Singapore-based crypto derivatives platform Phemex has once again shown its sheer commitment towards its users, this time by offering scholarships to students in the evolving field of cryptocurrencies, blockchain, and Web3. This year, Phemex is introducing the Phemex Student Foundation, a student-oriented program that awards students with research grants.
In a nutshell, it’s a fellowship for world-class students to perform research on emerging crypto technologies. Web3 is creating a path for a future where diverse individuals and computers can exchange data, value, and digital assets without relying on any third party.
Web3 is proving to be a game-changer for almost every industry, offering ways to securely digitize and automate existing systems, reducing effort while saving both time and money. These applications process significant amounts of data, converting them into facts and meaningful decisions.
There’s still much room for improvement, and most Web3 applications are many years away from mainstream adoption. However, some of the world’s largest companies are building within this new ecosystem, including Amazon, Apple, and even Google.
Phemex was formed by ex-Morgan Stanley employees who wanted to develop a trustworthy, fair platform for consumers to invest in digital assets. They are devoted to developing the Web3 sector and hope to aid the world’s most talented minds in putting their skills to use in improving decentralized ledger technology.
As a whole, the cryptocurrency space has seen tremendous growth over the last two years, and Phemex is no exception. However, there is still a lingering unwillingness to adopt blockchain technology in the broader fintech ecosystem. The total digital asset market cap is worth more than $2 trillion, and while this represents a considerable step up from a decade ago, the world will require more of a giant leap to fast-track adoption.
Giving researchers and developers the freedom to explore the technology is crucial to producing breakthroughs. With this mission in mind, the Phemex’s Student Foundation project aims to encourage crypto education and Web3 development by funding research on blockchain technology.
For this project, Phemex has collaborated with world-class universities and brilliant young students. The exchange believes that funding new research can increase the attractiveness and utility of digital assets while also cultivating the future generation of crypto students.
According to Phemex, Web3 is still in its early phases, making this a huge opportunity for students and researchers to bring their ideas into the spotlight and positively impact the world of decentralized networks.
The first cohort started on March 1st, and students have been selected from the best universities across the United States. These include Northeastern University, the University of Michigan, Vanderbilt University, and the University of Denver.
The student fellows will participate in Phemex-guided research modules over 8-12 weeks. The goal will be to create a thesis-style final paper that will be published on the company’s website. There are also two additional components: a career path panel featuring Phemex’s CEO Jack Tao, and a series of webinars involving various experts in the field to discuss the industry and its future.
Students who participate in the Phemex Student Foundation program will have an immediate leg up in the industry, giving them a solid basis to improve their future studies and bag the most sought out jobs in the cryptocurrency space. Scholarships aren’t awarded to the faint of heart, and Phemex hopes that this program will motivate students from across the globe to enter the sector and learn more about the future of money.