Binance Global Inc., the world’s largest crypto exchange, has announced that its philanthropic arm, Binance Charity Fund, will be funding 30,665 Web3 scholarships in 2023.
The Binance Charity Scholar Program aims to provide new students with the opportunity to develop skills and experience in the rapidly growing field of Web3 without financial barriers.
Web3 refers to the next generation of the internet, which is built on blockchain technology, cryptocurrency, and non-fungible tokens (NFTs). The scholarship program hopes to increase the diversity and talent of those working in this field.
In the past six months, Binance Charity has already donated over $2.2 million in BUSD, a dollar-pegged stablecoin founded by Binance and Paxos, and provided 36,500 scholarship placements from 82,000 applications.
These placements have been in educational facilities from all around the world, including Australia, Cyprus, France, Germany, Nigeria, and Senegal.
In addition to this, Binance Charity is also working with Ukrainian-based facilities to help retrain people who may have lost their jobs due to the Russian invasion.
The charity has also partnered with the non-profit organization Women in Tech to offer training to almost 3,000 women in South Africa and Brazil.
The demand for scholarships in the field of Web3 comes amid a high demand for software engineers. The U.S. Bureau of Labor Statistics predicts a 25% increase in employment positions for software engineers, or roughly 411,400 positions, over the next 10 years.
Binance Charity’s efforts aim to meet this demand and provide more opportunities for individuals to enter the field.