On February 23 2020, the parliament of India held a discussion on the potential future of Web3 and its effect on Indian businesses, entrepreneurs and people. Several representatives from the Indian IT and digital industry, prominent digital influencers and members of the government attended the discussion.
During the discussion, the participants discussed the future of Web3 and how it can bring about positive changes in Indian businesses, entrepreneurs and people. Representatives from Google, Microsoft and Reliance Jio gave presentations detailing the potential of Web3 and its numerous applications in India. Participants also discussed how Web3 can help in the development of smart cities, digital ID systems, decentralized systems and its potential to revolutionize the Indian digital economy.
The participants concluded that Web3 offers a great opportunity for India to improve its digital infrastructure and to drive new types of economic growth. They also highlighted the need for the government to create favourable policies and a supportive ecosystem to foster the adoption of Web3 technologies. The participants also urged the government to create awareness among people in India about the potential of Web3 technologies and the various ways they can be beneficial.