Blockchain for Good Alliance Launches Global Accelerator and Funding Initiative with UNDP

In a monumental step towards integrating technology with social impact, the Blockchain for Good Alliance (BGA) has officially launched the SDG Blockchain Accelerator in collaboration with the United Nations Development Programme (UNDP) and EMURGO Labs. This groundbreaking global initiative aims to address pressing economic development challenges through blockchain technology, focusing on achieving the United Nations' Sustainable Development Goals (SDGs).

A Vision for Sustainable Development

The Accelerator is designed to empower UNDP personnel and its partners by providing them with essential training, technological resources, support, and mentoring required to develop, test, and scale blockchain-based solutions aimed at real-world issues. Through this initiative, BGA aspires to contribute significantly to the global efforts towards achieving the SDGs, a collection of 17 objectives meant to address critical social, economic, and environmental challenges.

Glenn Tan, Managing Partner of BGA, stated, "We firmly believe that blockchain can transcend its role as just a technological tool; it possesses transformative potential that can reshape how we tackle the most urgent challenges faced by humanity today. This Accelerator is not merely an initiative; it is a rallying call for innovators globally to harness the power of blockchain for sustainable development."

Annual Cohorts and Capacity Building

The SDG Blockchain Accelerator will onboard two cohorts annually, each lasting four months, concentrating on capacity building, solution development, and the growth of the blockchain ecosystem. By leveraging the robust infrastructure of Cardano and the expertise available through EMURGO Labs, the program plans to incubate up to 40 unique blockchain solutions tailored towards specific SDGs. Moreover, a dedicated open-source resource hub will be created to ensure that knowledge and tools are widely accessible.

The initiative aims to enhance cooperation among various stakeholders, providing a platform for collaboration across different chains, thus amplifying the impact of blockchain technology within the development sector.

Strategic Support and Collaboration

The partnership with UNDP not only underscores the potential of blockchain but also emphasizes the collaboration across five global regions where funding and strategic assistance will be provided to blockchain projects that explicitly address the challenges associated with the SDGs. Teodor Petricevic, the Accelerator Lead at UNDP, remarked, "Blockchain is more than just a technology; it's a beacon of hope that can solve intricate issues plaguing our society. Through this program, we aim to promote bold alliances that utilize blockchain’s inherent transparency and efficiency to conceptualize groundbreaking solutions for communities worldwide."

Notably, BGA has received backing from prominent players in the blockchain space, including Bybit, which has committed $1 million to support EthicHub, a blockchain platform that empowers small farmers to enhance their operations. This financial support aims to foster ethical financing models and showcases the role of blockchain in developing transparent supply chains.

Expanding Impact in Europe

Earlier this year, BGA marked a pivotal moment by extending its reach into Europe. The alliance participated in a strategic roundtable organized by UNDP in Brussels, which focused on the empowerment of emerging technologies in the Western Balkans. This event brought together 30 influential delegates from UNDP, the European Commission, and leading Web3 organizations, facilitating discussions on the role of blockchain in sustainable development.

As BGA forges strategic partnerships and contributes to high-level policy dialogues, it recognizes the growing acknowledgment of blockchain as a catalyst for transparent, inclusive, and sustainable growth. The Alliance is committed to collaborating with like-minded organizations to advance practical solutions and position blockchain at the forefront of digital equity and innovation across the continent.

About Bybit and BGA

Bybit is the world's second-largest cryptocurrency exchange by trading volume, servicing over 60 million users globally since its inception in 2018. The platform is renowned for its strong focus on Web3 and robust security measures, aiming to bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi). BGA, on the other hand, is a non-profit collaboration initiative that galvanizes leaders, innovators, and organizations committed to addressing real-world challenges through blockchain technology. By facilitating innovation and action for a more sustainable and equitable world, BGA is paving the way for transformative change in society.

For more information about Bybit, please visit Bybit Press. To learn about the Blockchain for Good Alliance, check chainforgood.org.