Binance Charity to provide over 30K Web3 scholarships in 2023

January 22, 2023 Coin Telegraph

Among the education centers involved include colleges in Australia, Cyprus and Germany, Nigerian-based tech hub Utiva, Women in Tech, and two Ukrainian organizations.

The philanthropic arm of Binance — Binance Charity — is set to fund 30,65 scholarships to students keen on forging out a career in Web3 in 2023.

The Binance Charity Scholar Program (BCSP) will provide free Web3 education and training courses which will enable tech-savvy students to upskill without having to leap-frog any unnecessary financial barriers, Binance Charity explained, in a January 20 blog post:

“We recognize that digital education and skills development can be out of reach for many, resulting in a blockchain industry that lacks diversity and talent. The Binance Scholar Program changes all that, covering the costs of tuition and course fees at some of the world’s leading universities, colleges and vocational training providers.”

The blog stated that over 82,000 applicants were interested in becoming a part of the next BCSP cohort, which equates to an acceptance rate of about 37%.

Amongst the education partners getting involved include University of Western Australia, University of Nicosia in Cyprus, Frankfurt School of Finance & Management in Germany, and Nigerian-based technology hub Utiva.

French-based tuition-free training center Simplon, Women In Tech, Kyiv IT Cluster, and Ukraine’s Ministry of Digital Transformation will also host some of BCSP’s events.

Binance Charity said they partnered with the Ukraine-based departments to help re-train Ukrainians who may have lost their jobs due to the war with Russia.

The partnership with Women In Tech will endeavor to train about 3,000 women in rural South Africa and Brazil to support future female entrepreneurs.

Binance Charity will also receive partnership support from Binance Academy — the company’s non-profit blockchain education portal.

In 2022 alone, Binance Charity hraised more than $3.5 million — most coming in the form of Binance USD (BUSD) — which helped fund over 290,000 hours of Web3 education and training courses.

Our @BinanceBCF team has travelled across the globe this year, offering help and education to those in need.

As we roll into the new year, let's look back on everything #Binance Charity has achieved in 2022. pic.twitter.com/mBSpD0jpaF
— Binance (@binance) December 30, 2022

Head of Binance Charity Helen Hai said interest in the program continues to grow in spades:

“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.”

“We’re seeing interest from a diverse range of people, including a great ratio of women [...] 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,” she added.

Binance Charity did not confirm when the 30,000+ positions would be filled and when each of the scholar programs would start.

Ukrainian Steals Bitcoin From Russian Darknet Market, Donates to Charity

December 26, 2022 Bitcoin.com

Who has returned donations or contributions from FTX amid the firm’s reputational risks?

December 20, 2022 Coin Telegraph

Charity

Politicians and news organizations have reportedly planned to return roughly $6.6 million in donations from FTX — a mere fraction of the crypto exchange's estimated contributions.

Before its downfall, crypto exchange FTX and its then-CEO Sam Bankman-Fried had been some of the most prolific spenders in the space, bailing out crypto firms and donating to political campaigns and media outlets. With more than 1 million FTX creditors looking to be made whole, what’s happening with these funds?

Bankman-Fried said in May he had been willing to donate between $100 million and $1 billion to lawmakers as part of elections in 2024. Bloomberg reported on Dec. 12 — hours before SBF’s arrest in The Bahamas — that the total donations could be at least $73 million, given directly to candidates or through political action committees (PACs).

Though many of Bankman-Fried’s and FTX's donations to Democrats were noted with the Federal Election Commission as part of the public record, the former CEO implied in a December interview that Republicans had received roughly the same amount in “dark” donations. North Dakota Senator John Hoeven, a Republican, reportedly donated to the Salvation Army the $11,600 he received from SBF and former FTX co-CEO Ryan Salame.

The Democratic National Committee, Democratic Senatorial Campaign Committee and the Democratic Congressional Campaign Committee all reportedly pledged to return more than $1 million in donations from SBF they had collectively received since 2020. CNBC reported on Dec. 20 that the Senate Majority PAC — supporting Democratic candidates — planned to return the roughly $1 million received from Bankman-Fried and $2 million from former FTX engineer Nishad Singh.

U.S. President Joe Biden, whose 2020 presidential campaign accepted $5.2 million in donations from Bankman-Fried, has not commented on what he intends to do with the funds. Texas gubernatorial candidate Beto O’Rourke — a Democrat who lost his race against incumbent Greg Abbott — reportedly returned a $1 million donation from SBF prior to the 2022 election. New York Representative Hakeem Jeffries and Illinois Senator Dick Durbin have also reportedly donated funds they received to unnamed charities.

