Binance Launches ‘Build For Bharat’ India’s First DeFi Focused Hackathon

Binance, the global blockchain company and cryptocurrency exchange that provides a platform for trading various cryptocurrencies, has launched ‘Build for Bharat’, a two-fold program with hackathon and acceleration opportunities for blockchain developers and startups in India.

The hackathon is sponsored by Google Cloud, along with leading technology companies Matic Network, Marlin Protocol, Band Protocol and Ankr cloud infrastructure, while the acceleration comes under Polaris, an initiative by the Blockchain for India 50M fund, launched by Binance and WazirX in March 2020.

Spanning over a few months, from 24th August to 31st October 2020, the hackathon will be open to creators, innovators, startups, and BUIDLers from all over India working on unique and creative products, utilizing digital assets and blockchain technology. The solutions will be centered around decentralised finance (DeFi) such as mini-Tokens, micro financing products, blockchain datasets, blockchain-AI solutions and more.

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“India has been one of the most interesting countries Binance has tapped into. We’ve seen entrepreneurs create robust blockchain-based solutions from scratch and scale it. With the second largest blockchain developer base in the world – India has already kickstarted the revolution of decentralisation and we’re here to fuel it.” Binance CEO Changpeng Zhao (CZ) said in a statement.

Selected participants will undergo three stages of filtration with 100 teams shortlisted in the first cohort, 20 teams in the second, and five teams in the final cohort. The finalists will receive rewards from a pool of INR 30,00,000, while the winning teams stand a chance to secure additional investment and mentorship opportunities under the Polaris accelerator, an initiative by the Blockchain for India fund.

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The interested can apply for the program at the event registration website. Registrations for the program are open from today till 11th September 2020.

The event is managed by Lumos Labs, a Singapore-based innovation management platform.

Binance is one of the world’s largest cryptocurrency exchange by trading volume. Its exchange serves users from 180+ countries and regions. Its dual-chain architecture comprising Binance Chain and Binance Smart Chain empowers the developer community to build their own decentralised apps and digital assets on one blockchain, while also taking advantage of the fast trading performance offered on the Binance Decentralized Exchange (DEX).