The Ethereum Foundation has announced that it has set aside $1 million for grants. The grants will help fund organizations and non-profits that educate policymakers and government departments about Ethereum and blockchain technology.
The Ethereum Foundation is a non-profit organization that supports Ethereum and blockchain technology and is separate from Ethereum’s tech development.
Details Of The Grant
The Ethereum Foundation posted a blog post, giving some details about the grant and how it would be distributed. The $1 million grant will be divided into two equal halves. The Ethereum Foundation will be assigning $500,000 to three separate organizations. These organizations are Coin Center, Electronic Frontier Foundation, and Fight for the Future.
According to the Ethereum Foundation, these three organizations have led the way in educating regulators and policymakers about blockchain technology and Ethereum. The Ethereum Foundation will also assign $500,000 to the Gitcoin matching pool. The Gitcoin community will then decide how the funds will be allocated and utilized.
Supporting The Growth Of New Industries
The Ethereum Foundation feels that the Ethereum community has an important role to play in helping regulators and governments understand the potential of transformative and disruptive technologies such as blockchain. The community can provide information and resources to regulators about the new technologies to regulators and the government, helping them understand the technology and support the growth of new industries while also providing them with the know-how to protect their constituents from fraud.
Grant To Gitcoin
Apart from the $500,000 grant to Coin Center, Electronic Frontier Foundation, and Fight for the Future, the Ethereum Foundation has also given a grant of $500,000 to Gitcoin’s matching pool, which will be utilized during the upcoming advocacy round.
Gitcoin uses quadratic funding in its crowdfunding rounds, with individual donations reflecting community sentiment. Grant owners seek funds from the community when the donation period commences, with the number of contributions and the amount donated influencing how much is allocated from the matching pool.
The Ethereum Foundation has also launched other grants during the current year. Back in May, it had launched the Ethereum Foundation Fellowship Program. The program supported Ethereum builders in emerging economies. The Ethereum Foundation also launched the Ecosystem Support Program to support developers developing tech for Ethereum financially.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.