One of Australia’s leading fintechs will inject $US300,000 ($478,000) into Perth’s burgeoning blockchain ecosystem to help address the tech skills shortage and fund the development of metaverse labs.
Binance Australia — which helps customers and businesses access alternative, low-cost digital assets — announced on Thursday the money would be donated to The University of Western Australia through its not-for-profit arm Binance Charity under a new partnership.
The partnership will help UWA enhance its existing blockchain courses, while allowing it to build out a full Master’s program.
A third of the funding will also be allocated towards developing metaverse labs at WA’s top-ranked university, which will be researched and designed by students.
The initiative would enable students to practically engage with blockchain technology, in order to gain the tech skills needed for high demand industries.
Binance Australia chief executive officer Leigh Travers said the business was excited to help accelerate the blockchain and crypto literacy of UWA students.
“With Web3 adoption within organisations at incredible levels, we’re encouraging university students to broaden their horizons and seek careers in emerging tech,” Mr Travers said.
UWA business school’s blockchain program representative, Dr Andrzej Gwizdalski, noted that there had been an increased demand for workers with knowledge in blockchain and crypto.
“Students completing the course will learn about the key disruptive technologies powering Web3, how to apply the innovation in business and what implication the technologies will have on work, economy and society,” he said.
Web3 represents the next generation of the internet and encompasses digital assets such as cryptocurrencies, blockchain, non-fungible tokens and the metaverse.
A recent report from Small Business Prices found Australia was a leader in the crypto space, with 236 jobs available in industries including IT, banking and financial services, computer hardware and software, accounting and finance, and consulting.