These estimates suggest roughly an additional $5 million available to creditors following bankruptcy proceedings, solely from FTX's political contributions.

Along with lobbying politicians, FTX and SBF were directly responsible for loans and grants to news organizations in and out of the crypto space. On Dec. 9, the CEO of crypto news site The Block resigned after accepting and failing to disclose two loans totaling $27 million from Alameda Research, as well as a reported $16-million loan used to purchase property in The Bahamas.

It’s unclear whether The Block or its former CEO is willing to make some FTX investors whole by restructuring. However, Axios reported on Dec. 20 that nonprofit news organization ProPublica planned to return $1.6 million it had received from Bankman-Fried's family foundation as part of a grant, with the funds sent to a separate account until authorities determine the best course of action.

Total estimated returns? $6.6 million.

FTX Users: “Where’s my money?”

Sam: pic.twitter.com/TbfZYlnjIM
— (@DMNDMINE) November 16, 2022

On Dec. 19, FTX announced a “voluntary return” plan for recipients of contributions from the crypto exchange or its executives, hinting at legal action if the funds were not returned. It’s unclear whether all funds will be required to be returned to FTX debtors handling the bankruptcy and reimbursing creditors, or third parties have the option of sending funds directly to the latter.

Bankman-Fried’s legal team reportedly said on Dec. 19 that the former CEO would not fight extradition proceedings to the United States, where he would face charges related to violations of campaign finance laws, wire fraud, and securities fraud. He could be looking at a 115-year sentence if convicted.

Stellar partners with UNHCR to give Ukrainian refugees cash via USDC

December 16, 2022 Coin Telegraph

aid

One new project attempts to help bankless Ukrainian refugees, while another hopes to streamline international Red Cross projects.

Humanitarian groups have increasingly used blockchain technology to solve problems with lack of banking or inadequate identity verification in developing or war-torn nations.

Two new projects have been announced in December, including one that provides cash aid to Ukrainian refugees through the Stellar network and another that plans to offer cash and vouchers through the Partisia network.

But past blockchain projects have had mixed results. Some projects have been effective at allowing recipients to bypass red tape and receive the aid they need, but with others the use of blockchain has turned out to be superfluous.

On Dec. 15, Stellar Development Foundation announced that it has formed a partnership with the United Nations High Commissioner for Refugees (UNHCR) to offer USD Coin (USDC) on the Stellar network as a form of cash assistance to Ukrainian refugees.

The USDC tokens will be redeemable at any MoneyGram location. The creators of the program believe this will make it easier for refugees to receive aid even if they don’t have bank accounts or can’t access the ones they do have.

Just announced: @RESCUEorg and @StellarOrg announced a first-of-its-kind blockchain-powered aid disbursement system available today in Ukraine. #StellarIRL https://t.co/310U1GBqt2
— Stellar (@StellarOrg) December 15, 2022

Tori Samples, Stellar Aid Assistant Product Manager, told Cointelegraph that by partnering with Moneygram for cash-out and Circle's USDC digital dollar “the whole solution becomes meaningful and accessible for people living in crisis."

“This product was specifically designed to meet the needs of aid organizations delivering assistance in difficult environments. It can't be experimental or not hold up to real-world use. Donor dollars are some of the most scrutinized in the entire world. The fact that some of the largest aid organizations are using Stellar Aid Assist today in Ukraine shows that it has real-world value and the potential to scale.”

Earlier this month on Dec. 2, Partisia Blockchain Foundation held a “hackathon” in collaboration with the International Committee of the Red Cross (ICRC). The goal of the event was to find ways that the Partisia network could be used to make Red Cross humanitarian aid payments more efficient.

History of ‘Humanitarian Blockchain’

While these attempts to utilize blockchain are worthy, the sector has a checkered history.

In an August, 2022 paper titled Humanitarian Blockchain: Inventory and Recommendations, researchers from the Digital Humanitarian Network examined past attempts to leverage blockchain for the benefit of aid recipients. They found that blockchain did help some organizations to be more efficient at delivering aid, but in other cases, the technology had to be discarded because it didn’t add value.

It cited Building Blocks, a blockchain initiative started by the World Food Programme (WFG) as an example of a successful project. It aimed to solve the problem of duplicative aid, or multiple aid services providing the same aid to the same people.

