The Core Foundation announced on Saturday, a $5 million innovation fund to support India’s thriving Web3 communities.
TakeAway Points:
- The Core Foundation announced the release of a $5million fund to support Web3 communities in India.
- This initiative aims to empower the Web3 community and offer essential assistance to Indian entrepreneurs and builders.
- However, it is also looking for creative Indian builders and developers that would like to work on Core Chain.
Core Foundation Funds Web3
The programme aims to improve education, empower the Web3 community, and offer essential assistance to Indian entrepreneurs and builders. It also seeks to assist developers in building decentralised apps (dApps) on Core Chain, an EVM blockchain protected by Bitcoin.
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However, the India Web3 industry, which has more than 450 firms and a staggering $1.3 billion in investments, is also flourishing in India, where the startup ecosystem is bouncing with activity. The Core Foundation’s goal is to empower Indian builders to stimulate growth.
According to the report, the initiative is looking for creative Indian builders and developers that would like to work on Core Chain.
“Developers from both Web2 and Web3 may easily start building on the blockchain with Core’s EVM compatibility,”
a Core Foundation spokesman said.
Core Foundation Access to India Market
The Core Foundation is implementing a plan to access the Indian market that involves collaborating with Web3 learning institutions and setting up builder meetings with the assistance of the Core Ambassador Programme.
“The Core DAO team holds the original values of Bitcoin and blockchain — permissionless participation, decentralization, and a P2P economy. The Ambassador program is focused on growing and empowering the community.”
As the first platform for smart contracts to be connected with Bitcoin, the core chain distinguished itself by acting as a highly scalable and complementary smart contract platform for Bitcoin. Core Chain is an L1 blockchain model via Bitcoin for Ethereum Combatible smart contracts that makes use of Nakamoto’s Consensus.
