Algorand Expands Presence in India
Date: 2023-12-04 Author: Dima Zakharov Categories: BLOCKCHAIN
Algorand, a prominent blockchain platform, has broadened its footprint in India, forging new partnerships with key organizations like NASSCOM, a trade association, TiE Bangalore, a global entrepreneurial support enterprise, and the Mann Deshi Foundation, which advocates for India’s first rural bank for women.
Earlier this year, the Algorand Foundation established a branch in India, launching the AlgoBharat initiative, which collaborates with the Self-Employed Women's Association (SEWA) to support women-led enterprises developing blockchain solutions. Additionally, partnerships with Jawaharlal Nehru Technological University and the Indian School of Business have been initiated to introduce skill enhancement programs for educators.
The foundation will now focus on empowering youth in Web3 capabilities through the NASSCOM FutureSkills Prime center. Moreover, they plan to develop a blockchain-based credit card and identification system for women entrepreneurs in collaboration with the Mann Deshi Foundation, as revealed by Stacy Ward, the Algorand Foundation's CEO, and Anil Karkani, Head of India, in an interview with CoinDesk.
"Over the past year, our strategic partnerships and innovative blockchain solutions with key players in India have pioneered financial accessibility, potentially impacting millions in underserved communities," stated Ward.
Algorand has also initiated a new partnership with TiE Bangalore to implement educational initiatives supporting the Indian Web3 ecosystem.
Karkani mentioned that they are working on two types of partnerships: organizational to strengthen the Web3 foundation in India, including expanding the developer base, followed by collaborative relationships to create use-case scenarios.
"We are not approaching regulators with recommendations, but we await the central bank digital currency (CBDC). We want to explore how we can use it, but as a protocol, we primarily focus on real utility," said Karkani.
Previously, Algorand's partnership with T-Hub aimed at supporting startups and will now include launching Startup Labs, a program offering mentorship to 20 Web3 startups. T-Hub is a government-led technology incubator located in Telangana, a southern state in India.
Alongside SEWA, Algorand has launched a pilot project to assist women in earning valuable carbon credits through data collection using blockchain-based solutions.
