Bitcoin exchange, Binance has announced that it is partnering with Women in Tech to provide Web3 vocational training for 2800 women in rural regions in South Africa and Brazil through its charitable arm, Binance Charity, in order to foster future entrepreneurship and job development.
According to daily trade volumes, Binance, which runs the biggest cryptocurrency exchange in the world, says Web3 is focused on teaching people about Blockchain technology and helping them comprehend the fundamentals of cryptocurrency.
Binance’s web3 intention signifies a rising interest in creating web3 experts in Africa. Last year, Silicon Valley-based startup, Polygon, targeted to support the continent in the next phase of Blockchain advancement. The Web3 Blockchain network had decided to train 2,000 professionals in Ethereum blockchain development in Nigeria, South Africa, Egypt, Kenya, and Rwanda.
Africa Blockchain Institute, Blockchain Academy, African Blockchain Center, Knowledge Academy, United Africa Blockchain Association, and Blockchain Research Institute Africa have all taken up the initiative to develop web3 in Africa. In 2021, over 10,000 African startups competed for $1 million to build innovative businesses around Blockchain technologies in an event sponsored by Humanity Node Protocol (HNP), Web3Africa, and Adanian Labs. Of the over $4 billion secured in 2021, 41 African Blockchain startups in eight countries had raised $127 million.
The continent is seeing an increase in the need for Blockchain developers, and startup owners believe the technology will serve as the foundation for the continent’s efforts to address some of its most critical challenges in the digital industry. Blockchain technology’s immutability opens up new avenues for transparent, decentralized, and fraud-proof solutions.
Stemming from the latest trends in this industry, including coding, Blockchain application, cryptocurrency, decentralization, non-fungible tokens (NFTs), metaverse, fan token, and trading, the training is reportedly focused on a wide range of abilities, according to Binance. In addition to these training courses, Binance has worked with UTIVA in Nigeria to teach 50 000 young people about Blockchain/Web3 and to offer scholarships to 1000 Africans for a one-year intense skill training course that would help them get jobs.
According to Helen Hai, head of Binance Charity, the response to the company’s Web3 education programs has been unprecedented, reflecting the tremendous thirst of so many people to learn about blockchain, DeFi [decentralized finance], NFTs, coding, and much more.
“And, we’re seeing interest from a diverse range of people, including a great ratio of women, which is something I feel particularly passionate about. With so many more education initiatives with amazing partners in the pipeline, we’ve never been more excited to build a more inclusive Web3 world.”
With annual salaries up to $172,000, blockchain developers are currently among the best-paid software developers in the world. The estimated value of the worldwide blockchain market in 2021 was $4.67 billion, and it is anticipated to increase to $163.83 billion by 2029 from $7.18 billion.