PolkaPort East Debuts in Hong Kong, Facilitating the Decentralization of the Polkadot Ecosystem
Web3 Foundation has recently granted funds to PolkaPort East, with the aim of advancing decentralization and strengthening community involvement in the Polkadot (DOT) ecosystem. This grant marks the first of its kind to be awarded to an organization in Asia. PolkaPort East, an independent entity focused on investor relations and growth initiatives in Hong Kong and the Greater Bay Area, will utilize the funds to drive regional expansion.
The primary objective of this initiative is to promote the technology of Polkadot, fostering strategic investments and collaborations within the local ecosystem. Max Rebol, co-founder of PolkaPort East and CEO of Harbour Industrial Capital, a venture capital fund centered on Polkadot, emphasized the strategic significance of PolkaPort East’s launch, stating that it comes at a crucial moment for Polkadot and represents a critical step towards increasing the network’s decentralization while strengthening its strategic position in Hong Kong.
Thibault Perréard, another co-founder of PolkaPort East, added that with the support of the grant, the organization will tap into the thriving innovation hubs of Hong Kong and the Greater Bay Area. They will also engage and foster relationships with local governments, global enterprises, and capital allocators in the region.
David Hawig, Director of Ecosystem at Web3 Foundation, expressed enthusiasm for the PolkaPort East initiative, stating that it exemplifies their commitment to fostering decentralized access and innovation within the Polkadot ecosystem. He believes that PolkaPort East will play a pivotal role in enhancing connectivity and empowering the community in Hong Kong, driving forward the vision of a truly decentralized internet.
Furthermore, the initiative aims to expand Polkadot’s reach in Asia, attracting participants such as developers, venture capitalists, and Web3 investors. It will also engage with university blockchain collectives, fintech companies, and local governments that are exploring blockchain technology.
The Decentralized Futures initiative, launched by Web3 Foundation in 2023, provides support to independent teams driving Polkadot’s success. Inspired by Parity Technologies’ restructuring to focus solely on technical development, the program offers funding to both profit-driven and non-profit Polkadot-oriented organizations. With an initial allocation of $20 million and 5 million DOT tokens, the program aims to expand the Polkadot ecosystem and ensure ongoing innovation.