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Web3 Foundation Opens Applications to Expand Decentralized Futures Program

Web3 Foundation's initiative secures $45M for expanding blockchain projects, fostering a decentralized internet. Newly launched program empowers community-driven Polkadot development.

Web3 Foundation's Decentralised Futures Program Spurs Blockchain Innovation

The Web3 Foundation, the pioneering force behind the Polkadot blockchain protocol, recently unveiled plans to expand their horizon with new applications within the Decentralised Futures Program.

With an ambitious goal of raising over $45 million USD by 2024, this initiative aims to incentivize increased investment towards fostering connected blockchain systems, envisaging the forthcoming iteration of the internet. The earmarked funds are dedicated to supporting teams and individuals devoted to scaling projects within the blockchain ecosystem and delving into decentralized data models.

Fabian Gompf, the newly appointed Chief Executive of the Web3 Foundation, emphasized the pivotal role of the community in this endeavor. He highlighted the Foundation's unwavering belief in the community's strength and the program's focus on channeling substantial investments and grants to expedite the growth of decentralized technologies.

Gompf articulated the program's essence, expressing a strong commitment to empower the community in driving the next phase of Polkadot's development. He underlined the transition away from centralized stewardship of the protocol, harnessing the diverse capabilities within the community. This shift aligns with the Foundation's core vision of fostering a decentralized internet, wherein users hold control over their data, identity, and future.

The Decentralised Futures Program, as articulated by Gompf, represents a significant stride towards realizing the Foundation's fundamental vision. It symbolizes a departure from centralized control, emphasizing a community-driven approach that embodies the essence of a decentralized internet—an ecosystem where user autonomy reigns supreme.

Web3 Foundation's Decentralised Futures Program stands as a beacon, fostering a collaborative environment where innovation flourishes, and blockchain's potential is unlocked, paving the way for a future where users wield sovereignty over their digital footprint.