducted an 8-week Masterclass to train 1000 developers from Africa on decentralized apps development. Many startups from Africa, like Xend Finance, Bundle, Raise, Bit Sika etc., also received funds from Binance to support their development. 


More Support For Africa

Source

Not letting up in its push to make Africa a thriving crypto and DeFi hub, Binance has announced that it will hold a Binance Smart Chain (BSC) Hackathon exclusively for Africa. A hackathon is an event - often an incentivised one, that brings together developers to brainstorm and collaborate on software development. The BSC Hackathon for Africa is themed, “Decentralized Africa.” It is designed to support developers to build blockchain projects on BSC that will help solve problems unique to Africa.

Decentralised Africa will run from June 7 to June 28. It will focus on the development of DeFi and NFT projects that will have application in election management, identity management, savings, and credit. Participants in the hackathon will compete for a prize pool of $30,000 in grants, NFTs, etc. 


How To Participate In The Decentralised Africa Hackathon

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The event is open to developers, coders, and creators in Africa. Both beginners and experienced developers are welcome. Binance aims to incentivise brilliant ideas that need incubation and support; To take part in the Hackathon:

1. Join the Telegram group for the event. 

2. Sign up here

3. Secure a space for the opening ceremony here


Binance is Zestful About Blockchain Development

Binance has been very enthusiastic about blockchain adoption. Besides the platform's initiatives in Africa, Binance has committed a $100 million accelerator fund to support the development of projects on BSC. Projects with good prospects can attract as much as $100,000 in funding.

So far, about 15 blockchain projects, including Blink, Bounce, JustLiquidity, AnySwap, among others have benefited from Binance’s Accelerator fund in aid of their growth.

Binance is committed to helping developers convert their brilliant ideas into working products. To apply for the funding, fill the form here.


Last Words

These are really good times for blockchain development in Africa. The world's largest crypto exchange, Binance, is unrelenting in supporting the development and adoption of blockchain/DeFi in Africa. The 'Decentralized Africa' Hackathon is one of many efforts by Binance to encourage developers to build projects on BSC that will have practical application in Africa's development. 


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Ahamdi Abarikwu

Ahamdi Abarikwu is an Electrical Engineer and a lover of anything crypto. He is also an avid writer, proofreader and editor. He loves to play Scrabble in his spare time.

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