The project involved a permissioned blockchain network that allowed different aid organizations to collaborate with each other and share data. This removed silos between humanitarian groups and helped them to effectively target their aid where it was most effective. Building Blocks is still in operation today.

On the other hand, Direct Cash Aid, a program created by a consortium of 121 different humanitarian groups, had to abandon blockchain after it was found that the tech didn’t help its goals. Direct Cash Aid intended to use a blockchain-based self-sovereign identity (SSI) to help recipients in Ethiopia, Malawi, Kenya, and the Netherlands who couldn’t establish their own proof of identity.

After experimenting with SSI, the program administrators realized that most recipients didn’t have smartphones, nor could they get adequate internet access. In addition, many aid organizations didn’t want to collaborate or didn’t trust the identity verification performed by other organizations. As a result, the SSIs created by the program “proved to currently have no value.” The program ended up scrapping its blockchain aspects in favor of more centralized identity verification systems.

What the Russia-Ukraine conflict has revealed about crypto

October 28, 2022 Coin Telegraph

Charity

Cryptocurrencies are being used to provide military and humanitarian aid in the Russia-Ukraine conflict.

The Russia-Ukraine conflict has tested the capabilities of crypto in a real-world conflict where sanctions and inventive blockchain crowdfunding models abound.

The war, which is drawing into its ninth month, has uncovered a raft of blockchain benefits, such as the capacity to support humanitarian endeavors. It has also revealed how much control national authorities can exert over crypto networks.

Vadym Synegin, co-founder at IT and crypto solutions provider Tecor, told Cointelegraph that cryptocurrencies have a unique advantage in situations where there is an increased risk of money transfer interruptions due to the centralization of conventional systems.

“With most markets controlled by centralized authority figures that can easily buckle under the political tensions, the crypto markets remain more or less decentralized, meaning that their operational efficiencies during periods of crisis are further enhanced,” he said.

So, what other aspects has the Russia-Ukraine conflict revealed about crypto?

Crypto donations for humanitarian aid

The Russia-Ukraine conflict has shown that cryptocurrencies can be used for fundraising in military conflicts. Notably, the Ukrainian government began accepting crypto donations at the beginning of the year in a bid to enhance donor inclusivity, and this led to the creation of the Crypto Fund of Ukraine.

The nation’s Ministry of Digital Transformation is currently in charge of the fund, which was set up in conjunction with Kuna, FTX and Everstake to buttress Ukraine’s humanitarian aid and military programs. The project has enabled the Ukrainian government to raise over $100 million in cryptocurrency donations so far.

That said, some pro-Ukraine crypto fundraising groups have turned to novel crypto instruments such as decentralized autonomous organizations (DAOs) to raise funds for the nation.

The UkraineDAO, which is among the most prominent of the lot, was created in February for the sole purpose of providing monetary support to Ukrainian soldiers. The project’s co-founders include Russian critic Nadya Tolokonnikova, who is also a founding member of the Pussy Riot feminist protest group. Other UkraineDAO founding members include PleasrDAO and Trippy Labs, a generative NFT studio. The project has raised over $8 million so far.

Among the most notable successes of the UkraineDAO was the recent sale of a nonfungible token (NFT) of the Ukrainian flag that fetched just over $6 million in Ether (ETH). It is currently ranked among the top 20 most expensive NFTs of all time.

Recent: Does the IMF have a vendetta against cryptocurrencies?

Cointelegraph had the chance to speak with Kayla Kroot, the co-founder of the Koii Network, regarding the current use of crypto in the Ukraine situation. Her company is involved in the development of novel blockchain models, including Web3.

According to the executive, cryptocurrencies have enabled citizens caught up in the war to maintain access to their money during these trying times:

“Cryptocurrency was developed to help global citizens maintain control of their money.”

Kroot also noted the increased use of digital coins by humanitarian groups operating in the nation. “Organizations such as World Central Kitchen performed crowdfunding campaigns. In WCK’s case, this involved accepting donations in ETH. These funds were dispersed with fewer restrictions and oversight, allowing money to more easily get to the hands of those who needed it most,” she added.

Scammers take advantage of well-wishers

While crypto donations have been helpful in furthering the Ukrainian cause, some malicious entities have blighted noble efforts by well-wishers.

Some scammer syndicates have attempted to beguile donors by pretending to be representatives of authorized crypto exchanges involved in Ukraine fundraising efforts. Cybersecurity experts estimate that millions of deceptive emails employing the tactic have been sent out so far.

