Bybit, one of the world’s top three crypto exchanges by volume, has forged a strategic partnership with global Web3 communities to unveil the establishment of the Blockchain for Good Alliance (BGA). This new coalition unites blockchain foundations, universities, and NGOs in a commitment to leveraging blockchain technology for social good.

Addressing a gap in the Web3 industry, the BGA will use the innovations and opportunities of blockchain and crypto ecosystems to power social advancement and tackle issues. By joining forces with the world’s most forward-thinking leaders, Bybit will drive change by using Web3 technology to open the future of finance to more people and find solutions for the world’s most pressing challenges.

The alliance will focus on offering blockchain technology training, boosting projects aligned with social betterment, managing initiatives, and providing financial backing to ensure the success of impactful projects. Bybit will spearhead discussions, promote hackathons, and offer its extensive expertise to develop technical and project management skills among partners.

Speaking at a live workshop at Blockchain Life Dubai 2024, Bybit COO Helen Liu addressed the inspiration behind the initiative. “Blockchain developers often tell me that they are lonely; that Web3 is still a niche pursuit,” Liu said. “So I wanted to find a way to help them find an audience who are new to Web3 and in this way support solutions that benefit and grow the whole ecosystem. The Blockchain for Good Alliance embodies this journey, setting a course for a more inclusive world where blockchain technology better serves humanity.” 

Bybit’s role extends beyond the creation of the alliance; it is committed to being the bridge connecting users to the potential of Web3 through simple, accessible, and innovative products. With over 1 million Web3 wallet users, partnerships with leading projects like Solana and 1inch, and a comprehensive array of educational initiatives, Bybit, a.k.a the Crypto Ark, is not just navigating the present but charting a course for a more impactful future.