Dear Readers,
We are all so excited to get to know the developments in the Web 3 domain.
At this point in time amidst the countries worldwide are excelling the projects in web 3 domain, there is a serious discussions that India would be in the top in the Web 3 space.
The growth path of the Web 3 eco system is vividly seen in India.
As per the latest report of The National Association of Software and Service Companies is an Indian non-governmental trade association and advocacy group, focused mainly on the technology industry of India (NASSCOM), 11% of the global talent are based in India. And around 75000 block chain professionals are working in India.
Around 450 web 3 start ups are there in India. 4 of them are unicorn companies. 60% of the web 3 start ups have business worldwide. These companies are working in Decentralised Finance (Defi),Gaming, NFT (non-fungible token) marketplaces, metaverse and on-chain coordination mechanisms.
The widespread talent pool, growing ecosystem and adaptation to newer technologies, rapidly increasing investments are some of the important contributory factors in the development domain of Web 3.0. While most of the Web 3 workforce are from the Tier 1 cities, the Tier 2 cities are also picking up across the country.
Recently India has got the G20 Presidency Chair for 2022-2023 which would further boost up this eco system. It is also added much expectation on the Indian Finance Ministers speech that India’s plan to develop standard operating procedures (SOPs) for cryptocurrencies during its G20 presidency from Dec. 1, 2022, to Nov. 30, 2023.
It is really excited to see the happenings and developments in the Web 3 space!
