Newly-Launched Blockchain Forum Aims to Make India Global Hub of Web 3

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The blockchain advocacy group will adopt a collaboration model and work with regulators, government, industry, and research institutes.

A group of leading Indian blockchain influencers with expertise in trading, NFT, Metaverse, cybercrime, etc., recently announced the formation of the India Blockchain Forum .

The event at Hyderabad in India’s Telangana state was attended by the state government’s principal secretary for industry, commerce, and information technology, Jayesh Ranjan, said mediaThe newly-minted Indian blockchain advocacy platform said its vision is to make India the global hub for blockchain and web 3. It will adopt a collaboration model and work with the government, regulators, industry, and research institutes to promote web 3.

IBF has adopted a 10-point agenda that includes building an India Blockchain Stack, accelerating the startup ecosystem, supporting blockchain technology companies, and creating a talent pool for sustainable growth of the Blockchain ecosystem, the coverage said. The pool of influencers with domain expertise in different blockchain areas will be used to form special interest groups such as on CBDC, Metaverse, and policy framework.The forum will soon launch a membership drive with a mission to create the world’s largest web3 community, media reports said, citing its PR from the event.Launching the Indian blockchain advocacy platform, Ranjan said the Telangana state government plans to release a regulatory sandbox to promote web 3 applications.

“This sandbox will help create a meaningful dialogue amongst all the stakeholders including regulators, startups, and policymakers to arrive at a nuanced approach in evolving an effective web 3 framework,” he said.The launch of the India-focused blockchain advocacy forum assumes significance given the growing popularity of cryptocurrencies on the one hand and the stringent approach of the regulators and the governments on the other.

 

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