Just In: India Launches Blockchain Forum To Boost Web 3.0 Adoption

India as a nation has faced multiple regulatory challenges over the dealing and trading of digital assets. However, in order to keep up with evolving global industry, a group of key influencers launched India Blockchain Forum.

Will blockchain forum boost Web 3.0 adoption?

According to reports, Officials from the Government of Telangana launched the blockchain organization in Hyderabad with the vision to make India a global hub in the Web 3.0 sector. It mentioned that as of now around 40 key influencers have joined the forum.

It added that the Blockchain forum aims to build special interest groups in sectors like Metaverse, and Central bank digital currency (CBDC). The blockchain forum also aims to get into policy making of efficient blockchain adoption.

The Telangana Govt said that they will unveil a Web 3.0 regulatory sandbox. This will allow startups to create solutions around tokenizations, NFT and other projects. The Sandbox will allow them to build contacts among stakeholders which will include regulators and policymakers.

India Blockchain Forum aims to create community chapters across the country in order to create awareness around Web 3.0. It added that the group is willing to join hands with academia and some research institutions.

As per the report, the Blockchain Forum will open its membership for the stakeholders. This will launch their mission to create the world’s largest Web 3.0 community.

Indian Govt Supports new tech?

Meanwhile, the Indian government and Central Bank have been hesitant about the use of digital assets in the country. Govt officials’ voices gain more strength when the global crypto market collapsed due to the Terra LUNA meltdown.

Earlier, RBI Governor said that the asset class is a complete danger and we must be aware of the emerging risk in the market. He added that the involved technology holds big potential. This tech has supported the financial sector and its positives should absorb by the industry.