The NEAR Protocol Foundation revealed in its 2022 transparency report that it committed around $33 million to three regional centers in Kenya, Ukraine, and the Balkans respectively, to help connect with people where they are.
According to the report, $100 million in total was allocated to set up regional hubs in Ukraine, Kenya, the Balkans, Vietnam, the United States, India, and South Korea.
In a statement, the NEAR Foundation said:
“As part of NEAR’s ambition to reach a billion people, the Foundation believes we need hubs around the world to connect with people where they are – with local events, in local languages, to find the best people wherever they are and forging partnerships with local organizations.”
The Foundation has chosen these locations based on a variety of factors, including Web3 adoption, number of developers, regulatory environments, and available capital.
To further grow and decentralize the NEAR ecosystem, the Foundation will implement an ecosystem-wide self-governance treasury called the NEAR Digital Collective (NDC).
In order to make the community more robust, open, and fair, the NDC aims to further decentralize the governance of the NEAR ecosystem, distribute more of the Foundation’s token holdings to the community, and shift decision-making onto the blockchain.
Sourced from BitKE