DFINITY’s $20M Grant Program To Drive Web3 Adoption In Asia

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The DFINITY Foundation has made a significant move in driving Web3 adoption in Asia with the launch of the ICP Asia Alliance and a generous $20 million grant program.

Empowering Asia’s Web3 And AI Ecosystems

The ICP Asia Alliance is seeking to bolster Web3 and AI ecosystems across Asia by propelling the adoption of the Internet Computer blockchain. This collaborative endeavor aims to unite a wide spectrum of stakeholders, including government bodies, investors, tech entrepreneurs, universities, developers, and community members. 

The Alliance aspires to empower individuals, businesses, and communities to harness the power of Web3 and AI technologies by establishing a platform for cooperation, education, and innovation.

Asia: A Thriving Hub  

Dominic Williams, Founder and Chief Scientist of the DFINITY Foundation, recognizes Asia’s pivotal role in the Internet Computer and the broader Web3 ecosystem. 

“Asia has emerged as a pivotal region for the Internet Computer and the broader Web3 ecosystem. Much of the early support and adoption for ICP and DFINITY originated from Asia, where some of the most talented ICP developers are based. Hong Kong has become a thriving global crypto hub thanks to progressive government initiatives embracing web3 technology, making it the ideal location to launch the new ICP Asia Alliance.”

Recent years have witnessed a trend of web3 and blockchain companies relocating or expanding their operations to Asia, solidifying the region’s status as a global hub for innovation in this space. 

This trend is further buoyed by progressive regulatory frameworks in major financial centers such as Hong Kong and Singapore. Hong Kong’s Securities and Futures Commission (SFC) has even introduced a regulatory framework for crypto trading platforms, accepting applications from leading crypto exchanges since June 1, 2023. This move will pave the way for enhanced virtual asset trading services.

ICP.Hubs: Fostering Community and Partnerships

ICP’s commitment to Asia’s growth is evident through the establishment of ICP.Hubs in key Asian regions, including Hong Kong, India, Malaysia, Philippines, South Korea, Indonesia, and Singapore that actively promote awareness, fostering adoption, and accelerating projects. 

They will collaborate closely with Alliance members to develop ICP solutions in their respective regions. Additionally, DFINITY is forging strategic partnerships with various Asian institutions and organizations that are poised to join the Alliance shortly.

The Alliance’s Vision

Mr. Williams further emphasized the Alliance’s mission to unite diverse stakeholders across Asia, facilitating collaboration between the public and private sectors. He claimed that this collaborative effort will channel the full potential of ICP to promote web3 adoption and AI innovation in the continent, postitioning Asia to lead the next chapter of the blockchain revolution.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.