Binance Global Inc. has announced that its arm, Binance Charity Fund, is funding 30,665 Web3 scholarships in 2023 through the Binance Charity Scholar Program.
Web3 is a term used to refer to the next iteration of the internet, which is built on blockchain technology, cryptocurrency, and non-fungible tokens (NFTs).
The Binance Charity Scholar Program aims to provide new students with the opportunity to develop skills and experience in the Web3 field without financial barriers, with the goal of increasing the diversity and talent of those working in the field.
In the past six months, Binance Charity has donated more than $2.2 million in BUSD, a dollar-pegged stablecoin founded by Binance and finance firm Paxos, and provided 36,500 scholarship placements from 82,000 applications.
These placements have been in educational facilities from around the world, including Australia, Cyprus, France, Germany, Nigeria, and Senegal.
Binance Charity is also working with Ukrainian-based facilities to help re-train people who may have lost their jobs due to the Russian invasion.
Additionally, the charity has partnered with the non-profit organization Women in Tech to offer training to almost 3,000 women in South Africa and Brazil.
The push for scholarships comes amid high demand for software engineers. The U.S. Bureau of Labor Statistics predicts that employment positions for software engineers will increase by 25%, or roughly 411,400 positions, over the next 10 years.
Binance Charity’s efforts to support and encourage the development of the Web3 field through scholarships, and help those in need, is a shining example of the power of philanthropy in the crypto space.