Top Crypto News Today: Indian Blockchain Forum Launched! Aims to make India a Global hub for Blockchain & Web 3.0

The crypto space of India has been receiving a massive amount of admiration since the Supreme Court overturned RBI’s Banking ban of 2018. Ever since then, the crypto space has been explored, researched upon, used in various use cases and finally owned up to the potential of India as a country as to lead the space in the future. 

As a step forward to keep the surge in crypto adoption renewed with the upcoming new projects and the future of web, commonly termed as Web3, the Indian Blockchain Forum has been formed this week! This particular step is a huge stepping stone, as the official announcement of a body dedicated to this new phase of the internet caters to the overall crypto and Web3 scenario of India. 

Formally launched in Hyderabad a few days back, The India Blockchain Forum, aims to make India a global hub for Blockchain and Web 3.0, as well as build an India Blockchain Stack, among others.

What is The Indian Blockchain Forum

This newly formed forum is aiming toward a collaborative model of what blockchain has to offer with governments, regulators, industry and different academic segments to help build a robust framework for making India a global hub for Blockchain and Web 3.0.

The Indian Blockchain Forum, in a press statement, stated that in order to raise awareness about Blockchain and Web 3.0, the forum is planning to “create community chapters across the country to increase awareness and access to global best practices”. As part of opening doors to creating this chapter process, the forum will be opening membership to all stakeholders. These initiatives are enticed with a mission to create the world’s largest Web 3.0 community. 

Agenda of The Indian Blockchain Forum

The Indian Blockchain Forum is primarily focusing on the basics that is needed to create an open space for the crypto community and the different bodies involved to come to a common point. In order to do so, they will be focusing on ten of the most important agendas. They are:

The forum has been founded by five members and comprises of more than 40 key influencers. These influencers will be setting up special interest groups or SIGs in areas, such as central bank digital currency (CBDC), Metaverse, policy framework, and others for an effective process of Blockchain adoption all across the country.

According to an Outlook news report, the press release statement also mentioned, “The current members include experts in the field of policy drafting, emerging frontiers, such as non-fungible tokens (NFTs), Metaverse and CBDC, cybersecurity, as well as technology architects, global influencers, and leaders in enterprise adoption on Blockchain and Web3.0.”

The founding members of the Indian Blockchain Forum are:

• Prasanna Lohar, CEO, Block Stack
• Pankaj Diwan, founder & CEO, Idealabs FutureTech Ventures
• Col. Inderjit Singh (Retd.), chief cybersecurity officer, Vara Technologies
• Sharat Chandra, Blockchain evangelist
• Srinivas Mahankali, chief business officer, Secure Kloud Technologies.

Jayesh Ranjan, the Industries and IT Secretary, Government of Telengana, was vocal in showing his appreciation toward the collective effort of the Indian Blockchain Forum team in creating an all-inclusive platform that will help in scaling adoption of blockchain technology in India and supporting the growth of the ecosystem.

According to The Hindu, Jayesh Ranjan also said Telangana government will soon be launching a Web 3.0 regulatory sandbox that will allow startups build solutions around tokenization, NFTs and similar new frontiers. “This sandbox will help create a meaningful dialogue amongst all the stakeholders including regulators, startups and policy makers to arrive at a nuanced approach in evolving an effective Web 3.0 framework.” stated the news. 

Source: Outlook; The Hindu

Additional Read: How Web3 is Powering the Gaming Industry