- The Chainlink Community Grant Program is expanding beyond smart contracts and blockchain projects focused on the Chainlink ecosystem
- Social Impact Initiatives will now be included in the Chainlink Community Grant Program
- The grants program will now fund developers and researchers building real-life solutions using smart contracts
The team at Chainlink has announced the expansion of its Community Grants Program to include social impact initiatives ‘that reduce systemic risk in developed economies and create technological leaps in developing regions’.
The Chainlink Community Grants program was initially focused on funding the various development teams and researcher building and improving the Chainlink project. With the new expansion of the Chainlink Community Grants program, funding can be utilized to accelerate real-life use cases of smart contracts as explained below.
Social impact initiatives are a key part of fulfilling [Chainlink’s] mission to create an economically fair world, where anyone with an Internet connection can better monetize their resources, rely on the contractual obligations of their counterparties, and gain transparency into the guarantees they actually have when using economic infrastructure…
The goal is to incentivize developers and researchers who want to build tangible blockchain solutions that enhance people’s ability to independently improve their well-being and social-economic status.
Key Initiatives the Chainlink Grants Program Will Now Focusing On
The team at Chainlink went on to highlight the following specific initiatives the Community Grants program will now be targeting.
- Supporting and partnering with Nonprofit Organizations and NGOs that are focused on building open-source projects that solve large-scale social and financial challenges using blockchains, smart contracts and oracles
- Funding blockchain startup programs and projects that are making real progress with increasing social impact
- Encouraging the development of smart contract use cases that open new frontiers for existing services by expanding their reach globally. For example, insurance solutions in Africa or incentivizing regeneration of land in arid areas
- Building new data infrastructure to verify the occurrence of events globally. Examples of new infrastructure include open-source satellite data, drones, IoT devices that capture real-life data such as weather, carbon levels, etc
- Partnering with Web3 organizations to fund social impact initiatives such as hackathons, accelerators and innovation challenges