DFINITY has launched a new initiative to boost its presence in the Web3 world, especially in the APAC region (Asia-Pacific), promoting the Web3 sector in this region.
The DFINITY Foundation (DFINITY), a research and development organization The non-profit and a major contributor to the Internet Computer Protocol (ICP) project, recently announced the launch of the ICP Asia Alliance. This new project will be accompanied by a $20 million grant. The goal is to support the growth and development of Asia-based initiatives, especially those in the field of blockchain and AI development.
In this way, ICP Asia Alliance seeks to be at the forefront of fostering a vibrant Web3 and AI ecosystem in Asia, focusing on driving the adoption of DFINITY’s Internet Computer blockchain. The new organisation is made up of a wide range of stakeholders, including government organisations, investors, technology entrepreneurs, universities, developers and community members. By establishing a platform for collaboration, education and innovation, the Alliance aims to empower individuals, businesses and communities to harness the transformative power of Web3 and AI technologies.
DFINITY supporting the expansion and growth of the Web3 sector
Commenting on the progress, Dominic Williams, Founder and Director of the DFINITY Foundation, said:
Asia has emerged as a pivotal region for the Internet Computer and Web3 ecosystem. Much of the initial support and adoption of ICP and DFINITY originated in Asia, where the most talented ICP developers are located. In turn, Hong Kong has emerged as a thriving global crypto hub thanks to government initiatives embracing Web3 technology, making it the ideal location to launch the new ICP Asia Alliance.
In recent years, there has been a growing trend for Web3 and blockchain companies to relocate or expand their operations to Asia, establishing the region as a global hub for Web3 and blockchain innovation. Further development of the sector has been supported by regulatory frameworks in major financial centres such as Hong Kong and Singapore.
With a strong foundation for growth, the ICP Asia Alliance grant fund will work to harness the full potential of Asian developers building the infrastructure for the future of Web3 on the Internet Computer.
Expanding development hubs
DFINITY’s commitment to fostering growth in Asia is further cemented, with the opening of ICP.Hubs across Asia since the beginning of the year, including Hong Kong, India, Malaysia, the Philippines, South Korea, Indonesia and Singapore. ICP.Hubs thus play a vital role in building a thriving ICP community by actively promoting awareness and adoption, encompassing education, strategic partnerships and project acceleration.
ICP.Hubs will work closely with ICP Asia Alliance members to develop ICP solutions in key regions. In addition, DFINITY is forming strategic partnerships with a number of institutions and organisations across Asia, which will join the Alliance in the near future.
In light of these developments, Williams comments:
The ICP Asia Alliance aims to bring together diverse stakeholders across Asia to promote and expand the Internet Computer blockchain in the region. By facilitating collaboration between the public and private sectors, the Alliance can help harness the full potential of ICP to support innovation.
Thus, ICP Asia Alliance is committed to inclusion and support for projects, uniting community members, developers, entrepreneurs and educational institutions. This initiative plays a pivotal role in advancing the adoption of Internet Computer blockchain technology across Asia.
Strengthening its presence
This situation, together with the willingness of the FSC (Hong Kong Securities and Futures Commission), has had a significant impact on the price of the ICP token. Firstly, the FSC has started accepting applications for exchange licenses since June 1, 2023. Since then, the Web3 investment company, HashKey, has applied for their licenses and this has been reflected in the operational confidence of the exchanges.
In turn, the arrival of this Alliance and its subsidies has given good news to projects that are being developed in ICP, and to this we must add the efforts that ICP.hubs is making. For this reason, ICP has been one of the tokens that has had the best performance this week with a gain of almost 7% so far this week, being one of the winning coins in the sector.
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