2 Good news for India; world, watch out!
This is the right time to enter Web3, with India becoming a hub.
GM frens ✨
We’re reporting back for duty! From the ever-bustling land of Web3, we have picked and created everything that matters, so this week we have:
India’s road to Web3 supremacy
India: A rich pool of Web3 developers
Web3 funding, jobs & bonus reads
Weekly Wrap: Numbers & News 🗞
Quick web3 updates curated for you:
CoinDCX launched Okto—a keyless self-custodial wallet to make DeFi apps accessible to the masses.
Samsung is planning to launch a crypto exchange in Korea in 2023!
Telegram CEO Pavel Durov proposed bringing the usernames and channel links to market as NFTs.
Binance and Mastercard launch a crypto-to-fiat payment card.
Australia unveils plans for crypto regulations unlike ‘Anywhere else in the world.’
Time to be bullish: India’s on the way to becoming the global hub for Web3
India might have been burdened by the strict crypto regulations our government levied on us, but the bull seems to find a way through it all somehow 🐂 This time, it comes from Telangana.
Key influencers in the Indian Blockchain ecosystem have launched the India Blockchain Forum, which adopts a collaborative model with governments, regulators, industry, and academia to build a robust framework for Blockchain and Web3.
What’s the plan?
IBF has created a comprehensive 10-point plan which includes:
building an India blockchain stack
accelerating the start-up ecosystem
policy advocacy
creating a talent pool for sustainably growing the blockchain ecosystem + more!
The 5 founders plus a pool of 40 influencers who have expertise in different blockchain areas will form special interest groups (SIGs) in areas such as CBDC (Central Bank Digital Currency—the digital form of a country's fiat currency), Metaverse, and policy framework.
Sandbox 101
The Telangana state government plans to release a regulatory sandbox to promote Web3 applications.
It will help startups build blockchain solutions around NFTs, tokens, and other apps.
Developers will easily establish more contact with stakeholders that would cut across policymakers and regulators.
Doesn’t this sound like a vision meant to put India on top of the Web3 hub list? Let us know what you think about IBF being launched amid the rigid crypto policies in the comments. 🗣
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India soon to be the largest Web3 developers’ pool
CoinDCX became India’s first crypto unicorn in August 2021, and now it held its three-day Web3 event Unfold 2022 in Bengaluru, with the theme “Innovation”.
Unfold 2022 hosted crypto enthusiasts, developers, and Web3 venture capitalists under one umbrella, with bounties worth over $50,000 up for grabs.
Here are some thoughts by Rohit Jain, Managing Director of CoinDCX Ventures.
India today has the second largest crypto user base in the world. With increasing regulatory certainty, India will probably have the largest pool of Web3 developers in the world in the next two years.
There are numerous Web3 projects that CoinDCX is excited about and has recently invested in. One is EPNS, a Web3 notification layer service. Another one, Liminal, is building a Web3 custody solution.
Launch a user interface service that contributes to making the use of DeFi a one-click seamless experience.
Speaking about the government’s restrictions, he said,
As long as you are helping improve a customer’s life, in the long term, web3 space in India will be fine.
Do you agree with his thought?
Comment below 👇🏼
Work in web3
Join Tegro as their Golang Developer.
Head Pillow’s design as their Lead Product Designer.
Apply and be the Senior PM at Hike.
Funding Round-up
Third web, a platform providing developer tools to build, manage, and analyze web3 apps, has raised $24 million in Series A funding for its development toolkit to make it easier to build and launch web3 products.
Polygon co-founder Sandeep Nailwal, alongside Cere co-founder Kenzi Wang, has raised $50 million from investors for his project Symbolic Capital, a venture capital fund built by and for Web3 founders.
Grab a good read and chuckle if you made it here ☕️
After $177 Billion in Investment, Why Do Metaverse Graphics Still Suck?
In defence of stablecoins
That’s a wrap for This Week in Web3, see you next week! 🚀
If you’re an early-stage web3 builder going from 0 to 1, holler at our creative-capital studio Spacekayak and let’s create something extraordinary through design! ✨