Some of the emails contain messages of distress from cybercriminals purporting to be Ukrainians in dire need of financial aid.

The influx of such messages subverts the cause of helping Ukrainians by making it harder for the real victims to get the help they need.

There have also been reports of scam messages being spread on social media platforms. At this juncture, it is important to note that well-wishers should only donate their crypto via official Ukrainian government channels in order to avoid possible scams.

Besides fraudulent posts appearing on social media, scam messages soliciting crypto are also popping up on the dark web.

The dark web is an overlay internet network made up of unindexed websites that are invisible to standard browsers and search engines and can only be accessed using special browsers.

The dark web is intentionally hidden from regular users for a good reason. It harbors all manner of illegal activity that includes black markets for illegal drugs and guns. Blackhats also use the dark web to sell stolen personal credentials.

As such, there is little surprise that scammers are spreading fake messages on the dark web to cheat Ukraine supporters out of funds. Many of the messages have been found to contain links to phishing sites that are designed to steal crypto.

According to a McAfee investigation into the schemes, some of the websites utilize fake chatboxes to simulate user activity, while others make use of mock-up donation verifiers to look more authentic.

Early on in the Russia-Ukraine war, a more sophisticated group of fraudsters attempted to carry out a scam fundraising effort using the Peaceful World (WORLD) token. This is after the Ukrainian government announced an airdrop and then subsequently canceled it.

The scammers launched the fake airdrop hours before the government scrapped the move in favor of NFTs. Industry experts and security analysts were quick to point out discrepancies in the fake giveaway, thereby forestalling the scheme.

Governments can limit crypto

Satoshi Nakamoto, the pseudonymous creator of Bitcoin (BTC), developed the first cryptocurrency in order to devolve the control of money away from governments and centralized financial institutions.

However, the Russia-Ukraine conflict has demonstrated that it’s possible for regional blocs and major jurisdictions to impose bans and exert control over cryptocurrencies.

In October, the European Commission announced sweeping sanctions targeting Russian crypto custodial wallets under the control of European enterprises and exchanges. EU blockchain companies were additionally prohibited from providing crypto custodial services to Russian entities.

The new laws were enacted in response to Russia’s invasion of Ukraine in order to prevent Russia from evading sanctions.

Previous restrictions placed a trade and deposit limit of up to 10,000 euros on Russian crypto wallets and accounts.

Recent EU crypto enactments have forced some major exchanges, such as Binance and Coinbase, which have operations in Europe, to restrict services to Russian individuals and companies to avoid a regulatory clash.

Other regulated crypto exchanges such as Kraken, Crypto.com and Blockchain.com have also ceased providing crypto services to Russian citizens as a result.

Meanwhile, Russian authorities seem unsure of how to handle the flurry of crypto wallet prohibitions and the occlusion of major Russian banks from the SWIFT money transfer system. The ban on these systems has effectively locked out the nation from major international financial markets.

In July, the Kremlin passed a law that banned the use of cryptocurrencies for making payments. However, the Russian government recently changed its tone. In September, the Russian central bank and the Ministry of Finance agreed to allow the use of cryptocurrencies for cross-border payments.

Recent: Bitcoin miners rethink business strategies to survive long-term

The move was designed to promote the use of local crypto exchanges amid rising geopolitical tensions that left many Russians with limited options.

The Russia–Ukraine conflict has showcased the use of crypto in community effort settings for the common good. While the Ukrainian government has raised millions of dollars from direct crypto donations, some digital currency fundraising efforts have been undermined by scammers out to make a profit from the war.

More crypto advantages and limitations are likely to crop up as use cases emerge in more diverse environments.

NFTs and crypto provide fundraising options for breast cancer awareness

October 13, 2022 Coin Telegraph

Analysis

Organizations are partnering with NFT projects and accepting crypto donations to draw attention to Breast Cancer Awareness Month.

The hype around nonfungible tokens (NFTs) may be fading, yet a number of organizations continue to implement Web3 initiatives. Nonprofit organizations and activists, in particular, have begun implementing nonfungible token projects to help fundraise and generate awareness for certain causes.

While these methods are still new, NFT projects for philanthropy have been met with relative success. A recent report from crypto donation platform The Giving Block found that nonprofits using The Giving Block received more than $12.3 million dollars in cryptocurrency donations from NFT-related charitable giving initiatives in 2021. The report further noted that charitable organizations using NFTs are presented with the opportunity to connect with younger donor demographics while diversifying donation methods.

