Although Indian administration and the Indian government has not made any special comment or statement about the use or misuse of blockchain technology, businesses all around the world are targeting India for development of Blockchain Technology. In an effort made by Binance, it has been planning a Hackathon in India for the accelerator program in Blockchain technology.
Although the Prime Minister of India has positive things to say about Blockchain technology and crypto technology, many believe that the environment in India is not appropriate to start the blockchain technology. Companies and businesses around the world are eyeing positive regulation from India on blockchain technology. India is a country with a large population, and the introduction of blockchain technology will certainly improve the way Indian markets operate.
What’s the new program by Binance:
Binance has targeted the tech folks in India to participate in the new DeFi hackathon. Binance is one of the biggest crypto exchanges in the world, and its program is launched by the name “Build for Bharat”. This is a two-fold program that is focussed towards a hackathon as well as an accelerator program. The main purpose of this program is to encourage the mass adoption of blockchain technology in India. As per Finance, it is important to bridge the gap between the adoption of bitcoin technology and the acceptance of technology by mass in India.
Hackathon and Accelerator program:
This new opportunity is brought by Binance and WazirX, and it is created to help traders, builders, creators, and innovators in India. Both Binance and WazirX are focussed towards strengthening the blockchain ecosystem in India. They started the program together initially. But, later on, many other sponsors joined them.
As per the official information, this program will expand up to three months, and it is divided into three different groups.
These three groups include:
The Genesis program will begin on August 24, and the application will be accepted from 100 teams, and it will be sorted by September 2020.
The trial phase will start on September 11, and it will get completed by September 30. Under this phase, different meetups and qualifier rounds will be set up.
In this phase, mentoring sessions will be held with the performance evaluation of teams. This phase will last until October 30.
The result of the top 5 winners will be announced after the conclusion of all these phases. If you are interested in the hackathon by Binance, join and register soon.