Binance will fund over 30,000 Web3 scholarships this year

Binance offers 30,665 Web3 scholarships through its Binance Charity Fund. The company aims to increase talent and diversity in the blockchain industry by providing students with relevant skills.

Scholarship money

The world's biggest crypto exchange informed about its plans to offer 30,665 scholarships in the Web3 field through its philanthropic arm, Binance Charity Fund. The Binance Charity Scholar Program (BCSP) aims to provide students worldwide with the opportunity to acquire skills and experience in the growing Web3 industry "without financial barriers," as well as increase the diversity in the field.

"The response to our Web3 education projects has been unprecedented, showing the keen appetite of so many people to learn about blockchain, De-Fi, NFTs, coding and much more," said Helen Hai, Head of Binance Charity.

The organization has already donated over $2.2 million in the form of a dollar-pegged stablecoin, BUSD, and provided 36,500 scholarships to applicants from around the world who filed over 82,000 applications last year.

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The scholarship recipients include leading educational organizations from countries such as Australia, Brazil, Cyprus, France, Germany, Nigeria, Senegal, and South Africa. Institutions involved in Binance's project include the University of Western Australia, the University of Nicosia, the Frankfurt School of Finance & Management (Blockchain Center), Kyiv IT Cluster.

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Examples of Binance-sponsored initiatives include collaboration with:

- Ukrainian institutions to assist in retraining people who lost their jobs due to the Russian invasion,

- Women in Tech to offer upskilling opportunities to almost 3,000 women in South Africa and Brazil,

- Nigerian educational tech hub Utiva to educate 50,000 youths about Web3 and enable them to find blockchain-related employment.

Donations from Binance have already paid for 259,180 hours of Web3-related education and training.

The initiative to increase scholarships comes as the demand for software developers continues to rise, with the U.S. Bureau of Labor Statistics projecting a 25% rise in jobs for software engineers over the next ten years.