NFT projects for Breast Cancer Awareness Month

Benefits such as these can be especially helpful for raising awareness around life-threatening diseases. number of breast cancer-focused organizations have started implementing NFTs this October to highlight Breast Cancer Awareness Month.

For example, Shaney jo Darden, founder of the Keep A Breast Foundation (KAB) — a California-based nonprofit that aims to reduce breast cancer risk — told Cointelegraph that KAB focuses on engaging with younger generations to bring attention to breast cancer. She said:

“Even though women over the age of 40 are typically diagnosed with breast cancer, early detection can result in a 98% survival rate. Given this, KAB aims to generate awareness about breast cancer through encouraging and fun ways, like using NFTs to educate young women.”

Darden said that last year, KAB hosted an exhibition in the CryptoVoxels metaverse to raise money for breast cancer research. “We wanted to do an event in the Metaverse as opposed to conducting a membership drive or gala, since this opens access globally,” she noted. Based on the success of this, Darden explained that she wanted to continue to implement Web3 initiatives — especially those involving artwork created by women — to generate awareness around breast cancer. Most recently, Darden partnered with the NFT project NFTitties to raise funds for KAB’s breast cancer prevention and educational initiatives.

Carlota Dochao Naveira, founder of NFTitties, told Cointelegraph that the women-led project celebrates women, art and breasts to raise funds to fight breast cancer. “Emerging artists and activists were invited to submit an artwork representing breasts, following a set of visual guidelines. The artworks were then vetted and, if selected, included in the first release of NFTitties,” she said.

*NFTitties #1.14 by Medici_Labs. Source: OpenSea*

According to Dochao Naveira, almost 30 NFTs were sold during the first week the project launched on Oct.1. She further pointed out that NFTitties has helped onboard more women into the Web3 ecosystem since the initiative encourages women artists, activists and others to submit their artwork to be presented as nonfungible tokens.

Other organizations are implementing different forms of NFTs to educate individuals on this type of cancer that affects one in eight women. For example, the women’s handbag designer Vera Bradley announced on Oct. 3 that it will be donating almost 100% of the proceeds generated from its fashion NFT drops to The Vera Bradley Foundation for Breast Cancer.

Jennifer Bova, vice president of marketing at Vera Bradley, told Cointelegraph that to date, the foundation has raised and donated more than $38 million to support critical advancements in breast cancer research. Yet, Bova noted that Vera Bradley has started focusing on marketing in the Metaverse to attract new users by attaching philanthropic utility to its digital and physical fashion NFTs. “Through its NFT PFP backgrounds, Vera Bradley hopes to drive awareness for fundraising, as well as female-led conversations and initiatives in Web3,” she said.

We're proud to announce through @TheGivingBlock, we're now accepting #DOT donations to support lifesaving research in all areas of #breastcancer, from basic biology to prevention to treatment & to survivorship. Donate @Polkadot and 80+ other #cryptos today https://t.co/XoT7atRdV5 pic.twitter.com/JgTYBx1JkQ
— Susan G. Komen (@SusanGKomen) August 10, 2022

It’s also notable that Susan G. Komen, a leading breast cancer research foundation, recently began accepting crypto donations to enable cryptocurrency holders to give back. Michelle Strong, vice president of marketing strategy at Susan G. Komen, told Cointelegraph that about a year and a half ago, the organization began receiving requests from individuals interested in donating cryptocurrency:

“We implemented this feature nearly a year ago with the help of The Giving Block. This has driven interest from both current and new donors, as crypto donations have opened doors to those who haven’t been able to give before but were interested in being charitable.”

Based on the successful implementation of crypto donations over the past year, Strong mentioned that Susan G. Komen will be incorporating crypto donations, along with other digital donations received during the week of Oct. 9–15, to fund the organization’s metastatic breast cancer excellence in research award.

“Oct. 13 this year is ‘metastatic breast cancer’ day, which is the most advanced stage of the disease. Susan G. Komen is giving out the excellence in research award to bolster investment around this specific area of research and cryptocurrency is another great way to support this,” she remarked.

