Web3 embraces decentralization and powers blockchain technology. Both are the core pillars of not just debatable, digital currency but also several projects looking to give more power to the community. Eliminating the middlemen, pretty much a synonym for a third party, is one of the objectives of web3.
Regulatory authorities and governments understand that web3 serves the community better, with identity and start-ups coming out of their shell to shine. What remains to be seen is if the sphere will ever capitalize on its own benefits to prove worthy of recognition. Among other benefits, these are the most notable ones: censorship resistance and ownership of digital assets.
Considering web3 is a new technology around the world, even a yet-to-be-launched technology in the majority of the region, a step that businesses can take to drive its adoption is to organize awareness camps, preferably calling them web3 events in a straightforward manner. Set the agenda of conducting workshops and seminars to educate businesses, students, and the general public about what web3 is and why it is important.
Algorand Foundation has kickstarted the phase in India in a partnership with T-Hub, an innovation ecosystem in India with over 600 corporate partners. The list includes big names like Microsoft and Meta.
The partnership has been established with the objectives of supporting start-ups and establishing companies that are building utility-driven solutions on-chain.
More partnerships have been announced by Algorand Foundation to further its commitment to driving web3 adoption. It has also partnered with the Indian School of Business and Jawaharlal Nehru Technological University. Under this partnership, the community will see the launch of development programs for faculties, training programs for students, and a series of master classes for companies that are looking to transition their critical business processes to web3.
Moreover, Algorand Foundation will play a role in SEWA’s $50 million Global Resilience Fund for Women, a union that represents over 2.1 million workers. The role of the Algorand Foundation will be strictly limited to being a technological partner. It will support the integration of blockchain technology through seed investments and other accelerators, backing the financial inclusion for women who belong to the low-income section.
This is in addition to CoinDCX conducting a web 3.0 event – Namaste Web3 – across the major cities of India. Namaste Web3 rather paints a more optimistic picture by showcasing its commitment to making India a $5 trillion economy in the years to come.
The basis for both – Algorand Foundation and CoinDCX – is the same, namely driving the adoption of web3. Their tracks meet at a single point, fortunately for India, which now gets to explore the opportunity of becoming a global hub for web3. Potential lies in the hands of over a billion people in India who would soon see awareness campaigns on the internet.
For good, definitely, since it falls in line with the global movement of bringing web3 to the mainstream. The NEAR Foundation has partnered with the NYU School of Professional Studies. Both partners will undertake the launch of learning aspects related to web3 for faucets, students, and industry partners. The workshop will be, needless to say, directed to the adoption of web3.
Responsibility for content and its delivery has been assured by the NEAR Foundation, which has expressed its excitement about creating a new route for members of businesses, education, and sports. The institute has said that everyone is excited to discover the depths of web3 through workshops.
Everything simply hints that Gen-Z and millennials will be better equipped to facilitate web3 in their native regions and, hopefully, across the world.