Web3: Will India miss the bus to the future of the internet?

Participants in Ethereum Dubai, a developer conference. Image Credit: @ETHDubaiConfl via Facebook

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Tech giants like Facebook and Google were born in the second phase of the internet’s evolution. Late to the party, India could only become a service provider for these companies. Even in the mobile revolution, it was a laggard. With the current regulatory approach, the country is likely to lag behind as the world moves towards Web3.

Prasad (name changed) is the founder of a Web3 infrastructure startup. Most of his team members are based in Bengaluru, while Prasad spends his time between India and Dubai, an emerging Web3 hub. With the startup set to launch its product later this year, Prasad and his team are looking to raise money over the coming months. Prasad says it was a conscious decision not to register the company in India. “There is no clarity about the regulations here, and we

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