- It was said that forty influential personalities have participated in the forum so far.
- There will be a regulatory sandbox for Web 3.0, as promised by the Telangana government.
The trading and trading of digital assets in India has been met with many regulatory hurdles. But some very important people in this sector have decided to start the India Blockchain Forum so that the country can catch up with the rest of the world.
The authorities in the state of Telangana have reportedly set up a blockchain consortium in Hyderabad with the aim of turning the country into a hub for the Web 3.0 industry. It was said that forty influential personalities have participated in the forum so far.
Mass adoption measures
It has also been said that the ultimate goal of the Blockchain Forum is to create interest groups that specialize in industries such as the Metaverse and Central Bank Digital Currency (CBDC). The secondary objective of the Blockchain Forum is to participate in the policy-making process for effective blockchain adoption.
There will soon be a regulatory sandbox for Web 3.0, as promised by the Telangana government. This opens the door for new companies to offer token services, NFTs, and other initiatives. Using Sandbox, they can communicate with relevant parties, such as policy makers and regulators.
The mission of the Indian Blockchain Forum is to organize local chapters across the country to educate people about Web 3.0. They also expressed their openness to cooperation with other academics and research organizations. The report claims that the Blockchain Forum will begin accepting stakeholder applications for membership. They will now begin their campaign to build the largest Web 3.0 community ever.
While this is happening, the Indian government and central bank have been wary about the widespread adoption of digital assets across the country. When the global crypto market collapsed because of Tera Luna crisis, the views of government authorities inflated.
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