Blockchain protocol Algorand (ALGO) has expanded its footprint in India by forging new partnerships with NASSCOM, India’s trade association and chamber of commerce for the technology industry, TiE Bangalore, a global enterprise supporting entrepreneurs, and the Mann Deshi Foundation India’s first rural development organization supports. sofa for women.
Earlier this year, the Algorand Foundation expanded to India with the AlgoBharat initiative. The word Bharat represents the nation of India. At the time, Algorand partnered with the Self Employed Women’s Association (SEWA) to support women-led businesses in building blockchain solutions, and with the Jawaharlal Nehru Technological University and the Indian School of Business to launch faculty development programs.
It will now build out Web3 capabilities of youth under NASSCOM’s FutureSkills Prime skills hub and develop a blockchain-based credit scorecard and identity system for the Mann Deshi Foundation’s women entrepreneurs, Algorand Foundation CEO Staci Warden and India Country Head Anil Kakani told CoinDesk in an interview.
“In just a year, our strategic partnerships and innovative blockchain solutions with key players (in India) have pioneered financial inclusion, with the potential to impact millions of lives in underserved communities,” Warden said.
The blockchain protocol has also seen a new partnership with TiE Bangalore, a global entrepreneur support company, to provide educational initiatives to support India’s Web3 ecosystem.
Kakani said we are working on two types of partnerships: organizational to deepen the Indian Web3 base, including broadening the developer base and then partnerships to build use cases.
“We are not going to the regulators with recommendations, but we are waiting for the arrival of the central bank digital currency (CBDC),” Kakani told CoinDesk. “We want to see how we can build on that, but as a protocol our emphasis is mainly on the practicality.”
Algorand’s previous partnership with T-Hub to simply support startups now includes the launch of ‘Startup Labs’, a program that provides mentorship to twenty Web3 startups. T-hub is a technology incubator led by the government of Telangana, a state in southern India.
With SEWA, Algorand has launched a pilot to help women earn high-quality carbon credits through data it will collect through a blockchain-based solution.