Index Africa says it is using part of the proceeds of the fees and indexing rewards earned from being a blockchain node operator on The Graph network to finance philanthropic initiatives in rural areas across the continent.
According to an announcement issued on Tuesday, Index Africa’s charity work is based on the decentralized philanthropy (DePhi) concept promoted by Silicon Kruger, a South Africa-based innovation hub that aims to foster web3 innovation in the region. Index Africa donates a percentage of its earnings from The Graph to the Good Work Foundation (GWF).
GWF, a nonprofit organization, has been advancing digital literacy and STEM (science, technology, engineering and mathematics) learning in rural Africa for over 15 years. Index Africa pans to cover the tuition fees of 350 students in these digital literacy and STEM courses.
For Index Africa and Silicon Kruger, the DePhi initiative is part of their shared efforts to accelerate foundational web3 learning in Africa via The Graph network, a blockchain indexing protocol.
Index Africa is the first African node operator on The Graph and is one of the portfolio organizations under the Silicon Kruger umbrella.