The Arbitrum Foundation has unveiled its “Road to Devcon” initiative, underscoring its commitment to the rapidly growing blockchain ecosystem in Asia.
Citing the region’s thriving developer community and increasing cryptocurrency adoption, the Foundation is gearing up for a series of events ahead of Devcon 2024 in Bangkok.
Developer Growth at the Core
The initiative will include face-to-face ArbiLink events in Vietnam and Indonesia, countries where local developer communities have seen significant growth of 31% and 34% year-on-year, according to Github data.
These events are designed to connect with developers in these burgeoning markets.
In addition, Arbitrum is launching its “Step Into Arbitrum” Learn and Earn campaign. This programme will educate participants on the Arbitrum SDK through a five-module course, followed by a bounty campaign in October, where developers will be challenged to create decentralised applications (dApps) using their newly acquired skills.
Arbitrum builds momentum in Asia
Arbitrum’s Road to Devcon follows several high-profile appearances across Asia in recent months. These included hosting the first Arbitrum Night in Tokyo, showcasing blockchain games and NFT projects, and partnering with ApeChain for a joint booth.
The Foundation also led a C-level roundtable at Korea Blockchain Week and launched its first ArbiVerse event in Singapore, featuring collaborations with major partners like Ubisoft and Azuki.
At the ArbiVerse event, Ethereum creator Vitalik Buterin appeared on a podcast with Arbitrum, where he spoke about the value of Layer 2 networks experimenting with custom features. He highlighted Arbitrum’s new Stylus platform, which offers Web2 developers a flexible environment to build Web3 applications.
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Focused on Asia’s Blockchain Growth
Asia’s rapid growth in blockchain technology has prompted the Arbitrum Foundation to increase its focus on the region.
Several factors, such as rising internet and smartphone penetration—projected to reach 90% by 2025—favourable regulatory environments, and positive economic indicators, are driving this expansion.
Countries like Singapore and Thailand are at the forefront, with clear crypto regulations and frameworks that support innovation in the sector.
Strong Macroeconomic Indicators and Crypto Adoption
The region’s macroeconomic strength is also a contributing factor. According to Euromonitor International’s Macro Model, five emerging Asian countries are expected to lead the world in GDP growth in 2024.
Additionally, Asia dominates the Henley Crypto-Adoption Index, with five of the top 10 crypto-friendly countries in 2024 hailing from the region.
In Singapore, crypto payments are becoming increasingly widespread, with merchants receiving $1 billion in cryptocurrencies during the second quarter of 2024. Arbitrum’s representatives noted that the rise in crypto transactions in a country with efficient fiat payment systems reflects the increasing ubiquity of digital assets in the region.
Arbitrum focuses on growth in Asia
Looking ahead, Arbitrum aims to empower builders, developers, and founders in Asia by providing the tools and infrastructure needed to build on the Web3 technology stack.
With its sights set on long-term growth, the Foundation is confident that Asia will play a pivotal role in Ethereum scaling efforts globally.
Miyuki
Brian
Weiliang
Alex