• Polygon Labs and Mercy Corps have joined forces to support blockchain solutions for underserved communities.
• The two players will fund blockchain pilots, host hackathons, and conduct a blockchain bootcamp roadshow.
• They are leveraging Web3 to build resilience for low-income individuals and communities in emerging markets.
Polygon Labs & Mercy Corps Partnership
Polygon Labs has partnered up with Mercy Corps Ventures (MCV) to accelerate the use of blockchain-based solutions for low-income individuals, the underserved, and communities in the emerging market. MCV is an impact-investing arm of global development organization Mercy Corps that has supported more than 41 early-stage ventures in scaling up their services and raising more than $335 million in follow-on capital so far.
Goals of the Partnership
The main goal of this partnership is to bring practical use cases for Web3 solutions to underserved populations in emerging markets by providing them with access to resources and tools that can help them become part of the formal global economy. To achieve this goal, Polygon Labs plans to fund blockchain pilots, host hackathons, run a series of bootcamps, and spread awareness about Web3 technologies through roadshows.
Building Resilience Through Web3 Solutions
The goal is also to responsibly test out new blockchain solutions while at the same time building evidence bases that show how these technologies can make a difference in people’s lives. By utilizing Web3 technologies such as smart contracts, decentralized identity protocols, internet censorship evasion tools, crowdfunding platforms etc., they aim to build resilience for those who are underserved or lack access within their societies.
Pilot Tests & Hackathons
The two organizations plan on piloting several Web3 solutions through hackathons and other activities so as to de-risk these projects before rolling them out properly into society. They hope that by doing so they will be able to create successful business cases around these innovative technologies which can then be used by underbanked populations all over the world.
This new partnership between Polygon Labs and Mercy Corps Ventures is certainly an exciting development as it opens up many possibilities for those who are unable or lack access within their societies due to financial constraints or other reasons. By leveraging cutting edge web 3 technology such as smart contracts and decentralized identity protocols among others they hope to empower these groups with greater economic freedom and opportunity than ever before!