💍 Metamask weds UPI, Enter Disney's Metaverse
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Here’s what we have for you this week👇
Weekly Web3 Updates
Metamask weds UPI
Algorand boosting Web3 adoption in India
A SURPRISE & Jobs!
Estimated Reading Time: 5:05 minutes
Weekly Weather Report 🌤
Feeling a bit chilly? Brace yourselves and keep some winter gear ready like your fren Posty!
Quick Web3 updates curated for you:
India’s First Exclusive Fashion Tour in the Metaverse with Blenders Pride Glassware Fashion.
Disney to introduce its own metaverse platform, Starverse in India.
Sportiqo, a blockchain-based fantasy cricket platform, has launched operations in India.
Cloudworx, an Indian AI startup working to bring MSMEs into metaverse secures funds on Shark Tank India
MetaMask Brings Instant Crypto Access to India!
MetaMask just announced a game-changing development for the Indian crypto community! You can now access UPI & IMPS for cheaper, faster, more efficient payments. Good news or bad news, or a blend of both? 🤔
With the integration of UPI, Indian users can now make transactions directly through their bank within the MetaMask app. No more relying on local crypto exchanges and going through P2P? 👀
Advancing the Web3 Infrastructure ⏫
MetaMask's UPI support is a huge win for web3 and could bring major advancements to the digital landscape in India!
UPI has already revolutionized small payments in India and pushed the country's digital infrastructure forward in the past five years.
MetaMask has partnered with Onramp money to bring this payments initiative to life.
Easing Access to Networks 🌐
The integration of UPI into MetaMask is aimed at making it easier for Indian users to access Ethereum, Polygon, and BNB networks. Lorenzo Santos, a MetaMask executive, says,“this is just the beginning of a new era of crypto transactions in India!”
But hold up, not everyone is happy about this! People have raised some concerns:
Loss of Anonymity: One of the key benefits of using Metamask is the ability to maintain anonymity during transactions. However, the use of UPI as a payment method may expose users, as UPI transactions are linked to users' bank accounts.
Centralization 🤝 Decentralization? Since UPI is a centralized payment system, people are calling the decision to use a decentralized wallet with UPI “stupid”.
High Gas Fees: There have also been complaints about high gas fees associated with Metamask UPI transactions. Something we can all agree, sucks!
UPI integration could revolutionize transactions and push web3 forward, but anonymity loss and centralization concerns are valid along with the pesky fees!
Hold on to your hats, folks! We've got an exciting announcement!
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Algorand Boosting Web3 Adoption in India
Algorand Foundation has set its sights on promoting the adoption of Web3 technology in India through key partnerships. It aims to collaborate with Indian businesses and organizations to spread the usage of web3 and its numerous benefits. This one definitely is good news! 😌
Potential Impact 🎯
Algorand recognizes the potential impact that decentralized technology can bring to India, including:
Enhanced transparency and security in financial dealings
Streamlined supply chain operations
Stronger protection of personal information and privacy
India— A Web3 Adoption Leader 🚀
The foundation views India as having a crucial role to play in the adoption of Web3 technology. With its expanding digital economy, India is poised to make the most of the advantages that come with decentralized technology.
Fostering the Growth of the Web3 Ecosystem 📈
Algorand's partnerships will play a key role in fostering the growth of the Web3 ecosystem in India. Here are the partnerships they have announced so far:
With Jawaharlal Nehru Technological University Hyderabad and the Indian School of Business to launch educational programs.
This includes programs for faculty development, student developer training and a master class for businesses looking to dive into the Web3 space.
With T-Hub, an innovation center based in Hyderabad to help local startups access capital from across the world and scale their projects globally.
Algorand's drive to boost the adoption of Web3 technology in India is a significant step towards a more secure and decentralized future for the country. We’re looking forward to succesfull partnerships and impatcful web3 education ✨
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That’s it for today, folks! 👋 See you next Monday!
Appreciate your Newsletter, thank you for providing it free of cost, even though people would pay for access, some just can't. You guys always awesome, Congrats on 50! Looking forward to reading more in the future
Just came across TWIW3 and I love it! I also run a web3 news substack for underrepresented creators called Facesofweb3. Would you be open to a recommendation exchange? Our subscribers need to be able to find each other!
Great job, once again!