Web3 initiatives are helpful, but not necessarily better

While the use of NFTs and crypto donations to support breast cancer is innovative, these initiatives are still only helpful ways to bring attention to certain causes. For instance, Bova pointed out that driving awareness and funds for breast cancer research in the Metaverse is not necessarily better but rather an additive resource to tap into new donors and volunteers. Echoing this, Darden mentioned that incorporating NFT projects with KAB enables the organization to diversify its funding, yet it hasn’t proven to be a better solution in comparison to traditional fundraising mechanisms:

“Many NFT projects die out over time, so KAB is taking a risk by being a part of certain projects. However, NFTitties has a clear goal and beautiful art that resonates with the KAB community.”

Indeed, even though there are a number of risks associated with NFT projects, nonfungible tokens remain appealing when it comes to increasing user engagement and interest.

“Susan G. Komen is happy to benefit from NFT projects that others are able to pull together. We are currently in conversation with an NFT project that aims to benefit our organization,” Strong noted.

Yet, it’s also important to point out that, in addition to risks, there are challenges associated with implementing such projects.

According to Dochao Naveira, targeting traditional NFT investors can be difficult when it comes to women-led initiatives “There tends to be a bro-culture in the Web3 space that doesn’t care as much about certain projects. There can also be difficulties with helping mainstream users set up a MetaMask wallet,” she said.

But, as time progresses, Web3 projects aim to incorporate new features to help ease onboarding and educate new users. For example, Carmen Toal, CEO and co-founder of Sprkl NFT Studios — a platform working with nonprofits and individuals to implement NFT technologies — told Cointelegraph that mainstream users typically need more guidance when it comes to participating in NFT projects.

As such, she mentioned that Sparkl NFT Studios incorporates familiarities with charitable NFT initiatives. “We sometimes include a ‘donate now’ button that is not directly attached to an NFT,” she said.

Most recently, Sprkl NFT Studios partnered with the National Breast Cancer Foundation, Inc. (NBCF) on an NFT artwork fundraising campaign for Breast Cancer Awareness Month. Candice Hensley, senior manager of strategic partnerships at NBCF, further told Cointelegraph that working with Sprkl NFT Studios is part of the organization’s strategic plan to diversify its funds.

*Sprkl NFT Studios commissioned artist Pola a Yim to create and draw an original flower bouquet for a digital NFT to support Breast Cancer Awareness. Source: Sprkl NFT Studios*

Polygon partners with ocean conservation NGO to advance ocean literacy

October 6, 2022 Coin Telegraph

Charity

Participants can explore the RV Odyssey — one of the most advanced ocean research vessels around the globe — via the Metaverse.

Decentralized Ethereum scaling platform, Polygon, has announced a partnership with the Ocean Conservation Exploration and Education Foundation (OCEEF) to promote ocean literacy through new creative, entertaining, and engaging ways to give people exposure to deep underwater missions.

A new wave in ocean conservation @oceef_, a world class ocean conservation NGO, is working with #Polygon towards a next-gen ocean conservation initiative.

The aim is to offer interactive experiences via a governance platform where participants can assist in key decisions. pic.twitter.com/N40r3iu54f
— Polygon - MATIC (@0xPolygon) October 6, 2022

Polygon shared that the aim of this collaboration is to offer interactive experiences via a governance platform where participants can help in making key decisions surrounding the RV Odyssey — one of the most advanced ocean research vessels around the globe. Participants will be able to explore the state-of-the-art research vessel via immersive and interactive experiences in the Metaverse.

The partnership intends to allow participants to play a key role in deciding the vessel's future itinerary, research, and even engage in the missions on board through the metaverse and other Web3 tools.

At the Green Blockchain Summit 2.0 hosted by Polygon, OCEEF Founder Alex Moukas said:

"Using our Polygon partnership and its carbon-neutral tech as a launchpad, we will be using technology to democratize access to the vessel through multiple Web3 platforms as well as provide participants with the ability to help decide the vessel's future itinerary and research.”

OCEEF will also allow groups of students to join their teams for different missions and dives. These opportunities will be made available through NFTs which would go towards funding the project.

Sandeep Nailwal, the co-founder of Polygon spoke on the subject, saying:

"Being able to facilitate a global endeavor such as the one that OCEEF is undertaking is very humbling. I know that our technology is up to the task of bringing these types of immersive, educational, and change-making experiences to people all over the globe."

In April, Polygon’s core team committed to becoming carbon negative by the end of the year and dedicated $20 million to climate-related projects. Since then, Polygon claimed to hav achieved carbon-neutral status, eliminating 104,794 tonnes of greenhouse gasses, more than the entirety of the network’s CO2 debt since inception.

Charity