Introduction

The Ethereum ecosystem remains a global hub for innovation, collaboration, and purpose-driven technology, with Devcon, its annual conference, serving as a cornerstone event for sharing knowledge, fostering connections, and showcasing real-world blockchain applications. Held in Bangkok in November 12-15, 2024, the recently concluded Devcon provided an invaluable platform for startups supported by UNICEF’s Venture Fund, including Kotani Pay, Statwig, Rumsan and Xcapit, to share learnings and explore synergies.

Blockchain in Action: Panel Sessions

Two sessions moderated by Arun Maharajan, Blockchain Lead at UNICEF’s Ventures Team, highlighted the power of blockchain to drive global impact:

Key Takeaways

Cultivating Innovation with Purpose: Insights from the Web of Roots
At the Web of Roots event hosted by the Ethereum Foundation, Rumsan joined a deeply inspiring conversation about building a strong web of roots to transform the infinite possibilities of this technology into tangible, sustainable realities. The event delved into collaborative insights to find opportunities and ground innovation in purpose, equity, and long-term impact.

Open Source as a Pathway to Amplified Impact
DevCon also provided a space to connect with the Open Source community, which continues to be a cornerstone of blockchain innovation. Rumsan’s team hosted a discussion on growing and engaging the community. DevCon helped reaffirm Rahat’s commitment to Open Source principles. The team returned from the conference with a clearer vision of how Open Source collaboration can amplify their impact. Rumsan’s 2025 roadmap is now more aligned with this ethos, and the team is excited to contribute to the larger ecosystem while building solutions that address the needs of the most vulnerable.

In-Person Connections Still Unlock Opportunities Beyond the Digital Realm

For Xcapit, meeting other Venture Fund cohort startups and Arun, Blockchain Lead, in person facilitated alliances, collaboration plans, and streamlined future mentorship and pilot opportunities with UNICEF—connections that Xcapit recognized would have been challenging to achieve online. Rumsan, Xcapit, and Kotani Pay explored the possibility of a joint pilot for crypto-based cash transfers, each bringing unique strengths to streamline the planning, disbursement and off-ramping of digital assets in developing contexts.

Xcapit also engaged with several individuals and organizations interested in their solution, gaining valuable feedback, funding leads, and pilot opportunities:

• Ethereum Foundation: Gained insights into their fellowship program.
• Polygon Impact Plus: Received feedback on measuring impact.
• Government of City of Buenos Aires: Building upon their previous consultation with QuarkId in getting DPG Status, XCapit had advanced discussions for a pilot using their technology (esp. Around the “low tech” wallet being built to accelerate financial and digital inclusion.
• zkSync: Interested in funding replication on their blockchain, adding digital identity and testing in Argentina.
• WFP: Built trust, leading to receiving an invitation to participate in a RFI for blockchain Cash transfers a few days after the event.
• RSK (Bitcoin): Argentinian from this blockchain showed interest in a Bitcoin-compatible version of our wallet.

Kotani Pay engaged with various communities and ecosystems to not only inform the world about their product but also get more traction of their vision to connect the world of digital assets to real world financial inclusion:

• CEO, Felix Macharia, moderated a session in the Global Majority hub and discussed Open Finance alongside ETH Kuala Lumpur. The key topics were payments in Africa, stablecoin use cases, and the future of payments - including local stablecoins and commodity currencies.
• Deep engagement with Celo ecosystem (where Kotani Pay first started to offer their product) through participation in the Celo Gatherverse.. The new technical and ecosystem changes awaited in Celo will lead to new possibilities for Kotani Pay.
• Chief of People, Jonathan Morgan, represented Kotani Pay as a judge in the Venture Capital Community's startup pitch competition. Jonathan provided expert advice and insightful feedback to participants, helping shape the next wave of innovative projects. Jonathan also had the privilege of attending the Olympus Founders Brunch hosted by Chain Fusion Hub where he shared more about Kotani Pay’s mission to bridge Web3 and traditional finance.

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Funding Opportunities for Real-World Web3 Impact
During the panel session on The Triumph of Blockchain in Vaccine Distribution, David Casey, Director of Funding the Commons, highlighted key strategies for funding real-world Web3 projects, such as Statwig’s Vaccine Ledger, emphasizing the importance of practicality, inclusivity, and measurable impact. He explored public goods funding, contrasting its perception in crypto communities and the public sector, and discussed emerging mechanisms like retroactive public goods funding and quadratic funding, designed to support projects creating broad community value. Casey stressed the critical role of user adoption, noting that deploying millions of wallets on decentralized public blockchains is essential for attracting funding. He advocated for broadening blockchain’s reach beyond developers, leveraging basic devices for transaction validation, and rewarding users directly. Additionally, he underscored the need for inclusivity in the Web3 ecosystem through strategies like retroactive airdrops and funding mechanisms for Web2 developers. 

Projects addressing real-world challenges, such as vaccine supply chain management, were highlighted as particularly well-suited to attract funding and support, showcasing the growing interest in blockchain’s tangible, real-world applications.

Conclusion

Devcon 2024 was more than a conference—it was a catalyst for innovation, collaboration, and inspiration. For Rumsan and Xcapit, the event provided actionable insights, strengthened partnerships, and new opportunities to scale their solutions. Statwig's success with Vaccine Ledger, showcased during the conference, highlighted the transformative power of blockchain in critical areas such as vaccine supply chain management. Kotani Pay was able to explore synergies for crypto-based cash transfers, collaborating with other Venture Fund startups to streamline on- and off-ramp solutions in developing contexts. 

As these startups continue to push boundaries, the connections forged and ideas shared at Devcon will drive the next wave of impactful blockchain solutions, hopefully fostering equity, transparency, and resilience for communities worldwide.