‘Namaste Web3’ Discusses India’s Potential in Leading Web3 Space

During the second event of Namaste Web3, an awareness program organized by the crypto investment application, CoinDCX, in collaboration with the Indian edition of Forbes magazine, Forbes India, the lawmakers and leading members from India’s ruling party discussed India’s potential to lead in the Web3 market.

Notably, on March 11, the event took place at The Imperial Hotel in New Delhi on the theme “$5 trillion Indian economy: is web3 India’s next big thing?”, mainly discussing India’s G20 presidency and the country’s potential opportunities in the Web3 sector.

Significantly, Dr. Abhishek Manu Singhvi, the Member of Rajyasabha, while commenting on India’s position in the Web3 space, stated that Web3 is “India’s greatest asset”.

Interestingly, Dr. Singhvi assured that Namaste Web3 would make the public aware of the opportunities in Web3, quoting:

Educational initiatives like Namaste Web3, which travels from city to city inviting tech enthusiasts and industry leaders to join the Web3 revolution, can be quite effective in informing the public about the potential benefits of blockchain-based finance.

The former Law Minister Ravi Shankar Prasad shared his views on Web3 pointing out that Web3 is important “with a caution”, that comes out of “the shadow of crypto”. He added that though he is a great supporter of blockchain, crypto should be decoupled from the blockchain industry as “in crypto, there are issues of financial sovereignty of India”.

In response, Dr. Singhvi asserted that Web3 would be the biggest factor helping India to accomplish its “dream of becoming a $5 trillion economy”, stating:

Negative focus on cryptocurrency, a bit obsessive in the earlier years, has affected the perception about Web3 and its usage. The blockchain narrative needs a paradigm shift from the crypto to the transformative changes that can be brought about with the application of Web3.

It is worth noticing that the event has been a rare platform where government officials and leaders have publicly opened up their thoughts on Web3.

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